Japan exports fall for 5th straight month in July

Friday, 19 August 2011 00:01 -     - {{hitsCtrl.values.hits}}

TOKYO (AP): Japan's exports fell for the fifth straight month in July as the country contends with a strong yen and the ongoing impact of the March earthquake and tsunami.

Exports fell 3.3 percent from a year earlier to 5.78 trillion yen ($75.6 billion), the government said Thursday.

Exports are a key driver of the world's No. 3 economy, and the country is hoping that overseas demand will help it bounce back from the March 11 disaster. Data earlier this week showed that Japan's economy is still mired in recession, shrinking for the third straight quarter in the April-June period.

The earthquake and tsunami damaged or destroyed factories in northeast Japan, which led to serious parts shortages for manufacturers in the auto and electronics industries. While the country has made progress in restoring production, it now faces new threats.