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Japan logs 2.5 billion U.S. dollars trade deficit in February on record exports

TOKYO
2024-03-21 11:33

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TOKYO, March 21 (Xinhua) -- Japan's trade deficit shrank by roughly 60 percent from a year earlier to 379.4 billion yen (2.5 billion U.S. dollars) in February, helped by record exports, government data showed Thursday.

Exports rose 7.8 percent to 8.25 trillion yen, up for the third straight month to hit a February record, as shipments of cars and auto parts increased, according to the Finance Ministry's preliminary report.

By destination, China-bound shipments went up 2.5 percent while exports to the U.S. and European Union climbed 18.4 percent and 14.6 percent, respectively.

Meanwhile, imports inched up 0.5 percent to 8.63 trillion yen, increasing for the first time in 11 months, the report said.

Shipments of clothing and accessories grew 27.5 percent, while energy imports, which had boosted the value of overall shipments into Japan, continued to fall, with coal tumbling 39.6 percent and liquefied natural gas dropping 21.1 percent. (1 Japanese yen equals 0.0067 U.S. dollars)
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