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.