Sept exports 1.7 yryr vs forecast 0.5
Imports rise 2.1 yryr in Sept
Chinabound shipments down 7.3 yryr
Weak auto demand, stronger yen drag down exports
TOKYO, Oct 17 Reuters Japan39;s exports fell for the first time in 10 months in September, data showed on Thursday, a worry for policymakers as any prolonged weakness in global demand may complicate the central bank39;s path to exit years of ultraeasy monetary policy.
Soft demand in China and slowing U.S. growth weighed on exports, while the yen39;s recent rebound, in part due to the Bank of Japan39;s unexpected rate hike in late July, helped further push down their value.
It39;s possible that exports will continue to struggle in coming months in light of uncertainties particularly in the Chinese economy, Kazuma Kishikawa, economist at Daiwa Institute of Research, said.
China39;s domestic demand appears to be weaker than expected with the country39;s stimulus packages slow to make an impact, he added.
Total exports in September dropped 1.7 from a year earlier, Ministry of Finance data showed, missing a median market forecast for a 0.5 increase and following a revised 5.5 rise in August.
Exports to China, Japan39;s biggest trading partner, slumped 7.3 in September from a year earlier, while those to the United States were down 2.4, the data showed. Weak demand for automakers led the export declines for both countries.
The latest data serves as a reminder for the BOJ that a sharp rise in the yen can drag…