ZCZC
BCN-05
JAPAN-ECONOMY-TRADE
Japan’s exports decline for third straight month
TOKYO, March 18, 2019 (BSS/AFP) – Japanese exports declined for the third
straight month in February while imports also fell, according to government
data Monday, indicating a possible slowdown in the world’s third biggest
economy.
Exports slipped 1.2 percent from a year earlier to 6.38 trillion yen ($57
billion) and imports declined even more sharply — by 6.7 percent to 6.05
trillion yen.
“Concerns remain for the immediate future given worries over the global
economy and weak demand in the IT sector,” Asuka Sakamoto, economist at
Mizuho Research Institute, told AFP.
The weak import figure is also a source of concern as it may reflect
declining orders for companies as they reduce production domestically, added
Sakamoto.
Analysts will be closely watching export and corporate investment data for
further clues on the economy’s health, she said.
Exports to China increased 5.5 percent while imports dropped 15.8 percent,
as imports declined of clothes, metal products and parts for audio visual
products.
Japan’s politically sensitive surplus with the United States slipped 0.9
percent from a year earlier to 624.9 billion yen.
With the European Union, Japan logged a 58.2 billion yen surplus.
Overall, the country logged a 339 billion yen trade surplus in February,
the first surplus for five months.
BSS/AFP/HR/0948