Japan posts largest trade surplus in 7 years in February

Japan posts largest trade surplus in 7 years in February

International News

Japan posted a goods trade surplus of 813.4 billion yen ($7.29 billion) in February, the largest in nearly seven years, as exports to China showed solid growth, government data showed Wednesday. Sharp gains in shipments of car parts to China and electronics parts to Hong Kong helped lift Japan’s overall exports by 11.3 percent to 6.35 trillion yen — the third straight month of rise. Imports were up 1.2 percent to 5.53 trillion yen as the value of crude oil imports increased, the Finance Ministry said in a preliminary report. Japan logged its first trade surplus since February 2012 with China, with the balance standing at 111.77 billion yen. Exports surged 28.2 percent to 1.20 trillion yen, while imports fell 17.7 percent to 1.08 trillion yen. The latest data apparently reflect the impact of China’s Lunar New Year holidays that began earlier than a year ago. Exports from Japan to China tend to fall during the holiday period. Japan had a trade surplus of 611.27 billion yen with the United States, marking the first expansion in three months. Exports were up 0.4 percent to 1.22 trillion yen while imports dropped 0.7 percent to 611.90 billion yen.