Japanese exports surged to end first quarter on strong note

Higher trend: The chemical tanker Torm Cecilie sails past a port in Yokohama, Japan, on Tuesday. Japan’s exports rose the most in two years in March. – Bloomberg

TOKYO: Japanese exports grew at the fastest rate in more than two years in March, supporting a moderate economic recovery in the face of weak domestic demand.

Exports rose 12% from a year earlier (median estimate +6.2%), according to data released by the Ministry of Finance. Imports jumped 15.8% (median estimate 10%), the biggest gain in more than three years. The trade surplus for March was 614.7 billion yen (US$5.64bil), compared with an estimate of 608 billion yen.