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Japan's September Exports Mark 12th Straight Decline

  • Monday, 24 October 2016 03:00

Japan's adjusted trade balance surplus for September reached ¥350 billion, wider than the surplus of ¥200 billion seen, even as exports fell 6.9%, less than the 10.4% year-on-year fall expected but still the 12th straight drop, and imports dropped 16.3%, also less than the 16.6% fall seen and the 21st straight decline.

At the same time, Japan's unadjusted September trade balance came in at a surplus of ¥498.3 billion, the first time in the green in two months following a deficit of ¥19.2 billion in August and compared with a deficit of ¥121.3 billion in September 2015.

Both the government and the Bank of Japan see exports largely flat for now in light of slower global growth and the yen's relative strength with exports to Asia down 8.4% on year in September, the 13th straight drop; slipping 10.6% to China and falling 8.7% to the U.S., both marking the seventh straight drop, but edging up 0.7% to the European Union for the first gain in five months.

 APMEN Business News, Oct 2016

 

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