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Japanese recorded trade surplus for the first time since 2011 Fukushima nuclear disaster following weaker import bills on crude. December trade balance came at 641.4 billion yen, higher than the previous reading of 150.8 billion yen. This also comes way higher than the consensus expectations of 281.1 billion yen.
A quake-triggered tsunami swamped the Fukushima plant in 2011, sending some reactors into meltdown and setting off the worst nuclear accident in a generation. Japan’s energy bill skyrocketed in the years after the disaster as the country turned to pricey fossil fuel alternatives. Lower energy prices have helped take pressure off Japan’s trade balance, reported Japantoday.
Japan exports climbed for the first time in 15-months by 5.4 percent y/y, beating market expectations of 1.1 percent y/y growth, positive from -0.4 percent in November. On the hand, the country's imports slid -2.6 percent y/y as compared to -8.8 percent in November.
In addition, exports to the United States bounced 1.3 percent y/y, to China jumped +12.5 percent y/y, Asian countries 12 percent y/y, while EU fell 4 percent y/y.
