MNI DATA IMPACT: Japan Feb Exports Edged Up, Imports Dropped

     TOKYO (MNI) - Japan's exports edged up in February but imports plunged due

to disruptions from the coronavirus with an impact from its first days in China,

data released by the Ministry of Finance showed Wednesday.

     The key points from the data:

     --Japan's exports fell 1.0% y/y in February, slower than the previous 2.6%

y/y drop, posting a 15th straight monthly fall. The decrease was not as large as

forecast by the MNI median, which projected a 3.6% y/y drop.

     --Imports dropped sharply by 14.0% y/y in February, after the 3.6% y/y fall

recorded last month, marking the 10th consecutive monthly fall. MNI's survey

pointed to a 15.2% y/y fall. 

     --February's trade balance reported a Y1.11 trillion surplus. This almost

wiped off the Y1.31 trillion deficit last month and was higher than the expected

Y930 billion projected by MNI.

     --Exports to China fell 0.4% y/y, an improvement on the previous 6.4% y/y

drop. Exports to the United States fell 2.6% y/y, improving from the 7.7% y/y

drop, while those to the European Union dropped 7.7% y/y, quicker than the 1.9%

y/y fall recorded in January. 

     --Imports from the US declined 5.9% y/y, improving from the previous  11.5%

y/y fall, and those from the EU edged down 8.2% y/y, following the 2.3% y/y

decrease in January. Imports from China dropped a dramatic 47.1% y/y after the

5.7% y/y drop, due the outbreak of the coronavirus.

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

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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