Report
Real Exports in June Down 2% From Last Year
posted by Richard Katz on July 24, 2014
Found in Japan, categorized in Growth Outlook and Business Cycle
Report Cover
Headline
In the July Sankei poll, voters for the first time disapproved of Abenomics, with 47% disapproving and just 39% approving
Abstract
In the July Sankei poll, voters for the first time disapproved of Abenomics, with 47% disapproving and just 39% approving
Real (price-adjusted) exports in June down 2% from a year ago
Real exports are no higher than they were 21 months ago when yen depreciation began
Normally, a 22% weaker yen should have produced some export benefit by now; the fact that exports are stagnant suggests fundamental underlying competitiveness problem
Nominal trade was in deficit for the 41st consecutive month
The reason is not imports of more energy or other items—real exports are down 4% from 21 months ago—but that Japan is paying higher prices due to the yen depreciation
About Richard Katz
Richard Katz is Senior Fellow at the Carnegie Council for Ethics In International Affairs, the New York correspondent for Weekly Toyo Keizai, a leading Japanese business magazine, and formerly the editor of The Oriental Economist Report, a monthly newsletter on Japan.
Mr. Katz has taught about Japan’s economy as an Adjunct Associate Professor at the New York University Stern School of Business, and as a Visiting Lecturer in Economics at the State University of New York (SUNY) at Stony Brook.
Mr. Katz is the author of two books on Japan's economic travails and has just finished a third book on reviving entrepreeurship in Japan.
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