Wednesday, March 21, 2012

Japan posts surprise trade surplus in February

Mihama nuclear power station

Japan posted a surprise trade surplus in February, after a record high deficit the previous month.

The surplus stood at 32.9bn yen ($394m; £248m), the ministry of finance said. In January the deficit came in at 1.5tn yen.

Japan has had to increase energy imports, as most of its nuclear reactors remain shut.

Analysts said that the February surplus was a results of improving trade with the US.

"Exports to the United States are growing and we have seen signs that the US economy has hit a bottom, so this is a positive sign for Japan's exports," said Shuji Tonouchi from Mitsubishi UFJ Morgan Stanley Securities in Tokyo.



Source & Image : BBC

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