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Japan’s Export Growth Slows to Less than 1%
Japan’s exports totaled 6.42 trillion yen ($53 billion) in September from 6.38 trillion yen in the same month last year, according to government data.
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Japan’s exports totaled 6.42 trillion yen ($53 billion) in September from 6.38 trillion yen in the same month last year, according to government data.
Shipments to China declined nearly 4% to 1.1 trillion yen ($9.2 billion). But exports to the U.S. surged 10% to 1.3 trillion yen ($10 billion). The swing made America Japan’s largest export market again, if only temporarily.
Japan’s trade deficit in September shrank to 115 billion yen ($955 million) from 569 billion yen in August, thanks mainly to a 36% drop in the price of imported oil, gas and coal.
The Associated Press reports that economic data, including a survey of manufacturers, suggests export volumes will continue to slip for several months.
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