Japan’s exports declined the most since 2009, with shipments down for a 10th consecutive month. The continued drop highlights the difficulty of kick-starting growth and pulling Japan’s economy out of the doldrums.
Key Points
Overseas shipments fell 14 percent in July from a year earlier, the Ministry of Finance said on Thursday. The median estimate of economists surveyed by Bloomberg indicated a 13.7 percent decline. Imports dropped 24.7 percent, leaving a trade surplus of 513.5 billion yen ($5.2 billion). Big Picture
Weak exports have been a drag on Japan’s growth, with net exports cutting 0.3 percentage point off gross domestic product growth in the second quarter.
This post was published at David Stockmans Contra Corner By Connor Cislo via Bloomberg Business ‘ August 18, 2016.
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