Japan exports shrink for 13th month in further blow to economy

Japan's exports fell for a 13th straight month in December, dragged down by...

TOKYO - Japan’s exports fell for a 13th straight month in December, dragged down by U.S.-bound shipments of cars, construction and mining machinery, in a sign weak external demand is keeping a lid on the export-reliant economy.

Analysts and policymakers say a preliminary trade deal agreed between the United States and China last week and progress on Britain’s exit from the European Union would help ease worries over global trade, a key driver of Japan’s economy. On Tuesday, the BOJ nudged up its economic growth forecasts and sounded cautiously optimistic about the global outlook, though it said ongoing risks meant it was way too early to consider scaling down its massive stimulus.

Exports to Asia, which accounts for more than half of Japan’s overall shipments, decreased 3.6% in the year to December, it showed.

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