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Japanese exports fall 12.9pc in 2015 - biggest loss since 2009 downturn
JAPAN's 2015 exports in January fell the most since the global financial crisis of October 2009 as demand weakened in China and other major markets, Reuters reports.
Exports fell 12.9 per cent year on year in January in their fourth straight month of declines, said the Ministry of Finance.
This was led by a fall in steel and oil products shipments as Japan and the rest of Asia suffered a decline in demand.
Shipment volume fell 9.1 per cent year on year in January, down for seven straight months in the worst slide in three years.
HSBC co-head of Asian economic research Frederic Neumann said global trade suffered a significant deterioration at the start of 2016, blaming China for much of the downturn.
"Slowing growth in the mainland economy is clearly taking its toll. Unfortunately, we see few signs that growth is bottoming out," he said.
Exports fell 12.9 per cent year on year in January in their fourth straight month of declines, said the Ministry of Finance.
This was led by a fall in steel and oil products shipments as Japan and the rest of Asia suffered a decline in demand.
Shipment volume fell 9.1 per cent year on year in January, down for seven straight months in the worst slide in three years.
HSBC co-head of Asian economic research Frederic Neumann said global trade suffered a significant deterioration at the start of 2016, blaming China for much of the downturn.
"Slowing growth in the mainland economy is clearly taking its toll. Unfortunately, we see few signs that growth is bottoming out," he said.
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