Ja­panese ex­ports fall 10% in Oc­to­ber, 13th monthly drop in a row

The Sun (Malaysia) - - SUNBIZ -

TOKYO: Ja­pan’s ex­ports to the United States fell sharply in Oc­to­ber, con­tribut­ing to a con­sid­er­able drop in over­all ship­ments, the gov­ern­ment said yes­ter­day.

Ja­pan’s over­all ex­ports de­clined 10.3% year-on-year to ¥5.87 tril­lion yen (RM233.5 bil­lion) in Oc­to­ber for the 13th straight month of fall, the Fi­nance Min­istry in Tokyo said in a pre­lim­i­nary re­port.

Ex­ports to the United States, Ja­pan’s sec­ond-largest trad­ing part­ner, dropped 11.2% from a year ear­lier to nearly ¥1.2 tril­lion with ve­hi­cle ship­ments down 2.7% and steel ex­ports drop­ping by 40.2%, the min­istry said.

Ship­ments to China, Ja­pan’s biggest trad­ing part­ner, de­clined 9.2% to ¥1.07 tril­lion. Ja­pan’s im­ports also dipped, drop­ping 16.5% to ¥5.37 tril­lion, mainly due to weak do­mes­tic con­sump­tion and fall­ing global en­ergy prices. The drop in im­ports meant Ja­pan ran a trade sur­plus in Oc­to­ber of ¥496.2 bil­lion. – dpa

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