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