TOKYO: Japan’s exports fell 6.9 percent year-over-year in September to 5.97 trillion yen (U.S. $57.3 billion) as manufacturers faced headwinds from the stronger yen. Economists surveyed by the Wall Street Journal projected Japan’s exports in terms of value would decline 10.6 percent, while economists polled by Reuters estimated a 10.4 percent drop. Japan’s imports experienced an even steeper decline than exports, falling 16.3 percent from last September to 5.47 trillion yen, according to data from Japan’s Ministry of Finance.
Overall, Japan experienced a surplus of 498.3 billion yen for the month. The United States and China were Japan’s top nations for exports in terms of value in September, but shipments to both nations declined. During the month, Japan exported 1.17 trillion yen of goods to the U.S. and 993 billion yen of goods to China, year-over-year declines of 8.7 percent and 10.6 percent, respectively.
Japan’s imports from China, its leading nation for imports in terms of value during the month, fell 16.7 percent from September 2015 to 1.54 trillion yen. Imports from the U.S. fell 6.1 percent year-over-year to 580.4 billion yen. Japan’s exports to Brazil, which has been in an economic recession, tumbled 42.2 percent year-over-year to 23.7 billion yen, while imports from the South American nation fell 28.8 percent year-over-year to 52.1 billion yen.
