Japan’s exports fell for a tenth straight month in July and the annual fall accelerated.
Exports were down 36.5% compared with a year earlier and June’s 35.7% dip, the finance ministry said today.
On a seasonally-adjusted basis, exports dropped 1.3% from June but were up 5.3% before the adjustment.
Exports to China and the US, the two biggest buyers of Japanese goods, were down 26.5% and 39.5% respectively from a year ago.
The yen rose 4.4% against the dollar in July.
As the US economy improves, Japan can expect to see an increase in exports.
Exports to Europe, were down 45.8%.
Japan’s gross domestic product (GDP) grew 0.9% in the second quarter and an annualised 3.7%.
As imports fell, Japan's merchandise trade surplus widened on year for the second straight month in July.
The surplus increased to ¥380.2 billion ($4 billion) from ¥81.9 billion a year earlier, the Ministry of Finance said Wednesday.
Separate data today from the Bank of Japan, showed that Japanese firms are still cautious about a pace of economic recovery in the months ahead.
The corporate service price index, which tracks the overall level of prices that companies pay for services, dropped 3.4% from a year earlier in July, the sharpest on-year drop since the survey was launched in 1985.
