Japan’s Trade Surplus Declines

Japan’s trade surplus in January fell 83 percent from the same month last year, marking the seventh straight month of decline, the government said Monday.

The Finance Ministry said Japan’s merchandise trade surplus for January - measured as goods pass customs but before adjustment for seasonal factors - dropped to $467.08 million from $2.75 billion a year earlier.

Japan’s surplus with the United States, its biggest trading partner, fell 51 percent, the ministry said, marking the eighth straight month of decline. The politically sensitive trade surplus fell to $1.55 billion in January from $3.19 billion a year earlier.

Japan normally posts a lower trade surplus in January than in other months because its long new year’s holiday slows the country’s production and export activities.

However, a ministry official told reporters that the surplus is expected to continue shrinking, reflecting the rapid increase in imports. Imports have been growing continuously for 2-1/2 years, he said.