Japan’s exports surge 13.5% in May, helped by cheap yen and strong demand in US, Asian markets

By YURI KAGEYAMA
AP Business Writer

TOKYO (AP) — Japan has reported its exports surged 13.5% in May, helped by a weak yen and strong demand in the U.S. and Asia. Finance Ministry data reported Wednesday showed that the trade deficit totaled about $7.7 billion, down nearly 12% from a year earlier. Imports jumped 9.5% year-on-year, while exports grew at the fastest pace in over a year. Exports to the United States jumped nearly 24% and those to the rest of Asia were up more than 13%, led by growth in shipments of vehicles, electronics and machinery. The value of Japan’s imports tends to grow when the Japanese yen loses value against the U.S. dollar and other major currencies.