Japan's September exports fall 10.3% year on year
TOKYO (REUTERS) - Japan's exports fell 10.3 per cent in September from a year earlier, down for the fourth straight month, Ministry of Finance data showed on Monday, suggesting anti-Japanese sentiment in China over a territorial spat was adding to a slump in shipments.
The fall in exports, a key driver of the world's third-biggest economy, was bigger than economists' median forecast for a 9.6 per cent drop and followed a 5.8 per cent annual fall in August, the data showed.
Exports to China, the top destination for Japanese shipments, fell 14.1 per cent in the year to September. Exports to Europe fell 21.1 per cent, the data showed.
The trade balance came to a deficit of 558.6 billion yen (S$8.6 billion) in September, against a 570.1 billion yen deficit projected by economists. It was the third straight month of deficits.