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Sat, 09/28/2024 - 11:37
Submitted by maithuy on Wed, 04/20/2011 - 16:50
Japanese exports fell more than expected in March, as damage from last month's earthquake and tsunami affected shipments.

According to the finance ministry exports declined 2.2 percent from a year earlier, the first drop in 16 months.

Shipments of cars tumbled 28 percent as the sector continued to be hit by shortfall of parts and slowdown in production.

The earthquake and tsunami has damaged factories and disrupted the supply chain.

Shipments of semiconductor products and electronics also fell by 6.9 percent.

For Japan's two major export destinations, shipments to the US declined 3.4 percent from the previous year, while shipments to China rose an annual 3.8 percent.

Analysts say the disruption in the supply chain is making it difficult for Japanese manufacturers to get back on track.

"It is very frustrating for automakers and other manufacturers," said Hiroshi Watanbe of Daiwa Institute of Research.

While the Japanese economy struggles to deal with the effects of the earthquake and tsunami, analysts warn that the situation could get worse in the coming months.

BBC

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