MNI DATA IMPACT: Japan Feb Exports -1.2% Y/Y; Imports -6.7% YY

--Japan Feb Exports -1.2% Y/Y Vs MNI median +0.7%

--Japan Feb Imports -6.7% Y/Y Vs MNI median -6.1%

--Japan Feb Surplus Y339.0 bln Vs MNI median Y353.1 bln

     TOKYO (MNI) - Japan's exports and imports both both fell further in

January, reflecting sluggish global demand, data released Monday by the Ministry

of Finance showed.

     The key points from the data:

     --Japan's exports fell 1.2% on year in February, improving from the 8.4%

decrease seen in January, but posting a third straight monthly fall, coming in

below an MNI median economist forecast looking for a 0.7% increase.

     --Imports decreased by 6.7% on year in February, down sharply from

January's -0.6% but close to MNI's median projected for a 6.1% drop. It was only

the second year-on-year drop in 11 months.

     --February's trade balance, driven by lower imports, increased to Y339.0

billion from Y1.42 trillion deficit in the previous month.

     --Exports to the European Union and China rebounded, up 2.5% and 5.5%

respectively, compared with the 2.5% and 17.4% falls seen in January. Exports to

the U.S., however, slid to +2.0% from January's +6.8%. 

     --Imports from China tumbled to -15.8% in February from January's 5.7%

gain, reflecting the Chinese New Year Holiday. Those from the U.S. slowed to

4.9% in February from the 7.7% in January. Imports from the EU rose by 0.5%, up

from 2.8% drop in January. 

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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