Japan's exports pick up on weak yen but business mood stalls

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Japan's exports pick up on weak yen but business mood stalls

TOKYO - Japan's exports rose for a fifth straight month in April, helped by a boost in value from the weak yen, government data showed on Wednesday, but shipment volumes struggled as soft external demand weighed on growth.

The trade data comes as Japan seeks to drive sustainable growth underpinned by higher wages and durable inflation, seen as prerequisites for the central bank to shift away from near-zero interest rates. Imports also rose 8.3% in the year to April, roughly matching economists' estimate and swinging from a 5.1% decrease in March.

The trade statistics come a week after data showed Japan's economy contracted 2% in the first quarter, with exports of goods and services tanking 5%, leaving the economy without a growth engine.

 

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