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Japanese exports fell 14% in July, imports fell 24. 7%

by:Deyuan      2020-12-23
Affected by the rise in the yen, Japan's exports in July and the biggest drop in seven years.

Japanese exports fell 14% year-on-year, as economists polled by Reuters had predicted. This is exports fell for a 10th straight month. At the same time, imports fell 24. 7%, down 20 than originally expected. 6% is even worse, its biggest decline since 2009.

Japan July trade surplus of 51. $500 million, more than a Reuters survey forecast of 27. $800 million, marking the third month in a surplus.

currency appreciation will usually make domestic exporters feel headache, because the yen erodes profit to import from abroad, at the same time, by contrast, will make the goods more attractive Japanese competitors such as South Korea.

Goldman sachs ( 顿) Japanese company general manager and chief strategist at KathyMatsui said, there is no big surprise. June exports more respectable, so these data have a expected in the back. Important trade account surplus, still so often project still maintain large surplus, this is one of the reasons for the yen remains strong.

however, more than expected decline in imports was surprising. Capital economics, CapitalEconomics) Japan, senior economist at MarcelThieliant points out, dragged down by the low cost energy to import prices began to gradually disappear.

in monetary terms, import prices fell for ten month. 9%, since December 2014, the smallest decline.

currency strategist is widely expected to yen will restore its weak trend, at the same time, the import and export of Japan will soon pick up.

but Thieliant said, with weak external demand, the volume is unlikely to be a strong rebound.
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