Tuesday, May 22, 2012

Japan exports rise less-than-forecast in April

Japanese factory

Japan's exports rose less-than-forecast in April hurt by a drop in shipments to China and Western Europe.

Exports rose by 7.9% from a year earlier. Most analysts had forecast growth of close to 12%.

Shipments to China, Japan's biggest trading partner and Western Europe, one of its key markets, fell by more than 7%.

Analysts said the eurozone debt crisis coupled with a slowdown in China may hurt Japan's exports going forward.

"As exports to China remain weak, the possibility of a prolonged slump in China's economy is a source of worry for Japan's economy," said Yuichi Kodama an economist with Meiji Yasuda Life Insurance.

"Looking ahead, whether Japan's exports steadily recover or not will depend on developments in Europe's debt crisis."



Source & Image : BBC

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