Japan’s exports fall for 1st time in 3 months

Overseas shipments unexpectedly down 0.2% while imports plunge 11.9% from year ago in November

By Tuba Ongun

Japan's exports decreased for the first time in three months in November, according to ministry data released Wednesday.

The overseas shipments were unexpectedly down 0.2% year-on-year to 8 trillion yen ($61.2 billion) in November, while the market had forecast a 1.5% hike.

Sales of machinery plunged 10.2% and manufactured goods slipped 6.1% helped by an 11.6% decline in iron and steel products and 7.7% decrease in non-ferrous metals.

Imports dropped more than expected by 11.9% from a year ago to 9.6 trillion yen ($66.8 billion), marking the eighth consecutive month of decline.

This was mainly led by purchases of mineral fuels slipping 25.5%, namely petroleum (down 11.5%) and LNG (down 34.1%).

The trade deficit plummeted to 776.9 billion yen ($5.4 billion) in November from 2 trillion yen ($13.9 billion) last year.

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