Japan exports fall 19.2% in July for 5th month of double-digit declines

TOKYO (REUTERS) – Japan’s exports fell 19.2 per cent in July from a year earlier, posting a fifth straight month of double-digit declines, Ministry of Finance data showed on Wednesday (Aug 19), highlighting the pain the coronavirus pandemic has inflicted on global demand.

The fall compared with economists’ median forecast for a 21.0 per cent decrease in a Reuters poll. It followed a 26.2 per cent fall in the previous month.

Imports fell 22.3 per cent in the year to July, versus the median estimate for a 22.8 per cent decrease.

As a result, the trade balance came to a surplus of 11.6 billion yen (S$150.3 million), versus the median estimate of a 77.6 billion yen deficit.

Read the latest on the Covid-19 situation in Singapore and beyond on our dedicated site here.

Get The Straits Times app and receive breaking news alerts and more. Download from the Apple App Store or Google Play Store now.

Source: Read Full Article