Hisane Masaki | Feb 24, 2010 9:23AM EST
Japan's exports to the rest of the world rose for the second consecutive month in January, surging 40.9 percent from a year earlier to $54.5 billion, according to preliminary figures released by the Finance Ministry on Wednesday.
Automobiles, electronic parts, including semiconductors, and auto parts led the rise in exports.
Japan's imports from the rest of the world also increased for the first time in 15 months in January, growing 8.6 percent to $53.5 billion.
Petroleum products (with a 97 percent surge), crude oil and electronic parts, including semiconductors led the increase in imports.
As a result, Japan posted its 12th consecutive monthly trade surplus with the rest of the world. January’s $946.7 million surplus compared with a deficit of $10.6 billion a year earlier.
Japan's exports to the United States rose for the first time in 29 months in January, growing 24.2 percent to $7.9 billion, while its imports from the United States also increased for the first time in 16 months, growing 7.8 percent from a year earlier to $5.3 billion.
As a result, Japan's trade surplus with the United States expanded for the first time in two months in January, ballooning 78.7 percent to $2.63 billion.
The year-on-year rise in Japan's U.S.-bound exports in January was led by a
Automobiles, auto parts and electronic parts, including semiconductors led the rise in U.S.-bound exports.
Aircraft, scientific and optical equipments and electronic parts, including semiconductors led the rise in imports from the United States.
Japan's exports to China rose for the third consecutive month in January, growing 79.9 percent to $10.22 billion, while its imports from China fell for 15 months in succession with a 2.3 percent drop in January to $11.68 billion.
As a result, Japan posted a trade deficit of $1.46 billion with China in January. It was the first deficit in two months, but the size of the January deficit was down 76.8 percent from a year earlier.
China supplanted the U.S. as Japan's biggest export market in 2009 for the first time since the end of World War II. China has already been Japan's largest import source since 2002 and largest trading partner since 2007.
Contact Hisane Masaki at yiu45535@nifty.com.