Tokyo, Mar. 16, (dpa/GNA) – Japan posted a merchandise trade deficit of 668.3 billion yen (5.6 billion dollars) in February, the Ministry of Finance said on Wednesday.
The figures marked Japan’s seventh month in a row of trade deficits. They also missed expectations for a deficit of 112.6 billion yen.
Exports climbed 19.1 per cent on-year to 7.190 trillion yen, shy of forecasts for an increase of 21 per cent but still up from the 9.6 per cent gain in the previous month.
Imports rose by 34 per cent year on year, compared to expectations for an increase of 28 per cent following a 38.7 per cent increase a month earlier, revised down from an original 39.6 per cent.
Japan, a resource-poor island kingdom, has been affected by the continued rise in the cost of energy imports.
While crude oil imports rose by 93.2 per cent to 808 billion yen, it is difficult to say how much the war in Ukraine, which began towards the end of the month, is already reflected in the February data, the Ministry of Finance said.
GNA