Japanâ€™s exports fell the most since the aftermath of last yearâ€™s earthquake as a global slowdown, the yenâ€™s strength and a dispute with China increase the odds of a contraction in the worldâ€™s third-largest economy.
Shipments slid 10.3 percent in September from a year earlier, leaving a trade deficit of 558.6 billion yen ($7 billion), the Finance Ministry said in Tokyo today. The median forecast in a Bloomberg News survey of analysts was for a 9.9 percent export decline. Imports rose 4.1 percent.
Economy Minister Seiji Maehara pressed the Bank of Japan for more action yesterday, saying the nation is â€œfalling behindâ€ in monetary stimulus and is at risk of another credit- rating downgrade. The BOJ today cut its view of eight out of nine regional economies while Taiwanese unemployment rose to a one-year high, underscoring weakness across Asia after Chinaâ€™s third-quarter growth was the slowest since 2009.
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