Japan's Trade Gap Narrows to 2-Year Low
Japan's trade deficit declined to ¥425 Billion in February of 2015, from ¥806 Billion a year earlier as exports rose by 2.4 percent and imports dropped by 3.6 percent.
In February, exports grew 2.4 percent year-on-year to ¥5941 billion, higher than expected as weakened yen provided support for Japanese producers.
Sales to Hong Kong rose by 10.2 percent, to the United States increased by 13.3 percent and to Western Europe by 1.7 percent. Sales to Asia, which account for more than half of the country's total exports, declined 1.1 percent after surging 23 percent a month earlier. Shipments to China dropped by 17.3 percent distorted by the Chinese New Year, which fell in the middle of February this year. Exports to Taiwan were down by 1.7 percent and to South Korea by 3.2 percent.
By commodity, value of exports increased for electrical machinery (6 percent), manufactured goods (3 percent) and transport equipment (4.1 percent).
Imports declined by 3.6 percent year-on-year to ¥6366 billion as value mineral fuels shipments decreased by 35.6 percent. The petroleum imports dropped by 54.8 percent and shipments of liquified natural were lower 38.8 percent.
3/18/2015 12:23:30 AM