Japan Reports the Biggest Trade Deficit On Record for the Month of February


Japan reported a trade deficit of 777.5 billion yen in February as exports unexpectedly fell by 2.9% from a year earlier and imports surged 11.9%.

February’s deficit was the eighth consecutive monthly trade shortfall, the longest stretch since 1980.

Japan's exports, a key driver of its growth, have dipped in seven of the past eight months.

Exports to China fell 15.8 percent as Asia’s largest economy celebrated the week-long Lunar New Year holiday in February, while shipments to Asia dropped 5.2 percent. Exports to the U.S. rose 5.7 percent, while those to the European Union fell 9.6 percent.

 

 

 

 


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3/21/2013 12:14:44 AM