Japan records trade surplus as export growth balances out weak China demand
ABC News
Japan has recorded a trade surplus of 57.3 billion yen, or $360 million, in February, according to government data, reversing from a deficit a month earlier
TOKYO -- TOKYO (AP) — Japan recorded a trade surplus of 57.3 billion yen ($360 million) in February, according to government data released Wednesday, reversing from a deficit a month earlier.
Exports grew at a better-than-expected 4.2% in February to 9.57 trillion yen, the Finance Ministry’s seasonally adjusted preliminary data show.
Imports grew 10.2% on-year to 9.51 trillion yen following a 2.5% contraction in January.
Japan posted a 1.15 trillion trade deficit that month.
Import costs are likely to rise as the effective closure of the Strait of Hormuz due to the war against Iran drives up oil and other energy prices.
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