Japan's exports and imports hit record highs in the first half of 2004, underscoring solid growth in the Japanese and world economies, the Finance Ministry said Thursday.

Exports rose 12.5 percent in the January-June period from a year earlier to 29.60 trillion yen, while imports increased 6.6 percent to 23.42 trillion yen -- both the highest levels since comparable data were made available in 1947, the ministry said in a preliminary report.

The trade surplus -- exports minus imports -- jumped 42.4 percent to 6.18 trillion yen, the 11th highest level on record and marking the second straight half-yearly increase.