Japan’s trade deficit eased in October
after exports of cars, ships and steel picked up while oil prices dropped.
The overall trade deficit fell 36
percent from a year earlier to 710 billion yen ($6 billion). It was the 28th
straight month of deficit, but much lower than economists had forecasted.
Exports rose 9.6 percent from a year
earlier to 6.69 trillion yen ($56.7 billion) while imports rose 2.7 percent to
7.4 trillion yen ($62.7 billion).
The value of exports was the highest
since 2008, while shipments to the U.S., China and other major trading partners
hit their highest level in over a year, according to the preliminary data from
the Finance Ministry.
Japan's economy slipped into recession
in July-September as consumer demand and business investment languished following
a sales tax hike in April. A long-awaited recovery in exports could help
reverse that trend.
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