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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Japan's exports up 45 percent in February By TOMOKO A. HOSAKA,Associated Press Writer - Wednesday, March 24 Send IM Story Print TOKYO – Japan's exports climbed sharply in February, as a solidifying global recovery fueled the world's appetite for cars, machinery and gadgets. Exports jumped 45.3 percent from a year earlier to 5.13 trillion yen ($56.7 billion), marking the third straight month of year-on-year increase, the finance ministry said Wednesday. Car shipments surged 117 percent, while electronic machinery exports climbed 46 percent. General machinery rose 31.5 percent. The figures confirm that government stimulus efforts around the globe have helped spur demand for Japanese products and are underpinning the country's recovery. But it is Asia in particular that is driving the world's second-biggest economy, which now sends more than half its exports to the rest of the booming continent. Asia-bound exports jumped 56 percent from a year earlier to 2.78 trillion yen ($30.7 billion), according to the Ministry of Finance's monthly report. The figure reflects an expected slowdown from January, when shipments soared 68 percent. The Lunar New Year holidays fell in February this year, effectively trimming one business week from the month. Shipments to China, Japan's single biggest trading partner, rose nearly 48 percent. The data also showed encouraging numbers from the U.S., Japan's second biggest overseas market. Although exports to the U.S. had been lackluster, they shot up 50 percent to 837 billion yen ($9.3 billion). Car shipments more than doubled, and electrical machinery exports rose 38 percent. The U.S. outlook is unclear, however, as Toyota Motor Corp. faces ongoing questions about its quality and credibility following a series of massive recalls. "This export recovery was a long time in coming, but with auto recalls in the U.S. still a concern, we will be watching whether this recovery momentum can be sustained," said Yuriko Tanaka, an economist at Goldman Sachs in Tokyo. Also clouding Japan's prospects is a stagnant economy at home, despite the export recovery. The country remains threatened by deflation, a strong yen and weak demand after emerging last year from its worst recession since World War II. Exports to Western Europe were up 20 percent, and those to the Middle East rose 19 percent. Imports climbed 29.5 percent to 4.48 trillion yen, resulting in a trade surplus of 651 billion yen. Recommend Send IM Story Print Related Articles India cbank:demand-side pressures can build up Reuters - 47 minutes ago Japan coalition party wants Y11 trn in fresh stimulus Reuters - 48 minutes ago Euro struggles at 10 month lows, Greece drags Reuters - 51 minutes ago Nikkei falls back from 2-mth high, Nintendo surges Reuters - 52 minutes ago GLOBAL MARKETS-Euro struggles at 10 month lows, Greece drags Reuters - 52 minutes ago News Search Top Stories From art, to souls, Swiss collector switches sights Climate catastrophe ushered in the dinosaurs:study Eurozone moves towards IMF-led aid deal for Greece California seeks to suspend Jackson doctor's license 'Rare' fossil of new dinosaur species found in US More Top Stories » ADVERTISEMENT Most Popular Most Viewed Most Recommended Last Supper is growing by Biblical proportions With health vote, Obama claims a new place in history Auschwitz attic trove names 'Angel of Death': historian UN body rejects protection for shark species Boeing, Airbus claim victory over WTO ruling More Most Viewed » 'Rare' fossil of new dinosaur species found in US 'Britain's Fritzl' raped daughters for over 25yrs Researchers back cancer-fighting properties of papaya Hollywood stars help prevent suicide after Twitter alert Prince Philip in strip club gaffe More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos World Cup 2010 Copyright © 2010 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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