Japan posted a trade surplus of JPY 60 billion in April 2019 compared with a JPY 621 billion surplus in the same month a year earlier and market expectations of a JPY 203 billion surplus. Exports declined for a fifth straight month while imports gained steam.

Imports to Japan rose 6.4% year-on-year to JPY 6.60 trillion in April 2019, above market expectations of a 4.8% increase and following a 1.2% rise in the previous month. Exports from Japan fell 2.4% from a year earlier to JPY 6.66 trillion in April 2019, compared to market consensus of a 1.8% drop and after a similar 2.4% fall in March.