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Japan’s exports increased for the 14th consecutive month in April, driven by robust overseas demand for steel and mineral fuels, Ministry of Finance data showed Thursday.
Exports rose 12.5% from a year earlier in April. That compared with March’s 14.7% increase and was weaker than the 13.9% increase expected by economists surveyed by data provider FactSet.
Exports to Europe and the U.S. led the growth, increasing by 19.1% and 17.6% respectively, mainly due to the strong demand for steel, auto and semiconductor manufacturing equipment.
Japan posted a 5.9% drop in exports to China.
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