Japan's exports surge 13.5% in May, helped by cheap yen and strong demand in US, Asian markets
Japan has reported its exports surged 13.5% in May, helped by a weak yen and strong demand in the U.S. and Asia
By Yuri Kageyama
Published - Jun 19, 2024, 12:09 AM ET
Last Updated - Jun 19, 2024, 12:09 AM EDT
TOKYO (AP) — Japan's exports surged 13.5% in May, faster than expected growth helped by a weak yen and strong demand in the U.S. and Asia.
Finance Ministry data reported Wednesday showed that the trade deficit totaled 1.22 trillion yen ($7.7 billion), down nearly 12% from 1.38 trillion yen a year earlier. Imports grew 9.5%, year-on-year, to nearly 9.5 trillion yen ($60 billion).
Exports totaled 8.3 trillion yen ($53 billion) and grew at the fastest since November 2022. Shipments to the United States were up nearly 24% and those to the rest of Asia rose more than 13%, led by double-digit growth in shipments of vehicles, electronics and machinery.
Trade with Europe mostly fell.
