Wednesday, 24th June 2009
In Business In Japan,
Japan's international trade continues to suffer
New figures published by the Japanese government have indicated that the country's export industries are continuing to experience difficulties.
Waning international demand for traditional Japanese exports such as cars and electronics have contributed to a 40.9 per cent decrease in exports in May compared to 2008.
Overall exports to the US fell by 45.4 per cent, with vehicle exports taking a 54.8 per cent hit.
However, Japanese economists may take encouragement from the fact that exports for the month exceeded imports by 299.8 billion yen (£1.9 billion), which represents the country's biggest trade surplus in a year.
Last week, the Japanese finance minister Kaoru Yosano predicted that the country's economic slump, which is now its worst since the second world war, may have already reached the bottom and forecast possible recovery in the near future.
However, he cautioned that Japan's financial situation would continue to remain difficult for the time being.
Written by Graham McPherson