JEQ - Japan's trade balance swings to surplus in March as exports surges while imports decline
2024-04-17 01:10:56 ET
- Japan’s trade balance shifted to a surplus in March as exports surged while imports declined. A private survey showed that sentiment among manufacturers in the country eased in April as a weakening yen pushed up import costs.
- Japan's trade balance shifted to a surplus of JPY 366,467 billion in March 2024 from a deficit of JPY 750,854 billion in the same period of the prior year, marking the first trade surplus in three months, as exports grew while imports fell.
- Shipments rose by 7.3% y/y, the fourth straight month of growth, to the largest amount in three months of JPY 9,469.60 billion, amid robust demand from the US and China.
- Exports from Japan rose by 7.3% y/y to a 3-month peak of JPY 9,469.60 billion in March 2024, following a 7.8% growth in February.
- Imports to Japan shrank by 4.9% y/y to JPY 9,103.13 billion in March 2024, reversing a 0.5% rise in February while marking the second time of fall this year.
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Japan's Nikkei 225 ( NKY:IND ) fell 0.6% to around 38,250 on Wednesday, with Japanese shares sliding for the third straight session.
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( USD:JPY ) is trading at 154.639.
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