Japan's exports fall for 2nd straight month in November

Japan's trade gap increased to ¥684.7 billion (US$8.79 billion) from ¥282.2 billion in October, the Ministry of Finance reported on Wednesday. The deficit was wider than median forecast. Japan’s exports fell for the second straight month in November, as the global economic slowdown and a stronger yen continued to hurt the nation’s recovery from the March disasters. Japan's trade gap increased to ¥684.7 billion (US$8.79 billion) from ¥282.2 billion in October, the Ministry of Finance reported on Wednesday. The deficit was wider than median forecast. Exports fell 4.5% in November from a year earlier, the Ministry of Finance said today in Tokyo. The median estimate of economists was for a 4.3% decline. In October, exports were down 3.7%. Japan's imports for the month under review rose 11.4%. Exports to Asia fell 8% while shipments to China declined 7.9%, according to the Ministry of Finance. Overseas sales to the US rose 2% in November.