Japan May exports rise at a fastest rate in 4 months

Japanese export growth picked up the pace in May, hitting a four-month high, the official data released on Monday showed. 

Exports rose 8.1 percent year-on-year, beating the forecast of 7.5 percent growth. Meanwhile, imports 14 percent year-on-year, bettering the estimate of 8.2 percent rise by a big margin. 

Consequently, the trade balance slipped into a deficit of JPY 578.3 billion in May vs expected deficit of JPY 235 billion.