Japan’s Exports Declined More-Than-Expected 10.3% in May
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Japan’s exports fell more than economists estimated in May, adding to signs the world’s third-largest economy may struggle to recover from the March 11 earthquake and tsunami.
Exports decreased 10.3 percent from a year earlier after April’s revised 12.4 percent drop, the Finance Ministry said today. The median estimate of 25 economists surveyed by Bloomberg News was for an 8.4 percent decline. The nation posted a trade deficit of 853.7 billion yen ($10.7 billion), the second biggest since comparable data were made available in 1979.