Japan’s exports grow for a third month as trade deficit sinks to $2.5 billion

Japan’s exports have risen 7.8% in February, as shipments continued to expand in cars and electrical machinery. Government numbers released Thursday show the nation’s trade deficit sank to $2.5 billion, marking the second straight month of a deficit. Imports grew in food, medical products and computers, while declining in autos and power-generating machines. The strength in exports come as good news, coming a day after the Bank of Japan raised a key interest rate for the first time in 17 years, no longer setting it below zero.