By Makiko Yamazaki TOKYO, Jan 22 (Reuters) – Japan's exports rose for a fourth straight month in December thanks to solid data centre-related demand, government data showed on Thursday, but a decline in shipments to the U.S. cast doubts over whether growth could be sustained in coming months. Total exports by value rose 5.1% year-on-year in December, 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, after rebounding for the first time in eight months in November due to a September trade agreement with Washington that set a baseline 15% tariff on nearly all goods. "The temporary boost from reduced uncertainties over the Trump tariffs (following the trade agreement) had mostly run its course by November," Daiwa Institute of Research economist Koki Akimoto said. "From here on, we'll see more of the longer-term impacts of the tariffs. We can't rule out the possibility that the effects of the Trump tariffs will start to materialise more fully as retailers move to pass on tariff costs to consumers," he said. Exports elsewhere were solid in December, with those to Asia jumping 10.2% on strong demand for chips and electronics devices for data centres amid an artificial intelligence boom. Exports to China were up 5.6%. Total 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 a forecast surplus of 356.6 billion yen in a Reuters poll. For the full year of 2025, exports rose 3.1% from the previous year, as Japan escaped a major blow from U.S. tariffs. Imports rose just 0.3%, partly reflecting lower energy prices. As a result, Japan's trade deficit narrowed by 52.9% to 2.7 trillion yen last year. The milder-than-expected tariff impact 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 alert to containing inflationary pressure. ($1 = 158.4400 yen) (Reporting by Makiko Yamazaki; Editing by Shri Navaratnam and Jamie Freed)
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