Japan’s trade surplus shows a sharp rise in January
As per the data released by Finance Ministry, Japan's trade surplus amounted to Yen 507.1 billion ($4.7 billion) in January. This figure indicated an almost fivefold increase from a year earlier as exports to China and other Asian countries expanded while imports from the US dropped. Total exports in January rose by 11.3% to Yen 4.3 trillion ($40 billion). January exports to the US fell by 5.4% to Yen 992.7 billion ($9.2 billion) for the first time in seven years due to the sharp rise in the Yen's value. Exports to Asia surged by 20.8% to Yen 1.98 trillion ($18 billion) while imports from Asia were up by 4.3% to Yen 1.73 trillion ($16 billion). As a result, the trade surplus with Asia reached Yen 243.6 billion ($2 billion) in January. In addition, exports to China jumped by 33.8% due to increased demand of machineries and electronic materials. The trade surplus with EU increased by 25.1% to Yen 198.1 billion ($1.8 billion) due to more imports of motorbikes, automobiles and digital cameras.