Japan's Trade Surplus Expands in March as Exports to China, US Jump

MT Newswires Live08:54

Japan's trade surplus expanded to nearly 667 billion yen in March from 529.8 billion yen a year earlier as exports outpaced imports, data from the Ministry of Finance on Wednesday showed.

Exports during the month climbed 11.7% to 11.003 trillion yen from 9.852 trillion yen, after shipments to its two largest trading partners, China and the US, rose 17.7% and 3.4%, respectively.

This March export reading is triple that of the export growth of 4% the month prior.

Exports to the Middle East plunged 45.9% while imports fell 10.7%, as the Iran war effectively shut the Strait of Hormuz, a vital waterway for Japan's oil imports from the region.

Overall imports, meanwhile, grew 10.9% on year to 10.336 trillion yen from 9.322 trillion yen, boosted mostly by imports from Asian nations.

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