The performance of the import and export market declined once again for businesses in Japan during March.
Japanese exports fell 6.8 per cent year on year during the month, hitting ¥6.46 trillion (€51.83 billion), following a four percent drop in February. It means the country's overseas shipments have now fallen for six consecutive months.
Meanwhile, imports dropped by 14.9 per cent in March to ¥5.702 trillion, representing the 15th consecutive month of declines. The overall trade balance for the month was ¥755 billion, up from ¥222.7 billion in March 2015.
Key trends affecting the performance of international traders include the renewed strength of the yen, which is making Japanese-made products less competitive abroad. Slower growth in many other territories is also serving to reduce demand for exported goods.
Marcel Thieliant, senior Japan economist for Capital Economics, said the impact of the Japanese export values on company revenues "may undermine their willingness to invest and lift wages", reports Bloomberg.