Japan Posts First Trade Surplus in 6 Years

Japan posted a trade surplus in 2016, its first in six years, as lower oil prices pulled imports lower, the Finance Ministry said Wednesday. 
Officials at the ministry said last year's trade surplus was more than 35 billion dollars. They say lower crude-oil prices reduced the cost of energy imports, Japan's broadcaster (NHK World) reported. 
The officials said exports fell 7.4% in yen terms, down for the first time in 4 years. That's mainly due to the yen's appreciation and a decline in shipments of steel products to South Korea and Taiwan. 
But they said imports fell nearly 16% as the prices of imported crude oil and liquefied natural gas plunged. 
Japan had posted trade deficits during the previous years, as domestic firms set up production bases abroad. 
Other factors include a weaker yen as well as the 2011 earthquake and tsunami, which boosted the cost of energy imports.