Japan's March export growth slows, annual trade deficit widens to record

TOKYO: Japan's export growth slowed in March, dragged down by a drop in China-bound shipments of cars and steel in a slide that underscores concern about slackening global demand amid higher interest rates and Western banking-sector jitters.

The yen's depreciation by 16.5 per cent from the same month a year earlier also boosted the value of imports, rather than driving up external shipments as Japanese exporters have shifted production overseas during previous periods of yen strength. "Effects of the fully-fledged monetary tightening in the West since last summer will play out in their economies, causing Japan's exports to turn downward going forward."

Thursday's data showed imports rose 7.3 per cent in the year to March, below the median estimate of an 11.4 per cent increase and after the prior month's 8.3 per cent gain.

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Japan March export growth slows, annual trade deficit widens to recordTOKYO : Japan's export growth slowed in March, according to Ministry of Finance data, dragged down by a drop in China-bound shipments of cars and steel in a slide that underscores concern about slowing global demand amid Western banking-sector jitters.Import growth outpaced exports in March, due to the he
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