Japan Marks a Record 20-Month Run of Trade Deficits
Japanese trade balance came to a deficit of ¥800.3 billion in February of 2014, narrower than a record gap of ¥2.8 trillion reported in January of 2014 but larger than a deficit of ¥781.3 billion reported in the same month of 2013.
Exports by value rose 9.8 percent to 5.8 trillion yen. Shipments to China surged 27.7 percent and to Hong Kong by 24 percent. Exports to the United States grew by 5.7 percent and to Western Europe by 11.7 percent.
Imports rose 9 percent year-on-year to 6.6 trillion yen. While iInward shipments of crude oil declined by 6.4 percent after a 28.1 percent surge in January of 2014, domestic importers rushed to stock up on luxury cars, electronics and furniture ahead of an increase in the sales tax on April 1.
3/19/2014 12:27:52 AM