Fresh industry figures coming from Japan have given further proof of the country’s continuing economic recovery.
Exports in April jumped 40.4% from a year earlier to 5.9 trillion yen ($65bn; $45bn), marking the fifth straight monthly year-on-year rise. and were enhanced by international demand for Japanese cars.
Exports for some other areas of Asia, which account for greater than 50% of Japan’s overall exports, rose 45.3% from 2009.
“Exports remain very firm even after very strong growth in January to March,” said Azusa Kato, an economist at BNP Paribas in Tokyo.
Exports to the European Union were up by 19.8% from 2009, slowing from a 26.7% gain in March but again marking a fifth straight month of year-on-year increases while shipments to the US were up 34.5%, aided by robust demand for Japanese vehicles.
Overall, car exports more than doubled from last year to 775.2bn yen.
“The figures underlined a steady recovery in the global economy,” said Hiroshi Watanabe, economist at Daiwa Institute of Research.
Last week, figures confirmed that Japan’s economy had increased by 1.2% between January and March from the previous 1 / 4, the Cabinet Office stated.
Emerging Asian markets including China are now driving Japan’s overall economy and providing what the IMF has refered to as a “tentative” recovery from recession.