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

Tags: Japan Abe Abenomics sankei poll

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

Richard Katz is Editor of The Oriental Economist Report, a monthly newsletter on Japan, as well as the semi-weekly TOE Alert e-mail service on Japan, and is also a special correspondent at Weekly Toyo Keizai, a leading Japanese business weekly.

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