Japan trade gap smallest in months

Japan's trade deficit narrowed in February to 800bn yen ($7.9bn) - the lowest level in nine months. Exports increased by 9.8% and imports showed a sharp slowdown, with a 9% increase in February. In January the trade gap surged to a record high after imports increased 25%. Imports had been increasing ahead of a planned tax increase planned for April, as Japanese stocked up on foreign goods. The Chinese Lunar New Year, which had led to a temporary slowdown in foreign buying, also contributed to the large January figure, according to BBC.