Friday 12 August 2016

Japan exports seen down in July on lacklustre global demand, strong yen

Japan's exports are expected to have fallen for a 10th straight month in July on lacklustre global demand and a strong yen, a Reuters poll showed on Friday.

Exports likely declined 14% in July from a year earlier, accelerating from 7.4% fall in June, the poll of 19 analysts found.

Imports were seen falling 20.6% from a year ago, which would result in a trade surplus of 283.7 billion yen (US$2.78 billion). That would be a second straight monthly trade surplus.

"Worries about the worsening global economy have subsided but it remains in a situation of low growth," said Takeshi Minami, chief economist at Norinchukin Research Institute. "Pressure on the yen to appreciate remains strong and oil prices have started picking up since early this year, so there is a low likelihood the trade surplus will expand going forward."

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