AFP, TOKYO: Japan’s trade surplus fell sharply in November, the government said yesterday, as the rising cost of oil and smartphone imports outweighed strong exports of cars and steel.

The world’s third-largest economy logged a surplus of 113.4 billion yen ($1.0 billion), a 22-per cent drop from a 146.5-billion-yen surplus a year earlier, according to finance ministry data.

Exports rose for the 12th consecutive month on sound exports of chip-making equipment, cars and steel.

But imports also grew for a 11th straight month, chiefly due to a rise in imports of smartphone handsets, crude oil and non-ferrous metals.

The ministry said the yen was on average 8.2 per cent cheaper against the US dollar in November compared to the same month a year earlier, making Japan’s imports costlier.

Japan’s politically sensitive trade surplus with the United States rose 13.7 per cent on increased exports of automobiles and construction machines.