Japan’s exports in August decreased by 0.1% compared to the same month last year, according to the report of the country’s Ministry of Finance. The decline in exports was the fourth consecutive month of decline, but its pace was the weakest in the period. The volume of Japanese imports last month fell by 5.2% year-on-year.
Experts on average predicted a decrease in exports in August by 1.9% and a decrease in imports by 4.2%.
Japan’s trade deficit last month amounted to 242.5 billion yen ($1.66 billion) compared to 711.4 billion yen a year earlier. A deficit of 118.4 billion yen was recorded in July.
Exports to the U.S. fell 13.8% in August amid the imposition of U.S. duties on automobiles and microprocessors. Shipments to China fell by 0.5% and to ASEAN countries by 2.8%, while exports to the European Union rose by 5.5% and to Russia by 11.8%.
Imports from the US jumped by 11.6% and from China by 2.1%. At the same time, purchases of goods from South Korea fell 16.3%, from the EU 18.2%, from Russia 21.1%, from the Middle East 20.3%, and from ASEAN 4.6%.
