Japan's exports decline for third straight month

Japanese exports declined for the third straight month in February while imports also fell, according to government data Monday, indicating a possible slowdown in the world's third biggest economy.

Exports slipped 1.2 percent from a year earlier to 6.38 trillion yen ($57 billion) and imports declined even more sharply -- by 6.7 percent to 6.05 trillion yen.

"Concerns remain for the immediate future given worries over the global economy and weak demand in the IT sector," Asuka Sakamoto, economist at Mizuho Research Institute, told AFP.

The weak import figure is also a source of concern as it may reflect declining orders for companies as they reduce production domestically, added Sakamoto.