Japan exports rose 19.1% yoy to JPY 7190B in February. That’s the 12th straight month of growth. Auto exports increased 8.3% yoy, rebounding from January’s -1.0% yoy decline. Exports to the US rose 16.0% yoy to JPY 1.3T. Exports to China rose 25.8% yoy to JPY 1.5T.
Imports rose 34.0% yoy to 7858B. That’s the 13th consecutive month of growth. Crude oil imports surged a massive 93.2% yoy to JPY 08.6B, up for the 11th straight months, on the back of Yen’s depreciation and higher oil prices. Trade deficit came in at JPY -668B.
In seasonally adjusted terms, exports dropped -0.5% mom to JPY 7432B. Imports rose 2.7% mom to JPY 8463B. Trade deficit widened to JPY -1031B.
