Japan exports fall most since 2009 as global slowdown bites

Japan’s annual exports in January fell the most since the global financial crisis as demand weakened in China and other major markets, leaving policy makers battling to revive a fragile economy after a fourth-quarter contraction.

Exports fell 12.9 percent year-on-year in January in their fourth straight month of declines, Ministry of Finance data showed on Thursday, led by a slump in shipments of steel and oil products as Japan and much of the rest of Asia were put to the sword by feeble external demand.

It was the biggest drop since October 2009 when the global financial crisis knocked demand across the world. The volume of shipments fell 9.1 percent year-on-year in January, down for seven months in a row and the worst slide in three years.

Reuters

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Craig Erlam
Based in London, England, Craig Erlam joined OANDA in 2015 as a Market Analyst. With more than five years' experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while conducting macroeconomic commentary. He has been published by The Financial Times, Reuters, the BBC and The Telegraph, and he also appears regularly as a guest commentator on Bloomberg TV, CNBC, FOX Business and BNN. Craig holds a full membership to the Society of Technical Analysts and he is recognized as a Certified Financial Technician by the International Federation of Technical Analysts.