Japan trade surplus falls 30.2 percent

TOKYO, Japan (AP) -- Japan's trade surplus in March shrank 30.2 percent from a year earlier, amid signs of slowing exports that could pull down the overall economy, the Finance Ministry said Wednesday.

The surplus fell to 1.119 trillion yen ($10.82 billion; €6.79 billion), largely due to surging imports of oil and natural gas that offset an increase in automobile, ship and steel exports, the ministry said. The fall was bigger than the 15.3 percent decline estimated by economists surveyed by Dow Jones and Nikkei.

Overall imports rose 11.1 percent to 6.566 trillion yen ($63.50 billion; €39.86 billion) in March, while exports grew 2.3 percent to 7.684 trillion yen ($74.31 billion; €46.64 billion).

Japan's trade surplus for the fiscal 2007 grew 13.4 percent to 10.224 trillion ($98.88 billion; €62.07 billion) from the previous fiscal year, rising for the second straight year, the ministry said.

In March, the nation's politically sensitive trade surplus with the U.S. fell 17.0 percent, marking the seventh straight month of decline, largely due to declining exports of autos, auto parts and motorcycles.

The trade surplus with Asia, including China, fell 14.4 percent, falling for the first time in eight months due to a sharp increase in oil imports, the ministry said. E-mail to a friend

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