Japan maintains a trade surplus as energy imports plunged in April, according to the Finance Ministry's Thursday provisional report.
The nation posted an unadjusted trade surplus of 301.91 billion yen for April as the value of exports climbed 14.8% year-on-year, while the import value increased by 9.7%.
Imports of petroleum declined nearly 50% in April, contributing to a 19.3% decline in overall mineral fuel imports, as Japan, heavily reliant on Middle Eastern oil, reduced its energy purchases following the effective shutdown of the Strait of Hormuz.
Meanwhile, exports to Japan's two largest trading partners, China and the U.S., grew 15.5% and 9.5%, respectively. Imports from the two countries also posted double-digit growth.