Business & Economy

Japan logs trade surplus of $6.1 billion in March

Tokyo, Apr 19 (EFE).- Japan logged a trade surplus of 663.7 billion yen (about $6.1 billion) in March as exports also posted the most robust surge in over three years, said the government data released Monday.

The trade surplus figure is higher than recorded in March 2020 and three times more than registered in February, the finance ministry said in preliminary data.

The figures signal the global economy continues to recover from the last year’s slump due to the coronavirus pandemic that had put brakes on the economic activities across the world.

The ministry said the Japanese exports increased by 16.1 percent year-on-year to 7.4 trillion yen. It is the biggest expansion since November 2017, when exports registered a growth of 16.2 percent.

Japan’s exports had declined by 4.5 percent year-on-year in February this year to 6.04 trillion yen.

Imports increased by 5.7 percent to 6.7 trillion yen, according to the data.

Japan registered a surplus trade of 57.5 billion yen with China as shipments to its largest trading partner soared 37.2 percent in the year to March.

It is in contrast to the negative trade balance a year earlier.

With the United States, Japan logged a growth of 44.9 billion yen, which is 2.1 percent more year-on-year, amid solid demand for cars and construction machinery.

With the European Union, its third trading partner, Japan widened its deficit by 123.4 percent to 84.2 billion yen.

The country narrowed its trade deficit with Brazil by 32.5 percent to 19.5 billion yen and by 16. 5 percent with Chile to 45.2 billion yen.

Japan recorded a surplus of 49.7 billion yen with Mexico that is 61.1 percent more than last year. EFE


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