JAPAN REGISTERS BIGGEST JUMP IN EXPORTS IN 41 YEARS

Japan's exports in May jumped 49.6 percent from a year ago to post the sharpest rise in over four decades, with their rebound from a coronavirus pandemic-induced downturn driven by solid demand for cars and auto parts, government data showed, Keita Nakamura reported for Kyodo News.

Exports of goods surged to 6.26 trillion yen ($57 billion) in the reporting month, increasing at the fastest pace since a record 51.4 percent leap was logged in April 1980, according to the preliminary data released by the Finance Ministry, which began compiling the statistics in January 1979.

After expanding 16.1 percent in March and 38.0 percent in April, exports grew for the third consecutive month, partly in reaction to a 28.3 percent year-on-year fall seen in May last year due to the initial shock of the pandemic that pushed down global demand and disrupted supply chains.

Exports of both cars and auto parts more than doubled, up 135.5 percent and 139.1 percent from a year earlier, respectively.

Demand for auto-related Japanese products was strong especially from the United States, a ministry official told reporters.

Imports also saw a remarkable rise of 27.9 percent to 6.45 trillion yen, up for the fourth straight month following a 12.8 percent boost in April, due to a recovery of domestic consumption and rebound in crude oil prices.

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