Japan Has Y242.769 Billion Trade Surplus In February
Japan posted a merchandise trade surplus of 242.769 billion yen in February, the Ministry of Finance said on Thursday.
That missed forecasts for a surplus of 235.0 billion yen following the 648.8 billion yen deficit in January.
Exports were down 4.0 percent on year in February, shy of estimates for a decline of 3.0 percent following the 12.9 percent decline in the previous month.
Exports to all of Asia fell 6.1 percent on year to 2.882 trillion yen, while exports to China alone gained 5.1 percent to 933.922 billion yen.
Exports to the United States added an annual 0.2 percent to 1.218 trillion yen, while exports to the European Union jumped 9.2 percent to 678.546 billion yen.
Imports fell an annual 14.2 percent versus forecasts for 15.8 percent following the 17.8 percent contraction a month earlier.
Imports from the rest of Asia fell 15.9 percent on year to 2.705 trillion yen, while imports from just China tumbled 20.8 percent to 1.316 trillion yen.
Imports from the United States gained an annual 5.1 percent to 604.054 billion yen, while imports from the European Union jumped an annual 14.2 percent to 711.951 billion yen.
The adjusted trade surplus was 166.1 billion yen - missing expectations for 400.2 billion yen but up from the downwardly revised 73.2 billion yen a month earlier (originally 119.4 billion).
The material has been provided by InstaForex Company - www.instaforex.com
