Japanese exports fall in September, first decline since 2016
Japanese exports fall in September, first decline since 2016
Japan registered a trade surplus for September of 139.6 billion yen ($ 1.2 billion), but exports fell 1.2 percent from the previous year in the first fall for the world's third largest economy since 2016
A series of natural disasters had a negative effect, but the delay in exports also reflects uncertainties about trade tensions after the president Donald Trump Imposed tariffs on Chinese exports worth billions of dollars. A weaker trade between the United States and China in general harms exporters JapanThat economy
Imports rose 7 percent, according to data released Thursday by the Ministry of Finance.
During the month, one of the main earthquake hit the northernmost island of Hokkaido, causing fatal landslides and widespread blackouts, while a typhoon hit the western Kansai area and temporarily closed a major airport.
Those events followed the deadly floods in southwestern Japan and an earthquake in Osaka earlier this year.
The last time that exports of Japan fell in the year was in November 2016, when they fell 0.4 percent, according to the data.
During the six months to September, the first fiscal semester, exports grew by 5.2 percent, while imports increased by 10 percent.
Junichi Makino, SMBC analyst Nikko Securities, said a factor behind the figures was the recent rise in oil prices, which increases the value of Japan's imports. Japan imports almost all its oil. But Makino said that the volume of world trade remained broadly despite the trade war between China and the USA
The Trump government intends to seek commercial agreements with the European Union and Great Britain, as well as with Japan. The administration recently reached an agreement with Canada and Mexico to modernize the North American Free Trade Agreement.
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