Japan's exports in July rose 23.5 percent from a year earlier but the pace of expansion slowed down for the fifth straight month, government data showed Wednesday.
Exports totaled 5,982.80 billion yen (71.22 billion U.S. dollars) in July, increasing for the eighth straight month due to strong demand for Japanese automobiles, while imports was up 15.7 percent, the seventh consecutive month of growth, to 5,178.60 billion yen, according to the Finance Ministry's preliminary data.
However, the pace of recovery looks likely to further slow down as the yen continues to rise against other currencies, hurting exporters across all industries.
The trade balance in July came to a surplus of 804.20 billion yen, up around 2.2-fold from the same period last year, logging a surplus for the 16th consecutive month.
Exports to the United States were up 25.9 percent to 972.23 billion yen for the seventh straight monthly rise, and Japan's trade balance with the country came to a surplus of 472.30 billion yen, up 42.5 percent
Exports to Europe grew 13.3 percent to 632.59 billion yen, bringing Japan's trade surplus with the region to 133.59 billion yen, up 29.8 percent.
Exports to Asia rose 23.8 percent to 3,343.01 billion yen, but the pace of growth slowed since earlier this year.
Japan saw a 22.7 percent rise in exports to China in July with the value totaling 1,156.89 billion yen, and its trade balance with the country returned to a surplus for the first time in four months.
The figures are measured on a customs-cleared basis before adjustments for seasonal factors. (1 U.S. dollar is equivalent to 84 yen)