Japanese exports to all markets posted sharp declines, some of them the worst since the December 2001 numbers that came out after the dotcom bust.
Exports to the US fell 19 per cent to US$12.7 billion over 14 months to October, the fifth double-digit monthly drop, according to Japan's Finance Ministry statistics.
Japan's trade surplus with the US fell 27.5 per cent to $5.4 billion as imports from America also fell 11.1 per cent to $7.3 billion for the first time in three months. Exports also fell 7.7 per cent to $72.6 billion for the first time in four months in October providing the biggest decline since a 14.5 per cent fall in December 2001.
Exports to the Asia region also decreased for the first time since early 2002, reported Newark's Journal of Commerce. Imports grew for the 13th month in a row in October, by 7.4 per cent from a year earlier to $73.3 billion. But import growth fell to single digits for the first time in five months, reflecting a fall in oil prices.
Exports to the EU also fell 17.2 per cent to $9.9 billion in October, their biggest fall since December 2001. Exports to the rest of Asia, including China, also dropped in October for the first time since February 2002, by 4 per cent to $35.5 billion. Exports to China declined for the first time since May 2005, dipping 0.9 per cent to $12.2 billion.
Exports to the US fell 19 per cent to US$12.7 billion over 14 months to October, the fifth double-digit monthly drop, according to Japan's Finance Ministry statistics.
Japan's trade surplus with the US fell 27.5 per cent to $5.4 billion as imports from America also fell 11.1 per cent to $7.3 billion for the first time in three months. Exports also fell 7.7 per cent to $72.6 billion for the first time in four months in October providing the biggest decline since a 14.5 per cent fall in December 2001.
Exports to the Asia region also decreased for the first time since early 2002, reported Newark's Journal of Commerce. Imports grew for the 13th month in a row in October, by 7.4 per cent from a year earlier to $73.3 billion. But import growth fell to single digits for the first time in five months, reflecting a fall in oil prices.
Exports to the EU also fell 17.2 per cent to $9.9 billion in October, their biggest fall since December 2001. Exports to the rest of Asia, including China, also dropped in October for the first time since February 2002, by 4 per cent to $35.5 billion. Exports to China declined for the first time since May 2005, dipping 0.9 per cent to $12.2 billion.