Japanese exports rose more than 10% for the third consecutive month in April, boosted by US demand, but rising global commodity costs led to The country’s import bill has ballooned to a record level, raising concerns about the rising cost of living.
And the Finance Ministry data showed, today, Thursday, that Japan’s exports rose by 12.5% in April, compared to a year ago, led by car shipments to the United States, and compared to the expectations of economists in a Archyde.com poll for an increase of 13.8%.
This came after a 14.7% increase in March.
Imports rose 28.2% in the year to April, versus average estimates of a 35% increase, as a weaker yen helped boost already high global commodity prices.
This resulted in a trade deficit of 839.2 billion yen ($6.54 billion), which is lower than the average estimate of a deficit of 1.150 trillion yen.
Analysts have warned of the risks of inflation resulting from rising costs to the fragile economy, with the import bill rising due to external factors, rather than domestic demand.