Japan’s exports rose less than forecast in November, underlining challenges to Prime Minister Shinzo Abe’s efforts to steer the economy out of recession.
Overseas shipments rose 4.9 percent from a year earlier, the finance ministry said, below the median estimate for a 7 percent gain in a Bloomberg News survey and less than October’s 9.6 percent increase. Imports slid 1.7 percent, leaving a trade deficit of 892 billion yen ($7.6 billion).
Abe faces increased pressure to boost growth after a win in an election he fought on a pledge to pursue his Abenomics policies. While tumbling oil prices will reduce Japan’s import bill, export growth is likely to slow in coming months, said Marcel Thieliant, an economist at Capital Economics.