Japanese exports down for 12th straight month

Tokyo, 23 Muharram,1438 AH, 24 October,2016 , SPA – – Japanese exports fell 6.9 per cent from a year earlier to 5.97 trillion yen (57.4 billion dollars) in September for the 12th
consecutive month of decline as the yen soared against the dollar, the government said Monday, dpa reported.
Exports to China, Japan’s biggest trading partner, dropped 10.6 per cent from a year earlier to 993 billion yen, while those to the United States fell 8.7 per cent to 1.17 trillion yen, the Finance Ministry said in a preliminary report.
Shipments to the European Union edged up 0.7 per cent to 687.2 billion yen for the first rise in five months, the ministry said.
The Japanese yen has surged 14 per cent against the dollar since the start of this year. The strong yen makes Japanese exports less competitive overseas and erodes the revenues of the country’s exporters.
Japan’s overall imports fell 16.3 per cent to 5.47 trillion yen in September mainly due to falling global energy prices and sluggish domestic consumption, which resulted in a trade surplus of 498.3 billion yen.
— SPA
11:32 LOCAL TIME 08:32 GMT