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TOKYO (MNI) - Japan's exports and imports both saw declines decelerate in
July, data released Monday by the Ministry of Finance showed.
The key points from the data:
--Japan's exports fell 1.6% y/y in July, much improved from a previous 6.7%
y/y fall, although still marking the eighth straight monthly fall. The decrease
met MNI's median of economist forecasts which also projected 1.6% y/y drop.
--Imports dropped 1.2% y/y in July, edging up from the 5.2% y/y drop
recorded in June. MNI's survey has forecasted the median of -0.6% y/y.
--With imports outpacing exports in value terms, July's trade balance
showed a deficit of Y249.6 billion, compared with the Y589.5 surplus reported in
June. The balance came in larger the MNI median deficit expectation of Y220.0
--Exports to the European Union and the US increased 2.2% and 8.4%
respectively, compared with last month's -6.7% and 4.8%. Exports to China fell
9.3% y/y, following the 10.1% plunge in June.
--Imports from both China and the US bounced back by 2.8% and 3.5%
respectively, compared with the decrease of 5.3% and 2.5% last month. Imports
from the EU dipped further -- down by 4.3% from June's 3.7% fall.
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