Japan’s merchandise trade deficit narrowed more-than-expected in November from a year ago, as imports fell faster than exports, the Ministry of Finance said on Thursday.
The trade deficit decreased notably to JPY 379.7 billion in November from JPY 898.8 billion in the corresponding month last year. Economists had expected the deficit to narrow to JPY 449.7 billion.
Exports dropped 3.3 percent year-over-year in November, exceeding economists’ expectations for a 1.6 percent decline.
Similarly, imports plunged 10.2 percent in November from a year ago. The expected rate of fall was 7.3 percent.
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