Japan's merchandise trade surplus in February expanded 7.7 percent to 979.6 billion yen from the same month a year ago, thanks to increased exports of automobiles and steel and a decline in crude oil prices, the Finance Ministry said in a preliminary report Thursday.
The figure was strong enough to offset slowdowns expected to be caused by the Lunar New Year in China and other regions, where business days are often shortened and factories closed for the holidays.
Shipments to the United States, European Union and other parts of Asia rose to a record high for February, the preliminary data said.
Exports, one of Japan's main economic engines, jumped 9.7 percent to 6.42 trillion yen, led by a 19.7 percent rise in automobile shipments mainly to the U.S. and a 28.5 percent increase in steels to Asia, mainly South Korea.
Imports also hit their highest for the month, rising 10.1 percent to 5.44 trillion yen on higher purchases of Chinese-made clothing and accessories, especially jeans, up 48.7 percent, and telecommunications equipment, including mobile phone handsets, up 174.9 percent.
Imports of crude oil dropped 12.0 percent a year earlier. The average price of crude oil in February fell 9.9 percent to $55.01 a barrel from the same month a year ago.
It was the first year-on-year drop since March 2004, a government official said. In September crude oil prices hit a record high of $72.1 on average.
Exports to the U.S. remained firm despite growing concerns of a slump.