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WORLD

JAPAN`S EXPORT GROWTH SLOWS FOR SIXTH STRAIGHT MONTH

27.09.2010 [21:53]
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Baku, September 27 (AZERTAC). Japan`s export growth slowed for a sixth straight month in August, in a sign that the recovery is losing steam.

August`s 15.8% annual rise in exports was well down from a peak in February, when growth rose to 45.3%.

The August slowdown came as the yen approached a 15-year high against the dollar, and led to Japan`s central bank intervening to weaken the currency.

Japan is also worried that a deepening territorial row with its biggest export partner, China, will also hurt growth.

The Japanese trade figures show that US-bound exports rose 8.8% from a year earlier, but were much weaker than the 25.9% rise in July.

Exports to Asia, which account for more than half of Japan`s total exports, rose 18.6% from August last year, slower than July`s increase of 23.8%.

Exports to China were up 18.5% in August from a year earlier, down from a 22.7% annual increase in July.

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