Japan posted its first trade surplus in six years in fiscal 2016, standing at ¥4.01 trillion, as the value of imports fell sharply amid persisting low oil prices, government data showed Thursday.
It was the first annual surplus on a fiscal year basis since the March 2011 Fukushima nuclear disaster, which prompted Japan to import more fossil fuels as its nuclear power plants were taken offline amid heightened safety concerns. But lower energy prices have helped take pressure off Japan's trade balance.
Imports for the year to March 31 tumbled 10.2 percent from a year earlier to ¥67.52 trillion, for the third consecutive year of decline, as crude oil and liquefied natural gas imports continued to slide. Exports dropped 3.5 percent to ¥71.52 trillion, reflecting decreased shipments of cars and steel.