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.
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