Japan posts 2.14 bln USD trade surplus in Feburary on falling oil prices

The Japanese Finance Ministry said Thursday that the country, on customs-cleared basis, logged a goods trade surplus of 242.77 billion yen (around 2.14 billion U.S. dollars) in February following a deficit of 5.75 billion dollars in January, as the falling oil prices helped push down values of imports.

The ministry said in a preliminary report that Japan's exports was down 4.0 percent on year to around 50.56 billion dollars for the fifth consecutive month of decline, while imports plunged 14.2 percent to about 48.43 billion dollars for the 14th straight month of decrease.

According to the report, Japan's exports to China increased 5.1 percent to 8.28 billion U.S. dollars, while imports from the country were down 20.8 percent to 11.71 billion dollars.

Japan's shipments to the United States rose 0.2 percent to 10.82 billion dollars, while imports climbed 5.1 percent to 5.45 billion dollars.

Exports to the European Union jumped 9.2 percent to 6.02 billion dollars and imports grew 14.2 percent to 6.31 billion dollars. Enditem