Japanese exports grow at weakest pace since 2005

0 Comments | AFP, April, 2008

TOKYO (AFP) — Japan's trade surplus shrank 30.2 percent in March with exports growing at the weakest pace in almost three years due to the US economic slowdown, official figures showed Wednesday.

US-bound exports showed a double-digit plunge while demand from the rest of Asia cooled as the global economic climate grew increasingly chilly.

Exports grew by just 2.3 percent year-on-year -- the smallest increase since May 2005 -- while imports rose 11.1 percent.

The world's second-largest economy had a trade surplus of 1.12 trillion yen (10.86 billion dollars), below market forecasts for 1.36 trillion and down sharply from 1.60 trillion a year earlier, the finance ministry reported.

US-bound exports tumbled 11.0 percent, the sharpest drop since November...