The Kyushu economic zone’s trade deficit in February was the smallest for this fiscal year due to falling crude oil prices. Record-high exports of automobiles to the EU and Taiwan resulted in an 8.2% increase in exports compared to the previous year. However, imports were also at a record high, up 22.2% from the previous year, due to the impact of a 1.7-fold increase in coal prices despite a decrease in quantity. As a result, the trade balance showed a deficit of 33.1 billion yen, marking the 11th consecutive month of deficit. Nonetheless, the import unit price of crude oil has fallen by about 30% compared to the peak in July last year. Moji Customs stated that they will continue to monitor price trends as the outlook remains unclear. Source: NHK
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