Japanese exports decline further on virus-beaten demand


Japanese exports had seen another double-digit decline, recording six months of continuous contraction in August. This was mainly from a coronavirus-driven slump monitored in U.S.-bound shipments, raising a dim outlook over a trade-led rebound.

After recording a 19.2% decline in July, total exports dropped 14.8% year-on-year in August. The figure came milder than the 16.1% drop expected by economists in a Reuters survey, official data showed on Wednesday.

U.S.-bound shipments were seen 5.1% lower in August as engine parts and construction machinery demand fell. Meanwhile, China-bound shipments advanced 5.1% year-on-year as shipments in semiconductors increased.

Overall imports declined 20.8%, placing higher than the median outlook for an 18.0% contraction. The decline drove the trade balance up to 248.3 billion yen, surpassing the median estimate for a 37.5 billion yen setback.

The information and recommendations contained in this analytical document are published strictly for information purposes and are not considered as an offer to buy or sell the trading tools mentioned above and are not intended to motivate to perform certain transactions
Something went wrong