TOKYO (AP) — Japan’s exports fell 8% in August from a year earlier, as trade tensions took a growing toll on demand across the region.
Exports of machinery, vehicles and chemicals all declined, the Finance Ministry reported Wednesday.
Imports slipped 12%, at the fastest rate in almost three years, suggesting slack demand inside Japan. Shipments to the U.S. slipped 4%, while those to China sank 12%.
Overall, export volumes fell nearly 6% and import volumes also fell by 6% as trade tensions between the U.S. and China and between Japan and South Korea reverberated across supply chains
A government survey of businesses released Wednesday showed sentiment at its worst since the aftermath of the March 2011 earthquake and tsunami which devastated a swathe of Japan’s northeastern coast.
This story has been corrected to show that exports fell 8%.