Japan's 2016 trade data shows black ink for 1st time in 6 years

Japan posted a trade surplus in 2016, marking the first time in six years import costs haven't outstripped those of exports, owing to a decline in energy prices, the Finance Ministry said on Wednesday.

The surplus for the year stood at 4.07 trillion yen (35.83 billion U.S. dollars), the ministry said, with imports dropping 15.9 to 65.97 trillion yen, down 15.9 percent, while exports retreated for the first time in four years, to 70.04 trillion yen, a decline of 7.4 percent.

The finance ministry said that exports to the United States fell 7.1 percent to 14.14 trillion yen on a custom-cleared basis, while imports were down 9.3 percent to 7.31 trillion yen.

China-bound exports retreated to 12.36 trillion yen, down 6.5 percent, in the reporting period, while imports fell 12.4 percent to 17.02 trillion yen, the ministry's latest figures showed.

Exports to the European Union were relatively flat at 7.98 trillion yen and imports dropped to 8.14 trillion yen, a retreat of 5.7 percent, in the reporting year, said the ministry.

In December, Japan posted a trade surplus for the fourth successive month, standing at 641.43 billion yen, as imports declined to 6.04 trillion yen, a drop of 2.6 percent, while exports expanded in the reporting month to 6.68 trillion yen, equivalent to a 5.4 percent increase. Enditem