Japan's exports fall 36.5% as rebound loses steam
By Tomoko A. Hosaka |
August 27, 2009, Thursday
|
Print Edition
Print Edition
JAPAN'S exports fell 36.5 percent in July from a year earlier as an emerging rebound in global demand lost steam, the government said yesterday.
In June, shipments from Japan posted their smallest decline in six months, helping drive the world's second-biggest economy out of a year-long recession in the April-June quarter.
But the latest figure, steeper than June's 35.7 percent fall, suggests that Japan's recovery may be fleeting without stronger overseas appetite for the country's cars and gadgets.
Exports have retreated every month since October and totaled 4.84 trillion yen (US$51.4 billion) in July, according to the finance ministry's report. Imports plunged 40.8 percent to 4.46 trillion yen.
As a result, Japan posted a trade surplus of 380.2 billion yen.
Asia-bound shipments fell 29.9 percent, while those to China alone declined 26.5 percent, the ministry said.
The export slump to the United States worsened, down 39.5 percent from a 37.6 percent on-year decline in June. The overall value of US-bound motor vehicle exports tumbled 40.8 percent, while that of electric machinery was down 41.7 percent. Japan's exports to the European Union recorded a steeper 45.8 percent decrease.
In June, shipments from Japan posted their smallest decline in six months, helping drive the world's second-biggest economy out of a year-long recession in the April-June quarter.
But the latest figure, steeper than June's 35.7 percent fall, suggests that Japan's recovery may be fleeting without stronger overseas appetite for the country's cars and gadgets.
Exports have retreated every month since October and totaled 4.84 trillion yen (US$51.4 billion) in July, according to the finance ministry's report. Imports plunged 40.8 percent to 4.46 trillion yen.
As a result, Japan posted a trade surplus of 380.2 billion yen.
Asia-bound shipments fell 29.9 percent, while those to China alone declined 26.5 percent, the ministry said.
The export slump to the United States worsened, down 39.5 percent from a 37.6 percent on-year decline in June. The overall value of US-bound motor vehicle exports tumbled 40.8 percent, while that of electric machinery was down 41.7 percent. Japan's exports to the European Union recorded a steeper 45.8 percent decrease.
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