Japan's Trade Surplus Contracts in February as Export Growth Slows

MT Newswires Live03-18 09:52

Japan's trade surplus contracted to 57.3 billion yen in February from 559.2 billion yen a year earlier as exports decelerated, provisional data from the Ministry of Finance on Wednesday showed.

Exports during the month rose 4.2% to 9.572 trillion yen from 9.19 trillion yen, after shipments to its two largest trading partners, China and the US, fell 10.9% and 8%, respectively.

This reading is lower compared with the export growth of 16.8% the month prior.

The EU saw a 14% rise in imports, led by strong shipments of cars and machinery for the building and mining sectors.

Imports, meanwhile, grew 10.2% on year to 9.514 trillion yen from 8.630 trillion yen, boosted by gains in imports from China, Taiwan, Vietnam and other Asian countries.

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