Japan - Trade Balance for April, a 481.7bn yen surplus
- expected ¥ 520.7B, prior ¥ 614.0B
Trade balance adjusted ¥ 97.6B
- expected ¥ 259.6B, prior ¥ 172.2B
Exports have been a positive for the Japanese economy, for April +7.5%, a miss
- expected at +8% y/y prior +12%
Imports +15.1%, a beat
- expected +14.8%, prior +15.8%
Exports to US +2.6% y/y
- to China +14.8% y/y
- to Asia +12.2% y/y
- to the EU +2.6% y/y
Japan's MoF reporting the April trade surplus with the US is -4.2% y/y.
A miss on the expected size of the surplus, imports up and exports down. Nevertheless a fifth consecutive month of gains in exports and a positive area for Japan's economy.