Japan’s exports fall as yen gains, rising volume eases some concerns
Tokyo — Japan’s exports fell for a 12th straight month in September from a year earlier, official data showed, as the yen’s gains undermined export prices, but rising shipment volumes pointed to a tentative pick-up in global demand. Ministry of Finance data issued on Monday showed Japan’s exports fell 6.9% in September from a year earlier, following a 9.6% decline in August, dragged down by US-bound shipments of cars, China-bound shipments of electronics parts and exports of steel. The result is a little less gloomy than the median forecast in a Reuters poll of economists for a 10.4% fall as the yen’s 16% gains versus the dollar from a year earlier hurt the value of exports. In terms of volume, exports rose 4.7% in the year to September, the fastest gain in nearly two years and rising for a second straight month, the data showed. "It’s a positive sign that export volume grew after having been more or less flat until recently," said Hidenobu Tokuda, senior economist at Mizuho Researc...
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