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Japan exports fall for first time since 2016
Declining shipments to the US and China are to blame.
CNBC reported that Japanese exports fell 1.2% in September compared to last year, a first for the country since November 2016.
Japan’s Ministry of Finance (MOF) released the data highlighting the decrease against an expected 1.9% increase by economists in a Reuters poll.
The country’s exports of construction and mining machinery, auto parts and medicines to US fell by 0.2% YTD. Meanwhile, exports to China, Japan’s biggest trading partner, slid 1.7%.
Shipments to Asia, which make up more than half of Japan’s overall exports, rose 0.9%.
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