Japan May exports fall 11.3% year on year: MOF

[TOKYO] Japan's exports fell 11.3 per cent in May from a year earlier, Ministry of Finance data showed on Monday, as a strong yen and lacklustre growth in emerging markets curb demand for Japanese goods.

The fall was more than a 10.4 per cent decrease expected by economists in a Reuters poll. It followed a 10.1 per cent year-on-year decline in April.

Imports fell 13.8 per cent, matching the median estimate.

The trade balance came to a deficit of 40.7 billion yen ($523.7 million), versus the median estimate for a 40.0 billion yen surplus.

REUTERS