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MNI (London)
     TOKYO (MNI) - Japan's exports and imports both dipped further in October 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 9.2% y/y in October, following the previous 5.2% y/y
drop, marking a fifth straight monthly fall. The decrease was greater than that
forecast by the MNI median, which projected a 7.5% y/y drop.
     --Imports plunged 14.8% y/y in October, after the 1.5% y/y fall in
September, dragged lower by shrinking domestic demand. MNI's survey pointed to a
16.9% y/y fall. 
     --October's trade surplus stood at Y17.27 billion, compared with last
month's 123.0 deficit but far below the expected Y335.1 billion projected by
     --Exports to the top trade partners all fell -- dropping 10.3% to China,
11.4% to the United States and 8.4% to the European Union. Last month's fall
were -0.4%, -6.7% and -7.9 respectively.
     --Imports from China, US and EU all tumbled, down by -15.4%, -17.2% and
-10.8% respectively, following falls of 1.0%, 11.5% and 13.2% in the previous
--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email:
--MNI London Bureau; tel: +44 203-586-2225; email:
MNI London Bureau | +44 203-865-3812 |