Japan's trade surplus rose in January from a year ago as low oil prices continued to keep down import costs, the Finance Ministry reported today.

The main danger now is that the gain in competitiveness will be eroded by inflation partly triggered by the rise in import costs.

A strong dollar also reduces the risk that rising import costs will accelerate inflation, which causes fixed-income securities to lose value.

Indeed, if monetary relaxation succeeds in stabilising output, it should unlock sharp productivity gains which could finance higher import costs.

Other experts said they believed the import cost is much higher.

The Gamble family started lime and alkali pits, fulfilling the need of the glass industry and saving on import costs.

A further consideration: we have agreements on minimum import costs, for instance with Israel; otherwise duties are levied.

It also has one of the very best wine lists on the island, reasonably priced considering the usual high import costs.

He also determined the actual import cost to produce a box of bananas.

Part of the upward pressure on prices has been caused by sterling's weakness, which has led to higher import costs.