Japan fell back into a trade deficit in May for the first time since January, since exports continued to decline while imports declined, according to the country’s finance ministry.
Japanese exports fell for all major regions, including the country’s largest trading partner China, which showed a slowdown in the economy. Even a stronger yen pushes exports, which in May fell by 11.3 percent compared with a year earlier.
Analysts had, according to Reuters had expected a fall of 10.4 percent. In April, exports fell by 10.1 percent compared with a year before, and with majsiffrorna exports have now fallen for eight consecutive months.
Imports fell 13.8 percent for the 17th month in a row, in line with expectations.