Japan posts upbeat exports on accelerated trade recovery

Japan’s exports reached historic highs in April, while capital spending expanded as global demand for cars and electronics advanced. The positive readings brought in optimism that trade’s recovery could fuel the world’s third-largest economy back to growth.

The country’s exports recorded a 38.0% year-on-year increase in April, official data showed on Thursday. The figure, which came as the fastest gain since April 2010, stood larger than the 30.9% jump predicted by analysts.

Another factor that contributed to the bright outlook was the country’s upbeat manufacturing confidence. Strong demand for cars and electronics was mainly from a recovery in the U.S. and Chinese economies. However, insufficiency in global chip supply restricted overseas shipments in recent months.