Japan exports see 'modest recovery'

Japan's economic slump appears to be easing slightly, with exports registering a smaller decline in April than in March.

Government data released on Wednesday showed that exports in April fell 39.1 per cent year-on-year, less than the 45.6 per cent decline posted in March.

That resulted in a trade surplus of about $725m for April, down 85 per cent year-on-year, but the third straight month of surplus following a record deficit in January amid a collapse in worldwide demand for big ticket items such as cars and electronics.

The improved result from March reinforced market views that the worst of the global slump in trade may be over.

Naoki Murakami, chief economist at Monex Securities, told the AFP news agency that the finance ministry data on Wednesday "confirmed exports were recovering" after volumes increased for two consecutive months.

Japan's factory production rose for the first time in six months in March and data due out on Friday is expected to show the first back-to-back increases in output in more than a year in April.

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