TOKYO – Japan achieved a trade surplus of 614.72 billion yen ($5.638 billion) in March, its second consecutive month of surplus since the beginning of the year, the government reported on Thursday.
However, Japan’s trade surplus in March was 17.5 percent lower than that of the same month in 2016, and 24.4 percent lower than in February, according to Ministry of Finance data.
Exports in March grew 12 percent year-on-year to 7.23 trillion yen, while imports rose 15.8 percent from the same month in 2016 to 6.61 trillion yen.
By countries, Japan recorded a deficit of 319.805 billion yen with China, its largest trading partner, a year-on-year decrease of 9.2 percent.
With the world’s largest economy and its second largest trading partner, the United States, Japan had a trade surplus of 628.139 billion yen, an 8.1 percent decrease from the same month in 2016.
As for the European Union, its third largest trading partner, Japan recorded a surplus of 68.428 billion yen, a 35.5 percent drop from March 2016.
With Brazil, the Asian country recorded a negative balance of 27 billion yen, a 35.1 percent year-on-year decrease.
Japan’s deficit with Chile in March increased 4.5 percent year-on-year to 34.28 billion yen.
On the other hand, Japan’s surplus with Mexico reached 56.916 million yen, representing a 13.2 percent increase from the same month in 2016.