Japan's export growth slowed more-than-expected in July as shipments to the United States fell for the second month in a row as the auto sector fell sharply, trade disputes hit and cast doubt on foreign demand.
Japan's exports rose by 3.9% on a yearly basis in July, well below market expectations of 6.3%, after exports rose by 6.7% in June. Japan's exports to the United States fell by 5.2 percent on a yearly basis in July, down for a second month in a row as cars shipments fell by 12.1 percent.
Imports from the United States rose by 11 percent in 2018 to July, and as a result Japan's trade surplus with the United States fell by 22.1 percent on a yearly basis to 502.7 billion yen, or 4.55 billion dollars.
Exports to China, Japan's largest trading partner, rose by 11.9 percent in July, and shipments to Asia, which account for more than half of Japan's total exports, rose by 8 percent. Meanwhile, total imports rose by 14.6 percent in July, resulting in a deficit of 231.2 billion yen.
