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Japanese exports shrank for the fifth month in a row under pressure from the drop in chip shipments
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Japanese exports shrank for the fifth month in a row, mainly due to a drop in shipments of equipment related to the chip industry to China. Japan's exports fell 2.4% in April against expectations of a 1.8% decline.
While the March reading recorded a 2.4% decline. Data released by the Ministry of Finance showed that the trade balance surplus with the United States rose for the second month in a row, recording 723 billion yen or 6.5 billion dollars, supported by the accelerated pace of exports of the Japanese auto sector.
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