Mount Fuji, Japan

Japan Trade Balance March 2021

Japan: Exports surge in March

Yen-denominated merchandise exports rocketed 16.1% year-on-year in March, contrasting February’s 4.5% decrease. March’s result marked the best result since November 2017. Meanwhile, imports climbed 5.7% on an annual basis in March (February: +11.8% yoy).

As a result, the merchandise trade balance rose to a JPY 0.7 trillion surplus in March, following the JPY 0.2 trillion surfeit from the prior month. Lastly, the trend pointed up, with the 12-month trailing merchandise trade balance recording a JPY 1.3 trillion surplus in March, compared to the JPY 0.7 trillion surplus in February.

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