Trade statistics show Japanese export keeps to lose momentum

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According to provisional trade statistics released by the Ministry of Finance on December 18, exports in November fell 7.9% year-on-year to 6,382 million yen for the 12th consecutive decline. 

 The continuing sluggishness in export of cars to the US and construction equipment to Europe has influenced. 

 Imports also decreased by 15.7% to 6,464.2 million yen, the seventh consecutive decline. 

 The weakening domestic demand dragged by the consumption tax hike in October also seems to be reflected in the statistics. 

 The trade balance, which is the difference between exports and imports, was minus 82.1 billion yen, the first deficit in two months. 

 There may be a silver lining in the information technologies as semiconductor manufacturing equipment seems to be bottoming out, but the Japanese economy is said likely to fall into negative growth due to a drop in personal consumption after the tax hike. 

 For the time being, Japan’s economy needs to continue to face a number of concerns, including slow export, weak consumption, boycott of Japanese products against a backdrop of deteriorating Japan-Korea relations.

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