Japan narrowed its trade deficit in February, as imports fell and exports rose from the levels seen in January, according to Japan’s Ministry of Finance.
Japanese imports were valued at 6.1 trillion yen (about US$64.8 billion) in February 2013, up almost 12 percent over February 2012, when they were valued at $57.9 billion. February was the fourth straight month of year-over-year import growth in Japan. Import value in February was, however, down 5.7 percent from January, when it stood at $68.8 billion. For the first two months of 2013, imports were valued at $133.6 billion, 9.5 percent higher than they were during the same period in 2012. Total imports during the full year 2012 were valued at $756 billion, which was 3.8 percent higher than the level seen in 2011.
Japanese exports in February totaled $56.5 billion, down 3 percent year-over-year but up more than 10 percent month-to-month. For the first two months of 2012, exports were valued at $107.8 billion, 1.3 percent higher than they were during the same period in 2012. For the full year of 2012, exports were down 2.7 percent from 2011 at $681.9 billion.