Japan’s trade deficit narrowed in February, with exports to the US rising sharply as the yen remained historically weak against the dollar, data showed on Thursday.
The country’s overall trade deficit narrowed to ¥379.4bn ($2.5bn), down 59 per cent from the same period last year and narrowing substantially from the January deficit of ¥1.76tn.
Exports to the US climbed 18 per cent year on year to ¥1.72tn, leading to a surplus of ¥712bn. But Japan’s trade deficit with China was ¥437bn, more than double the figure from the same period last year.
“Japan’s trade position has improved in the past year as falling global commodity prices have lowered the value of imported goods and easing supply chains have boosted exports,” Moody’s Analytics wrote in a note on Thursday.
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