Japan's exports jumped 10.1% in May

It beat market's expectations.

According to BBVA Research, Japan May exports beat expectations, on further signs of recovery as export growth in May, released yesterday, increased to 10.1% y/y (consensus: 6.4%) from 3.8% in April, providing further evidence of competitiveness gains in the wake of the yen’s depreciation.

Here's more:

Meanwhile, imports rose by 10.0% y/y, resulting in an eleventh monthly trade deficit, at -993.9 bn yen. The Japanese economy, growing by 4.1% saar in Q1, is expected to recover further and expand 1.7% in 2013.

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