Japanese exports fall more than expected

| August 18, 2011 | 0 Comments
”Japanese

Official figures today revealed Japan’s exports fell more than expected last month resulting in the country’s second consecutive month of trade surplus.

According to the Ministry of Finance, exports were 3.3% lower on an annual basis in July – the fifth consecutive monthly fall – and lower than forecasts of a 2.4% fall.

The figures suggest the strong yen continues to hurt Japan’s manufacturers, while the economy continues its recovery from the devastating earthquake and tsunami which struck in March.

Meanwhile, imports rose 9.9% on an annual basis in July – again less than forecasts.

As a result, the trade surplus widened to 72.5 billion yen (£572 million) in July – analysts had expected a surplus of 70.1 billion yen.

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