— Japan Feb Trade Surplus Y654.11 Bln Vs Surplus 638.28 Bln Yr Ago
— Japan Feb Trade MNI Median Forecast: Y890.4 Bln Surplus, +37.6% Y/Y
— Japan Feb Exports +9.0% Y/Y, Up 15 Months In Row
— Japan Feb Imports +9.9% Y/Y, Up 14 Months In Row
— Japan Feb Exports To US +2.0% Y/Y, Up 14 Months In Row
— Japan Feb Exports To EU +12.7% Y/Y, 1st Rise in 2 Months
— Japan Feb Exports To Asia +12.3% Y/Y, Up 16 Months In Row
— Japan Feb Exports To China +29.1% Y/Y, Up 16 Months In Row

TOKYO (MNI) – Japan’s trade balance returned to surplus in February
on solid exports to Asia, after posting the first deficit in nearly two
years in January due to regional holidays, Ministry of Finance data
released on Thursday showed.

Japan logged a trade surplus of Y654.11 billion last month,
compared with a surplus of Y638.28 billion in the same month a year
earlier.

Japan posted a revised trade deficit of Y475.31 billion in January,
the first deficit since March 2009.

While Japan returned to a trade surplus, economists warned of
growing downside risks to the trade sector due to the March 11
earthquake and tsunami, which has paralyzed production facilities, power
supplies and distribution networks in northeastern Japan.

The February figures came in weaker than the median forecast by
economists in a Market News International survey — a rise of 37.6% y/y
to a surplus of Y890.4 billion.

The upturn in February this year was due mainly to accelerated
shipments to China following a slowdown in late January ahead of the
Chinese Lunar New Year holidays on Feb 2-8.

Japanese exports rose 9.0% in February from a year earlier to Y5.59
trillion, the 15th straight year-on-year gain. The pace of export growth
picked up from +1.4% in January, which was the lowest rate of growth
since -6.3% marked in November 2009.

Imports gained 9.9% in February to Y4.93 trillion, posting the 14th
consecutive y/y rise following a revised growth of 12.5% in January.

Exports to China rose 29.1% in February from a year earlier to
Y1.16 trillion, which was the largest amount for the month of February
in data series history and was up from a 0.9% rise in January.

tokyo@marketnews.com
** Market News International Tokyo Newsroom: 81-3-5403-4835 **

[TOPICS: M$J$$$,M$A$$$,MAJDS$,MT$$$$]