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Japan's exports tumble 36 per cent in August, down 11th consecutive month
Wed Sep 23, 10:48 PM
The Associated Press
TOKYO - Japan's exports, a key economic driver, tumbled 36 per cent in August, dragged down by slumping global demand for cars and steel products, the finance ministry said Thursday.
Exports came at 4.5 trillion yen (US$49 billion) in the month, marking the 11th consecutive year-on-year decline. Imports in August plunged 41.3 per cent from a year earlier to 4.3 trillion yen, resulting in a trade surplus of 190 billion yen.
"Japan's exports to key regions, including the United States and Asia, were all down sharply due to sluggish demand. In particular, auto exports nose-dived in the month, pressuring overall exports," said finance ministry official Keisuke Kawanishi.
Japan's auto exports in August plunged a staggering 50 per cent, while shipments of steel products dropped 43.3 per cent, the ministry said. Exports of light oil products fell 59.9 per cent due to faltering demand in China and Vietnam, it said.
Japan's US-bound shipments declined 34.4 per cent to 713.1 billion yen, marking the 24th straight year-on-year fall. Among exported goods to the U.S., metal exports nose-dived 82.2 per cent in the month.
Exports to Asia also tumbled 30.6 per cent to 2.6 trillion yen. Japan's exports to China were down 27.6 per cent.
Japan's exports to the European Union dropped 45.9 per cent to 514.3 billion yen, down for the 13th consecutive year-on-year fall.
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If China is doing so great, why are they importing 27% less from Japan?
Japan's exports tumble 36 per cent in August, down 11th consecutive month
Wed Sep 23, 10:48 PM
The Associated Press
TOKYO - Japan's exports, a key economic driver, tumbled 36 per cent in August, dragged down by slumping global demand for cars and steel products, the finance ministry said Thursday.
Exports came at 4.5 trillion yen (US$49 billion) in the month, marking the 11th consecutive year-on-year decline. Imports in August plunged 41.3 per cent from a year earlier to 4.3 trillion yen, resulting in a trade surplus of 190 billion yen.
"Japan's exports to key regions, including the United States and Asia, were all down sharply due to sluggish demand. In particular, auto exports nose-dived in the month, pressuring overall exports," said finance ministry official Keisuke Kawanishi.
Japan's auto exports in August plunged a staggering 50 per cent, while shipments of steel products dropped 43.3 per cent, the ministry said. Exports of light oil products fell 59.9 per cent due to faltering demand in China and Vietnam, it said.
Japan's US-bound shipments declined 34.4 per cent to 713.1 billion yen, marking the 24th straight year-on-year fall. Among exported goods to the U.S., metal exports nose-dived 82.2 per cent in the month.
Exports to Asia also tumbled 30.6 per cent to 2.6 trillion yen. Japan's exports to China were down 27.6 per cent.
Japan's exports to the European Union dropped 45.9 per cent to 514.3 billion yen, down for the 13th consecutive year-on-year fall.
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If China is doing so great, why are they importing 27% less from Japan?