Japan’s exports drop for seventh month in a row

Tokyo: Japan’s exports declined 6.7 per cent year-on-year to 6.6 trillion yen ($61 billion) in June for the seventh straight month of falls, the government said on Thursday, as a slowing Chinese economy continued to hurt Japanese exporters.
Exports to China, Japan’s biggest trading partner, dropped 10.1 per cent from a year earlier to 1.2 trillion yen, while imports fell 5.3 per cent to 1.4 trillion yen, the Finance Ministry said in a preliminary report. China’s economy grew 6.2 per cent in the second quarter of the year, the slowest pace since the government began publishing the data in 1992, Beijing said on Monday. Meanwhile, Japan’s overall imports declined 5.2 per cent to 6 trillion yen, which resulted in a trade surplus of 589.5 billion yen for the first black in two months, the ministry said. Japan posted a trade surplus with the United States of 669.9 billion yen, up 13.5 per cent from a year earlier, as its shipments grew 4.8 per cent to 1.36 trillion yen with imports down 2.5 per cent to 685.6 billion yen. — dpa