(Bloomberg) -- Japanese exports picked up in April after lackluster data the previous month, despite friction with the U.S. and between the U.S. and China, Japan’s two biggest trading partners.
Key Takeaways
The data cover the first full month after the implementation of U.S. tariffs on steel and aluminum imports in March. Trade remains vital for Japan’s economic growth and recovery, making the Trump administration’s protectionist shift problematic.
Economist Takeaways
- Exports should continue to increase in the second quarter, reflecting growth in the global economy, Koya Miyamae, Rina Adachi and Yoshimasa Maruyama of SMBC Nikko Securities, wrote in note before the data release.
- Imports should also increase in the quarter ending in June, they wrote, reflecting a rebound in consumption in Japan.
Other Details
- Japan’s adjusted trade balance showed a surplus of 550 billion yen (forecast +114.9 billion yen).
- Exports to China, Japan’s largest trading partner, rose 10.9 percent in April from a year earlier.
- Those to the U.S. grew 4.3 percent.
- Shipments to the EU increased 14.1 percent.