Japan trade balance for February Y 217.4bn yen
expected Y 420bn, prior Y -325bn
Trade balance adjusted Y -38.7bn yen
expected Y -119.0bn, prior Y 392.8bn
Exports -4.5% y/y, a big miss
expected -0.2% y/y, prior +6.4%
Imports close to inline at +11.8% y/y
expected +12.0% y/y, prior -9.5%
Exports to China +3.4% y/y
- to the US -14% y/y
- to Asia -0.8% y/y
- to the EU -3.3% y/y
USD/JPY is barely responsive, which is often the case for Japanese data. Nevertheless, the data showing a slump for February exports from Japan. Exports to China a bright spot (relatively).
