Japan’s Trade Surplus Up 18% to $11.5 Billion

Japan’s trade surplus widened for a third straight month in February. It rose 18% last month to about $11.5 billion, seasonally adjusted, as shipments to other Asian nations boosted exports, the Finance Ministry said. Economists had expected a smaller rise of 5%. Compared with a year ago, the surplus grew 26.8% to $16.8 billion, not adjusted for seasonal factors. Demand for Japanese goods is growing as Asia returns to prosperity and the U.S. extends its record expansion. That’s good news for auto makers such as Mitsubishi Motors Corp. and the government, which is looking to exporters to underpin a return to economic growth this year. “Although U.S. economic growth is expected to slow down now, we can expect Japan’s exports to keep rising,” said Tomoko Fujii, senior economist at Nikko Salomon Smith Barney Ltd. “The recovery of exports will be maintained,” helped by demand from Asia.