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Japanese Exports Decline for 11th Month

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Japan’s poor exports performance continued in August; shipments fell for an 11th consecutive month as a strong yen and tepid global economy reduced demand.

Exports dropped 9.6 percent in August from a year earlier, the Ministry of Finance said last week. The median estimate of economists surveyed by Bloomberg pointed to a 4.7 percent decline in exports. Imports fell by 17.3 percent, resulting in a trade deficit of 18.7 billion yen.

Exports to the U.S. fell 14.5 percent from a year earlier.
Exports to the EU fell 0.7 percent.
Exports to China, Japan’s largest trading partner, slid 8.9 percent.
Export numbers often fall in August as more workers go on holiday and factories close for the Bon holiday, according to the Ministry of Finance.