Japan's January exports increased faster than forecast

       Worldwide, exports rose an unadjusted 40.9% by value from the previous January to total 4.90 trillion yen ($54.3 billion), the Ministry of Finance said Wednesday. The result beat a consensus forecast for a 36.4% rise, according to Dow Jones Newswires.

Imports for January were 8.6% higher than the year-earlier month, reportedly the first such increase in 15 months.

This resulted in a trade surplus of 85.2 billion yen. Dow Jones Newswires reported expectations for a deficit of 144.9 billion yen.

The exports result was helped by an 80% climb in China-bound shipments, with exports to Hong Kong up 85.5% and those to Taiwan 100% higher.

Overall, Japanese exports to Asia were 68% higher than a year earlier, outpacing a 24.2% gain in exports to the U.S. and an 11.1% rise in shipments to the European Union.

China was once again the top market for Japanese goods, with shipments for the month totaling 920 billion yen.