🚀 AI-picked stocks soar in May. PRFT is +55%—in just 16 days! Don’t miss June’s top picks.Unlock full list

Japan exports surge, trade deficit shrinks more than expected in Feb

Published 03/21/2024, 08:08 AM
© Reuters.
USD/JPY
-
JP225
-

Investing.com-- Japan’s exports grew more than expected in February, spurring a bigger-than-expected drop in the country’s trade deficit as demand in China and the U.S. remained robust. 

Exports grew 7.8% year-on-year in February, more than expectations for a rise of 5.3% but slower than the 11.9% jump seen in January.

This saw the country’s trade balance fall to a deficit of 379.4 billion yen, compared to expectations for a deficit of 810.2 billion yen and substantially lower than the 1.76 trillion yen deficit seen in Jan.

Shipments to China and the U.S. both grew in Feb and were the biggest contributors to the stronger trade balance. The two are Japan’s biggest export destinations, with an economic slowdown in China having pressured the Japanese economy over the past year with weak export demand.

But sustained stimulus measures from Beijing saw some signs of life in the Chinese economy over the past two months.

The smaller-than-expected trade deficit was also driven by a weaker-than-expected increase in Japanese imports, which grew 0.5% year-on-year in Feb, slower than projections for a rise of 2.2%. But the reading was Japan’s first instance of import growth in 11 months, and indicated that domestic demand was beginning to improve after being largely battered by sticky inflation and a weak yen over the past year.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.