Japan exports jump 14.8% in April, beating expectations as semiconductor shipments soar
Japan's exports surged by 14.8% in April, exceeding expectations and marking the fastest growth since January. Imports also rose by 9.7% year-on-year, contributing to ongoing economic dynamics. The yen has strengthened slightly against the dollar, but concerns about inflation and purchasing power remain.
- ▪Japan's exports increased by 14.8% in April, surpassing the expected 9.3% growth.
- ▪Imports rose by 9.7% year-on-year, compared to an anticipated 8.3% increase.
- ▪The yen traded at 158.88 against the dollar, showing a slight strengthening.
- ▪Japan's economy expanded by 0.5% quarter on quarter and 2.1% on an annualized basis.
- ▪Core inflation data for April is expected to be released soon, following a rise to 1.8% in March.
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Japan's exports climbed 14.8% in April, the fastest pace since January and solidly beating expectations.The figure was sharply higher than the 9.3% expected from Reuters, and up from an 11.5% rise in March. Imports to Japan increased 9.7% year-on-year, versus an expected 8.3% rise. This, however, softened from the 10.9% rise in the previous month.The yen strengthened marginally 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 expanding 0.5% quarter on quarter and 2.1% on an annualized basis.Japan is currently struggling with a weak yen, having spent a reported 10 trillion yen on intervening in the yen at end of April and the start of May.
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