TOKYO, March 18 — Japanese exports declined for the third straight month in February while imports also fell, according to government data today, indicating a possible slowdown in the world’s third biggest economy.
Exports slipped 1.2 per cent from a year earlier to ¥6.38 trillion (RM233.4 billion) and imports declined even more sharply — by 6.7 per cent to ¥6.05 trillion.
“Concerns remain for the immediate future given worries over the global economy and weak demand in the IT sector,” Asuka Sakamoto, economist at Mizuho Research Institute, told AFP.
The weak import figure is also a source of concern as it may reflect declining orders for companies as they reduce production domestically, added Sakamoto.
Analysts will be closely watching export and corporate investment data for further clues on the economy’s health, she said.
Exports to China increased 5.5 per cent while imports dropped 15.8 per cent, as imports declined of clothes, metal products and parts for audio visual products.
Japan’s politically sensitive surplus with the United States slipped 0.9 per cent from a year earlier to ¥624.9 billion.
With the European Union, Japan logged a ¥58.2 billion surplus.
Overall, the country logged a ¥339 billion trade surplus in February, the first surplus for five months. — Bernama
