Japanese export growth accelerates to 19.1% in February

The Ministry of Finance of Japan announced an increase in export deliveries in February to 7.2 trillion yen, 19.1% more than a year ago. In January, Japanese exports grew by only 9.6%. Despite the high February figure, it turned out to be lower than the forecast of the polled analysts. They expected an increase in export deliveries by 21%. Among the main trading partners of Japan, China became the leader in terms of export growth in February. Deliveries to this country increased year on year by 25.8%. Exports of Japanese products to the United States and Germany rose by 16% and 8.6%, respectively. Japan’s imports jumped to 7.9 trillion yen in February, up 34% from the same month last year. At the same time, import growth was more significant in January. Its volume increased by 39.6%. Analysts expected a 28% increase in imports. Imports of American products to Japan soared by 38.9%. Shipments from China increased by 5.8%, while those from Germany decreased by 10.4%. The country’s foreign trade balance deficit decreased in February compared to January by more than three times. It amounted to 668.3 billion yen.

Source: xCritical.com