Japan Logs 57.3-B.-Yen Trade Surplus in Feb.

Tokyo, March 18 (Jiji Press)–Japan logged a custom-cleared trade surplus of 57.3 billion yen in February on a preliminary basis, the first black ink in two months, the Finance Ministry said Wednesday. Both imports and exports reached their highest levels ever for the month in value terms. The impact of rising tensions in the Middle East is expected to be reflected in trade figures from March onward. “We want to closely monitor the situation,” an official of the ministry said. In February, Japan’s overall exports grew 4.2 pct from a year earlier to 9,571.6 billion yen, backed by brisk shipments of electronic components including semiconductors to other Asian countries. Japan’s exports to the United States fell 8.0 pct, decreasing for the third straight month, with shipments of vehicles dropping 14.8 pct. The country’s China-bound exports sagged 10.9 pct, apparently due to reduced business activity during the Lunar New Year holiday period. Japan’s overall imports rose 10.2 pct to 9,514.3 billion yen, driven in part by increased purchases of platinum. Crude oil imports fell 4.2 pct, decreasing for 13 straight months. While import volumes increased, unit prices went down. In trade with the United States, Japan recorded a surplus of 681.8 billion yen. Japan had a deficit of 967.3 billion yen in trade with mainland China. END [Copyright The Jiji Press, Ltd.]