MNI DATA IMPACT: Japan Nov Exports -7.9%, Imports -15.7% y/y

     TOKYO (MNI) - Japan's exports were in negative territory again in November

while imports also dipped as the economy continues to slow, data released

Wednesday by the Ministry of Finance showed.

     The key points from the data:

     --Japan's exports fell 7.9% y/y in November, following the previous 9.2%

y/y drop, posting a 12th straight monthly fall. The decrease was higher than

forecast by the MNI median, which projected a 9.1% y/y drop.

     --Imports dropped 15.7% y/y in November, after the 14.8% y/y fall recorded

last month, dragged lower by shrinking domestic demand. MNI's survey pointed to

a 12.5% y/y fall. 

     --November's trade balance was a deficit of Y82.08 billion. This compared

with last month's surplus and was below the expected Y380.0 billion projected by

MNI.

     --Exports to China recovered but still fell, down 5.4% y/y versus the 10.3%

drop last month. Exports to the United States fell 12.9% y/y, quicker than

-11.4% y/y in October while exports to the European Union dropped 7.5% y/y,

compared with the previous 8.4% y/y fall. 

     --Imports from the US and the EU both edged up -- down 10.3% y/y and 5.5%

y/y, compared with the previous 17.2% y/y and 10.8% y/y falls respectively.

Imports from China slid quicker to -16.4 y/y from -15.4% y/y recorded for the

previous month.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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