» 08/22/2012 09:46 JAPAN Euro crisis (and China) sinking Japanese exports Trade with the EU fell by 25.1% in one year, 11, 9% with China. U.S. exports rose only 4.7%. Low domestic demand in the country, due to the slow post-tsunami reconstruction.
Tokyo
(AsiaNews / Agencies) - Japan's exports fell dramatically in July, hit by the
crisis in Europe and the slowdown of the Chinese and the U.S. economy.
In one year, the Land
of the Rising Sun exports fell 8.1%. Those
to the European Union fell by 25.1%, marking the strongest decrease since 2009,
following the subprime mortgage crisis in the U.S., trade was down by 29%.
Exports to China -
Japan's largest trading partner - fell by 11.9% in a year, marked mainly by the
reduction in the trade of semiconductors, electronics and auto parts.
Another troubling
sign is that exports to the U.S. rose only 4.7% compared to a year ago.
The reduction in
international demand is coupled with the problem of a sluggish domestic demand
in a country still scarred by the aftermath of the tsunami and the slow
reconstruction process.
The Japanese
Ministry of Finance has announced that Japan's trade deficit rose to 517.4
billion yen (5.23 billion euros).
