LONDON (ShareCast) - Japanese exports continued declining in May as the global economic downturn continued hitting demand for the east Asian country's electronic products and cars.
Exports were down by 40.9% from May 2008, a sharper decline
than the 39.1% decline seen in April.
"Overall exports remained depressed, which squarely reflected the ongoing economic downturn," said Yu Ooki, a finance ministry official.
Demand for Japan's overseas shipments has been hit hard by weak economic conditions across the globe, notably in the US, which imported more than 50% fewer cars from Japan in May.
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