Japan's trade shrinks in November, despite strong exports of vehicles and computer chips
ABC News
Japan has reported its exports fell slightly in November from a year earlier while imports declined nearly 12%
TOKYO -- Japan's exports fell slightly in November from a year earlier, the first decline in three months, while imports were down nearly 12%, the government reported Wednesday.
Tepid global demand has been a drag on Japan’s economy, which depends heavily on export manufacturing.
Recent weakness of the Japanese yen against the dollar has meanwhile undercut its purchasing power for imports, though costs for oil and gas have fallen with a decline in oil prices since September.
Preliminary customs data show that exports in November fell 0.2% to 8.8 trillion Japanese yen ($61 billion) while imports declined 11.9% to 9.6 trillion yen ($66 billion). That left a deficit of 776.9 trillion yen ($5.4 billion).
Exports to the rest of Asia were down 4%, while exports to the U.S. rose more than 5%. Shipments to China, Japan’s biggest single overseas market, fell more than 2%.
