Japan’s exports grow for a third month as trade deficit sinks to $2.5 billion
Japan’s exports have risen 7.8% in February, as shipments continued to expand in cars and electrical machinery
TOKYO (AP) — Japan’s exports rose 7.8% in February, as shipments continued to expand in cars and electrical machinery, according to government data released Thursday.
The nation’s trade deficit sank to 379 billion yen ($2.5 billion), marking the second straight month of a deficit.
Imports grew in food, medical products and computers, while declining in autos and power-generating machines. They inched up 0.5% from the previous year, totaling nearly 9 trillion yen ($60 billion).
The strength in exports come as good news, coming a day after the Bank of Japan raised its key interest rate for the first time in 17 years, no longer setting it at below zero. The central bank has promised to still keep lending easy as it gauges various signs for how growth holds up.
