Japan - Trade Balance (April): ¥ 481.7bn (vs. expected ¥ 520.7B)

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%

More:

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.