Japanese exports to China fell again last month as a slowdown in the world’s number two economy weighs on the countries’ huge trading links, official data shows.
The tepid figures, following a decline a month earlier, highlight the challenges facing Tokyo’s bid to kickstart the economy in the face of slowing global growth.
And they will heap pressure on the Bank of Japan as it holds a meeting next week, with some economists saying policy makers may pull the trigger on more stimulus to counter a downturn.
Shipments by Japanese firms to China sank 3.5 per cent in September, the finance ministry said, while overall exports globally expanded a weak 0.6 per cent.
“The disappointing outcome was mostly due to weaker-than-expected export values, which only edged up by 0.6 per cent year-on-year,” Marcel Thieliant from Capital Economics said in a commentary on Wednesday.
The weak trade data follows softer GDP growth data in China, with annual growth to the end of September slipping to 6.9 per cent.
While that figure was higher than many economists expected, many think actual growth in China is much lower than official data shows.