Japan's Trade Surplus Fell 91.2 pct in February

Japan's trade surplus fell 91.2 percent in February year on year to 82.4 billion yen (841 million dollars), the Finance Ministry said Wednesday.

Exports declined 49.4 percent, surpassing January's slump of 45. 7 percent, while imports fell 43.0 percent, the ministry said in a preliminary report.

The trade surplus with the United States slipped 79.0 percent, while that with the rest of Asia shrank 58.9 percent.

Japan posted a trade surplus of 13.5 billion yen (138 million dollars) with the Chinese mainland, the first black ink figure in six months, as the nation's imports fell faster than exports.

Trade data are measured on a customs-cleared basis before adjustments for seasonal factors.

Japan's economy, which is heavily dependent on foreign demand, logged its worst performance in almost 35 years in the last quarter of 2008, contracting at an annualized pace of 12.1 percent.

Source: CRIEnglish