Japan exports jump 14.8% in April as semiconductor shipments soar
Containers at a shipping terminal in Yokohama, Japan, on October 18, 2021. Japan’s trade deficit widened in September as imports exceeded export growth.
Kiyoshi Ota | Bloomberg | Getty Images
Japan’s exports increased by 14.8% in April, the fastest increase since January, and far exceeded expectations regarding the increase in semiconductor shipments.
This figure was well above the 9.3% expected by Reuters.
Imports increased by 9.7 percent% That’s against an expected 8.3% increase year-on-year, according to government data. of the country The trade balance narrowed from 643 billion yen in March to 301.9 billion yen in April.
This increase was driven by an increase in semiconductor shipments, which increased by 41.6% annually.
Total exports to China, Japan’s largest trading partner, increased by 15.5%, while exports to the USA increased by 9.5%.
The yen strengthened slightly against the dollar, trading at 158.88.
GDP data on Tuesday had shown that net exports were still one of Japan’s main economic drivers, with the economy growing 0.5% on a quarterly basis and 2.1% on an annual basis.
Japan is currently struggling with a weak yen and has spent a year. reported 10 trillion yen About intervening in the yen in late April and early May. While the weak yen is likely to boost exports, it also raises domestic concerns by increasing imported inflation and weakening purchasing power.
Japan’s April core inflation data will be released on Friday. The measure accelerated to 1.8 percent in March for the first time in five months as the Iran war fueled concerns about energy prices.
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