Japanese exports rise for 5th straight month, surplus with US drops 4.2%

The data released by the Japanese Ministry of Finance (MoF) today showed the exports rose for the fifth straight month in April and the trade surplus with the US dropped 4.2% year-on-year. 

Exports rose 7.5% y/y in April from a year ago, below the estimate of 7.8% growth. Imports jumped 15.1%, beating the consensus estimate of 14.8% increase. 

Japan's trade surplus with the United States fell 4.2% in April from a year ago to JPY 586.7 billion. A Bloomberg report says Exports to China, Japan’s largest trading partner, climbed 14.8%, while the shipments to the EU increased 2.2%. 

A drop in the surplus with the US means Trump will have a hard time justifying his criticism of Japan’s trade practises. Earlier this month, US Commerce Secretary Wilbur Ross had said that Washington could no longer sustain inflated trade deficits with its trading partners.