In April 2017, Japan’s exports rose for the fifth consecutive month with shipments to China increasing significantly as global demand contributed to the recovery of Japan’s economic growth.
According to the Ministry of Finance, Japan’s exports grew by 7.5% on a yearly basis. Analysts had expected an 8% increase.
Meanwhile, the country’s imports soared by 15.1%, while economists had predicted a 14.8% rise.
The country posted trade surplus of 481.7 billion yen last month. That was shy of expectations for surplus of 520.7 billion yen.
Exports to China, Japan’s major trade partner, grew by 14.8% to record 1.19 trillion yen in April.
In the meantime, shipments to the United States rose by 2.6% from the same period a year ago. Exports to the EU advanced by 2.2%.
At the same time, economists say any reduction in exports would jeopardize the sustainable recovery of the Japanese economy.
In the first quarter of this year, Japan's economy expanded by five consecutive quarters. This is the longest period of continuous growth over the past 11 years.
From January to March, the country’s GDP grew by 2.2% annually, at the fastest pace so far this year.
