Japan Exports Rise 5.1% YoY

Japan’s exports rose 5.1 percent in April from a year earlier, above analyst forecasts in a Reuters poll for a 4.8 percent rise, data on Wednesday showed.

Imports rose an annual 3.4 percent versus forecasts for a 0.8 percent rise, while the trade balance stood at a deficit of 808.9 billion yen ($7.98 billion), much larger than expectations for a 646 billion yen deficit.  Japan’s trade balance has been in a deficit for 22 months in a row now.

“The data was not really a surprise at all. They [Japan’s policy makers] were hoping for a lower yen to stimulate exports and a lower yen just isn’t coming,” said Boris Schlossberg, managing director at BK Asset Management.

CNBC

Content is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Business Information & Services, Inc. or any of its affiliates, subsidiaries, officers or directors. If you would like to reproduce or redistribute any of the content found on MarketPulse, an award winning forex, commodities and global indices analysis and news site service produced by OANDA Business Information & Services, Inc., please access the RSS feed or contact us at info@marketpulse.com. Visit https://www.marketpulse.com/ to find out more about the beat of the global markets. © 2023 OANDA Business Information & Services Inc.