MNI DATA IMPACT: Japan Aug Exports -8.2%, Imports -12.0% y/y

     TOKYO (MNI) - Japan's exports and imports both dipped further in August on

weak external and domestic demand, data released Wednesday by the Ministry of

Finance showed.

     The key points from the data:

     --Japan's exports fell 8.2% y/y in August, accelerating from the previous

1.2% y/y drop, marking the 9th straight monthly fall. The decrease was less than

MNI's median of economist forecasts which projected an 11.1% y/y drop.

     --Imports plunged 12.0% y/y in August, sharply down from -1.2% y/y in July.

MNI's survey has forecasted the median of -11.4% y/y. 

     --With imports outpacing exports in value terms, August's trade balance

showed a deficit of Y136.3 billion, following last month's Y249.6 deficit. The

balance wasvsmaller than the MNI median deficit expectation of Y370.2 billion.

     --Exports to the European Union, the US and China all reported falls in

August, by 1.3% y/y, 4.4% y/y and 12.1% y/y respectively. That compared to +2.2%

y/y, +8.4% y/y and -9.3% y/y.  

     --Imports from above top partners tumbled as well -- 8.5% y/y less

purchased from China and 9.2% y/y less from the US, compared with 2.8%y/y and

3.5% y/y gain last month. Imports from the EU continued dropping -- down by 2.3%

following last month's 4.3% fall.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI London Bureau; tel: +44 203-586-2225; email: les.commons@marketnews.com

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