Japan exports gain in April, rising oil prices pinch surplus

AP News
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Posted: May 21, 2017 10:34 PM

TOKYO (AP) — Japan reports its exports rose a solid 7.5 percent in April from a year earlier though the trade surplus dropped as higher oil prices pushed the value of imports higher.

The figures released Monday were in line with estimates, given a rebound in demand in recent months.

Exports to China jumped 15 percent while shipments to the U.S. climbed 2.6 percent.

Machinery exports saw strong growth while vehicle exports were nearly flat. Exports of machinery to the U.S. rose 6.8 percent.

Oil and gas imports surged nearly 60 percent from a year earlier.

Japan's trade surplus with the U.S., a focus of attention for the administration of President Donald Trump, fell 4.2 percent from the year before to 586.7 billion yen ($5.3 billion), as imports rose nearly 10 percent.