Asia-Pacific

Japan's exports rise 14.4 percent in September

(Agencies)
Updated: 2010-10-25 10:17

TOKYO - Japan's exports in September grew at their slowest pace this year, hit by a strong yen and cooling foreign demand amid concern over the health of the global economy, the government said.

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Japan's exports climbed 14.4 percent from a year earlier to 5.8 trillion yen ($72 billion) in September, the Ministry of Finance said. It was the slowest month of export growth in 2010.

Exports to China, Japan's biggest trading partner, increased 10.3 percent in September from a year earlier, the ministry said. U.S.-bound shipments grew 10.4 percent, while those to the European Union rose 11.2 percent in the month.

Japan's exports to Asia increased 14.3 percent, marking the 11th consecutive month of year-on-year growth, the ministry said.

A strong yen cuts the value of repatriated profits for Japanese exporters like Toyota Motor Corp. and Sony Corp., and makes their products less competitive abroad. The ministry said the yen in September strengthened about 9 percent against the dollar from the same period last year.