Japan's exports rise for fourth straight month, partly boosted by weaker yen

By Makiko Yamazaki

TOKYO, Jan 22 (Reuters) - Japan's exports rose for a fourth straight month in December, government data showed on ​Thursday, as slower shipments to the U.S. were offset ‌by strong demand elsewhere as well as by a boost to sales from the ‌yen's decline.

Total exports by value rose 5.1% year-on-year in, data showed, less than a median market forecast for a 6.1% increase and after a 6.1% rise in November.

Exports to the United States fell 11.1% in December ⁠from a year earlier, ‌while those to China were up 5.6%, the data showed.

Imports grew 5.3% in December from a year earlier, ‍compared with market forecasts for a 3.6% increase.

As a result, Japan ran a trade surplus of 105.7 billion yen ($667.13 million), compared with the forecast of ​a surplus of 356.6 billion yen.

Japan's export performance has been bolstered ‌by the yen's depreciation, a firm U.S. economy and a September trade agreement with Washington that set a baseline 15% tariff on nearly all goods.

While U.S.-bound exports fell in December, the impact from U.S. tariffs overall has proven milder than expected.

That led the Japanese government ⁠to revise its economic growth forecast for ​the fiscal year through March to ​1.1%, up from an earlier 0.7%.

Amid easing concerns over trade frictions, the Bank of Japan raised its policy rate ‍to a 30-year ⁠high of 0.75% in December.

The central bank is expected to signal its readiness for further rate hikes at its two-day policy ⁠meeting ending on Friday, as recent yen falls and prospects of solid wage gains ‌keep policymakers to containing inflationary pressure.

($1 = 158.4400 yen)

(Reporting ‌by Makiko YamazakiEditing by Shri Navaratnam)