News @ AsiaOne

Japan trade surplus falls 94%

Sluggish exports are pushing the economy into recession. -Reuters

Thu, Oct 23, 2008
Reuters

TOKYO - JAPAN'S trade surplus fell 94.1 per cent to 95.11 billion yen (S$1.45 billion) in September, Ministry of Finance data showed on Thursday, underlining views that sluggish exports are pushing the economy into recession.
The September reading compared with economists' median forecast of a 62.7 per cent decline to a surplus of 600 billion yen.

Japan's custom-cleared trade balance logged its first effective deficit in nearly 26 years in August as high oil prices pushed up import costs while overseas demand for Japan-made goods weakened due to the spreading financial crisis.

 
 
 
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