Japan posted a 4.4 billion yen trade surplus in January, against a deficit of 353.5 billion yen a year ago, thanks to increased exports of automobiles to the United States and electronics components to China, the Finance Ministry said Thursday.
Last January, Japan logged its first trade deficit in five years as exports slowed. January exports generally tend to be lower than other months as many factories close for the New Year's holidays.
However, exports in January jumped 18.9 percent to 5.95 trillion yen, led by a 22.3 percent rise in automobile shipments mainly to the U.S. and a 24.0 percent increase in semiconductors and electronic devices to China, the ministry said.
Exports rose to the highest level on record for January, it said.
Imports rose 10.9 percent to 5.95 trillion yen due to higher prices of crude oil, nonferrous metals and liquefied natural gas.
The average price of crude oil in January rose 7.1 percent to $60.40 a barrel from a year earlier. It was an increase from $58.5 in December and $59.8 in November but below the record $72.1 in September.
Japan's trade surplus with the U.S. narrowed 0.1 percent to 572 billion yen. While exports led by automobile shipments rose 5.5 percent, imports also rose 10.8 percent due to increased purchases of aircraft.
The trade deficit with China shrank 33.9 percent to 368.0 billion yen as exports jumped 50.8 percent on strong demand for semiconductors and electronic devices used in game consoles. Exports to the European Union rose 12.9 percent to 898.1 billion yen on growing automobile shipments. Japan's trade surplus with the region was 285.3 billion yen, up 31.5 percent from the same month a year ago.