RPT-Japan April exports rise 3.8 pct year/year - MOF
TOKYO May 22 (Reuters) - Japanese exports rose 3.8 percent in April from a year earlier, marking a second straight month of gains, Ministry of Finance data showed on Wednesday, in a sign that a weaker yen and a pickup in global demand are helping the export-reliant economy.
The MOF data also showed that Japan logged a trade deficit in April for a 10th straight month, with higher import costs offsetting export gains due to the weak yen.
The rise in exports compared with a median forecast for a 5.9 percent rise in a Reuters poll of economists, and followed a 1.1 percent rise in March.
Imports rose 9.4 percent in the year to April, up for a sixth straight month, and compared with 6.7 percent gain expected by economists.
That brought the trade balance into a deficit of 879.9 billion yen ($8.6 billion), compared with economists' forecast for a 621.1 billion yen deficit.
Exports to the United States and China, the two biggest markets for Japanese shipments, rose 14.8 percent and 0.3 percent, respectively, in the year to April.
For more background on this data, please view this PREVIEW story:
- Housing, jobs data weaken, but overall economic picture still upbeat
- Last-minute Obamacare exemption for those with canceled plans
- UPDATE 6-Target cyber breach hits 40 mln payment cards at holiday peak
- Target cyber breach hits 40 million payment cards at holiday peak |
- New York Mayor-elect's reputation for lateness parodied on Twitter