Monday, November 21, 2011

Japan's exports decline for first time in three months

Japan's exports have fallen for the first time in three months, reinforcing worries that the strong yen and global debt crisis are affecting the economy.

Shipments dropped 3.7% in October from a year earlier, said the Ministry of Finance.

This pushed the balance of trade into a deficit, as imports jumped on high fuel costs.

The Bank of Japan warned last week that the debt crisis in Europe was stifling demand and hurting Japanese exporters. more