Japan's July exports fell 0.3%, first drop in more than 2 years

Country logs 1st trade deficit in 2 months; China-bound shipments decline 13%

Containers at the Port of Kobe. Japan's exports destined for China dropped for an eighth consecutive month in July. (Photo by Yo Inoue)

CHIHIRO ISHIKAWA, Nikkei staff writer

August 17, 2023 08:57 JST

Updated on August 17, 2023 13:01 JST

TOKYO -- Japan's exports for July declined 0.3% from a year earlier, the first drop in more than two years, reflecting the slowing global economy including in key trade partner China.

Preliminary data released Thursday by the Finance Ministry shows Japan's exports totaled 8.725 trillion yen ($59.6 billion) last month, the first year-on-year decline since February 2021.