Japan’s May exports fell 2.7 percent from a year earlier, tumbling for the first time in 15 months, data on Wednesday showed. The fall compared with a 5.1 percent jump the previous month and analyst expectations in a Reuters poll for a 1.2 percent decline.
Imports meanwhile fell 3.6 percent on-year, compared with expectations for a 1.7 percent rise. This brought Japan’s trade balance to a deficit of 909 billion yen ($8.9 billion) in May.
“If we look at the imports of consumer goods and isolate that from resource prices, of course there might have been a connection there,” said Europacifica Consulting CEO Naomi Fink, talking about the reasons behind the decline in imports.
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