"Japan's economy will likely return to growth this quarter and maintain a good pace of growth in the following quarters"
- Kohei Okazaki, an economist at Nomura Securities Co.
Japan posted first trade surplus in five months in February, adding to evidence the economy is growing. The surplus stood at 32.9 billion yen (302 million euros), the Ministry of Finance said.
Today's figures indicate that "a recovery in exports will likely be sustainable," said Kohei Okazaki, an economist at Nomura Securities Co. in Tokyo. "Japan's economy will likely return to growth this quarter and maintain a good pace of growth in the following quarters."
"Japan's economy should be able to recover as overseas economies stabilize and as we rebuild from the earthquake. Export competitiveness is improving, so this takes some pressure off the central bank," said Shuji Tonouchi, senior fixed income strategist at Mitsubishi UFJ Morgan Stanley Securities.
"Still, we're likely to see trade deficits in the future as we have to import more energy due to the declining use of nuclear power."
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