Japan Exports Rise for 8th Straight Month in April, Trade Surplus Tops 301.9 Billion Yen

Japan's exports surged in April, rising for an eighth consecutive month and outperforming market expectations despite ongoing global supply disruptions. Government data released Thursday showed exports by value increased 14.8% from a year earlier, significantly exceeding forecasts. The strong performance contributed to a trade surplus of 301.9 billion yen ($1.9 billion) for the month.

The growth was driven by robust shipments of automobiles, semiconductor manufacturing equipment, medical products, and electrical machinery. Exports to China rose 15.5%, while those to the United States increased 9.5%. A key factor was a surge in semiconductor shipments, which jumped nearly 42% by value from the previous year, reflecting booming global demand for computer chips and artificial intelligence infrastructure.

Imports also grew, rising 9.7% year-on-year, though the figures revealed significant shifts in energy procurement. The value of Japan's crude oil imports fell nearly 50% from a year earlier, marking the steepest drop in decades by volume. Imports of liquefied natural gas dropped 20%. Officials attributed the declines to major supply disruptions caused by the effective closure of...