— Japan Posts Trade Surplus For 13 Months In Row
— Japan Apr Exports +40.4% Y/Y, Up 5 Months In Row
— Japan Apr Imports +24.2% Y/Y, Up 4 Months In Row
— Japan Apr Exports To US +34.5% Y/Y, Up 4 Months In Row
— Japan Apr Exports To EU +19.8% Y/Y, Up 5 Months In Row
— Japan Apr Exports To Asia +45.3% Y/Y, Up 6 Months In Row
–Japan Apr Exports To China +41.4% Y/Y, Up 6 Months In Row

TOKYO (MNI) – Japan’s trade surplus stood at Y742.3 billion in
April as exports posted the fifth straight year-on-year rise on
recovering global demand for Japanese cars and semiconductors, Ministry
of Finance data released on Thursday showed.

Japan posted the 13th consecutive month of a trade surplus
following an upwardly revised surplus of Y952.0 billion in March
(preliminary +Y948.9 billion). In April 2009, Japan posted a trade
surplus of only Y48.99 billion.

The April 2010 figure came in slightly above the consensus call of
a surplus of Y724.1 billion.

The latest data showed that Japanese exports soared 40.4% in April
from a year earlier to Y5.89 trillion, the fifth straight year-on-year
gain.

The April gain followed +43.5% in March, +45.3% in February, +40.9%
in January and +12.0% in December, improving sharply from the record
49.4% slump marked in February 2009.

In April, shipments of automobiles, auto parts and semiconductors
surged from a year earlier, when demand for Japanese cars and
electronics was still depressed amid the global financial crisis and
recession.

Imports rose 24.2% on the year to Y5.15 trillion in April, posting
the fourth consecutive y/y rise after +20.6% in March, +29.5% in
February, +8.9% in January and -5.5% in December, and recovering from
the record 42.7% drop in February 2009.

The value of imports of petroleum, non-ferrous metals and liquefied
natural gas rose sharply.

Exports to the United States rose 34.5% from a year earlier to
Y878.4 billion, up for the fourth consecutive month, following +29.5% in
March, +50.5% in February and +24.2% in January and recovering from the
record 58.4% drop in February 2009.

Automobiles, auto parts and semiconductors led the gain in U.S.
exports.

Shipments to the European Union rose 19.8% to Y665.8 billion,
posting the fifth straight year-on-year gain. The pace of growth slowed
from +26.7% in March but was still higher than +19.7% in February,
+11.2% in January and +1.4% in December. EU exports have recovered from
the record 56.1% drop marked in March 2009.

Automobiles, auto parts and semiconductors led the recovery in
exports to Europe.

Meanwhile, Japan’s exports to Asia soared 45.3% to Y3.32 trillion
in April, marking the sixth consecutive month of y/y gains.

But the pace of growth slowed from +52.8% in March, +55.7% in
February and +68.3% in January, although it was faster than +31.1% in
December. Asian exports have recovered from the record 46.7% decline
marked in January 2009.

Higher shipments of semiconductors, iron and steel products as well
as automobiles led Japanese exports to Asia.

Exports to China, the largest market for Japanese goods, expanded
41.4% to Y1.15 trillion in April, showing the sixth consecutive y/y rise
after +47.5% in March, +47.6% in February, +80.0% in January and +42.7%
in December.

Shipments of automobiles, scientific optical instrument and car
parts led the gain.

On a seasonally adjusted basis, Japan’s trade surplus posted a
surplus of Y729.14 billion in April, down 5.0% from the previous month.
Seasonally adjusted exports were up 2.3% from the previous month while
imports rose 3.4%.

Japan’s trade balance returned to a surplus of Y90.97 billion
(still -94.3% y/y) in September 2008, but in the wake of the collapse of
U.S. investment bank Lehman Brothers it plunged into negative territory
again, posting deficits of Y75.21 billion in October, Y227.51 billion in
November and Y322.23 billion in December 2008 and Y967.94 billion in
January 2009.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4833 **

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