Japan logs 1st trade surplus in 2 months in Feb.

March 19, 2018

Tokyo- Japan logged its first customs-cleared trade surplus in two months in February due mainly to brisk vehicle exports to the United States, the Finance Ministry said Monday.

Japan posted a trade surplus of 3.4 billion yen, larger than the median forecast of 3.1 billion yen among 21 research institutes surveyed by Jiji Press. In February last year, the country had a surplus of 804.5 billion yen.

Exports went up 1.8 percent from a year before to 6,463 billion yen, up for 15 months in a row, thanks chiefly to robust shipments of hybrid vehicles to the United States.

Imports jumped 16.5 percent to 6,459.6 billion yen on rising clothing imports from China ahead of the country's Lunar New Year holiday period as well as higher prices for oil and other commodities.

Japan's trade surplus with the United States expanded 3.4 percent to 630.9 billion yen, the first growth in three months.

Japan's exports to the United States grew 4.3 percent to 1,276.2 billion yen on increased shipments of automobiles and mineral fuels.

US-bound steel exports from Japan tumbled 16.4 percent. Early this month. U.S. President Donald Trump signed proclamations imposing tariffs on steel and aluminum imports.

In trade with mainland China, Japan posted a deficit of 425 billion yen, the 12th straight month of red ink.

Exports of parts and materials bound for plants in China dropped as they suspended operations due to the Lunar New Year holidays. Jiji Press