TOKYO - Amid weak demand from China and other Asian countries, Japan's exports last month rose less than expected.
Exports of goods increased by 0.6 percent compared with a year earlier, which in monetary terms is 6,417 trillion yen, it said in a statement the Ministry of Finance. Export Japan demonstrates the growth of the 13th month in a row. Economists polled by Wall Street Journal, had forecast an increase of 3.4 percent. Despite the weakness of the yen against the dollar, which usually plays into the hands of exports, is the lowest increase in the last 13 years.
The slowdown in China's economic growth has left a footprint on the world economy, affecting manufacturers of export-dependent Asian countries like Japan, South Korea, Malaysia and Vietnam. Japanese industrial production fell in July and August, causing fears of a second recession.
Exports to China - the second-largest export market for the country - fell by 3.5 percent last month after falling 4.6 percent in August. Exports to Asia as a whole was also down by 0.9 percent - the first decline in the past seven months.
Total exports declined by 3.9 per cent, which is the third monthly decline. Japanese imports fell by 11.1 percent to 6,532 trillion yen - the ninth consecutive decline and the largest since March of this year, when the figure fell by 14.4 percent.
Japan's trade deficit amounted to 114.5 billion yen, compared with 961.98 billion yen a year earlier. Economists surveyed by Nikkei and the Wall Street Journal, had forecast a surplus of 100.00 billion yen.
According to the materials Weltrade