Japan's trade surplus falls 10.4%

Japan’s trade surplus falls 10.4%

Japan's Finance Ministry disclosed that the country's trade surplus fell 10.4% year on year to Yen 962.8 billion (around $8.96 billion) in April. A 7.8% year-on-year rise in April exports to Yen 5.51 trillion was not enough to offset imports, which surged 12.7% year on year to Yen 4.54 trillion. Brisk US demand for Japanese automobiles and strong demand for steel from Asia bolstered April's export numbers. In particular, the Finance Ministry indicates that Japan's trade surplus with the US jumped 14.9% in April. Going the other direction, a 28% rise in crude oil imports accounted for much of April's sharp import growth. Even though Japan's trade with Asia declined 4.9% last month, trade with China showed good performances in both exports and imports. Exports to China rose 4.2% on the back of strong demand for steel products, while imports increased 17.7% on growth of computers and textile goods.