Japan's trade surplus in May rose 35.5% from a year earlier for the 11th straight monthly gain on the back of continued strong exports to Asia, the latest official data shows.
The May surplus hit 934.22 billion yen ($8.6 billion) as exports rose 9.8% to 4.72 trillion yen. Exports were boosted by robust shipments of cars and optical equipment such as digital cameras, the finance ministry said. Exports of ships jumped 94% due to deliveries of luxury cruise liners.
Imports rose 4.9% to 3.79 trillion yen on higher purchases of microchips and other electronics devices, coal and non-ferrous metals, the ministry said.
The trade surplus with Asia alone jumped 53.7% to 594 billion yen for the 11th consecutive monthly increase as exports to the region rose 17.5% to 2.31 trillion yen, with imports up 8.6% to 1.72 trillion yen.
The surplus with the US fell 4.9% to 486.3 billion yen as exports dropped 7% to 1.04 trillion yen and imports were down 8.7% to 551 billion yen. The US figures reflect how Japan's trade across the Pacific increasingly goes through other countries, especially China, first.
The surplus with the European Union was up 7.4% to 239.1 billion yen as exports grew 5.6% to 728.8 billion yen and imports rose 4.8% to 489.7 billion yen.
Economists said Japanese exports would begin to slow later this year as China's credit tightening measures begin to tame its red-hot economy and US consumer demand likely slackens as the effect of tax cuts fade.
