Japan's exports drop even more

Japan's exports performed their eleventh consecutive losing streak in August, amid the Japanese yen having strengthened, and the demand weakening the most. The latest indications show that the economy will find difficulties accelerating in the current quarter.

Japan's August exports down 9.6%

As per today's latest MOF data, the exports for the month of August declined 9.6% being heavily influenced by steel and car shipments.

Furthermore, MOF data indicated that the exports to China, Japan's biggest trading collaborator, fell 8.9% for the year to August, performing a fall for the sixth consecutive month.

The shipments to Asia, accounting more than half of Japan's exports, decelerated 9.4%.

During the period April - June, the Japanese economy appreciated 0.7%, on an annualized basis, as capital spending and exports declined.

Moreover, the trade balance shifted to an 18.7 billion yen deficit against the analysts' median estimates for a surplus of 202.3 billion yen.

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