Japan's trade surplus reached ¥301.9 billion ($1.9 billion) in April, defying analyst forecasts of a deficit, as exports surged and energy imports fell sharply.

Japan's trade balance in April was a ¥301.9 billion ($1.9 billion) surplus on an unadjusted basis, according to the Finance Ministry. Analysts had forecast a ¥44.5 billion deficit.

The value of exports rose 14.8% in April from a year earlier, while the value of imports gained 9.7%. The trade surplus was driven by strong exports and a sharp drop in energy imports.

Japan's trade balance remained in the black for a third consecutive month.