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Japan's Exports Surge, Despite Global Supply Worries
Description
Japans exports surged by 14.8% in April, driven by a 41.8% increase in semiconductor shipments, indicating strong demand for AI tech. Despite global supply concerns, particularly around oil and gas due to Irans situation, Japans exports have grown for eight consecutive months. The trade balance shifted to a surplus of ¥301.9 billion, a stark contrast to last years deficit. Interestingly, oil and liquefied natural gas imports decreased, likely due to disruptions in the Strait of Hormuz. To address lower oil supply, the Prime Minister authorized the release of national oil reserves, but rising prices and a weakening yen have made dollar-priced oil more expensive for Japan.
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