Mumbai, May 21 -- Japan's exports grew at a slower pace in April largely due to the higher tariffs imposed by the US administration, official data revealed Wednesday.
Exports climbed 2.0 percent on a yearly basis in April, slower than the 4.0 percent increase in March, the Ministry of Finance reported.
Meanwhile, imports declined 2.2 percent, in contrast to the 1.8 percent increase in the previous month. Imports were expected to fall 4.5 percent.
As a result, the trade balance showed a deficit of JPY 115.85 billion compared to a surplus of JPY 559.43 billion in March. In the same period last year, the deficit totaled JPY 504.69 billion.
Data showed that exports to the US declined 1.8 percent in April, which was the first annual fall in ...