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Yahoo! My Yahoo! Mail More Yahoo! Services Account Options New User? Sign Up Sign In Help Yahoo! Search web search Home Singapore Asia Pacific World Business Entertainment Sports Technology Singapore Asia Pacific World Japan's exports post slowest decline in 14 months By TOMOKO A. HOSAKA,Associated Press Writer - Monday, December 21 Send IM Story Print TOKYO – Japan's exports posted their smallest fall in 14 months in November as robust Asian demand bolstered hopes a recovery in trade will avoid another recession in the world's second-biggest economy. Exports, a mainstay of Japan's economy, fell 6.2 percent to 5.0 trillion yen ($55 billion) from a year earlier, the finance ministry said Monday. In October, exports fell 23.2 percent. The smaller decline in exports is a rare of piece of encouraging news for an economy struggling to find its footing amid a strong yen and deflation. Government spending measures around the world have helped fuel demand for Japan's cars, gadgets and machinery. Goldman Sachs economist Chiwoong Lee said the figures suggest that the turnaround in exports is sustainable. "The likely pattern for the Japanese economy is an underpinning from exports and related capex as domestic demand crumbles due to the loss of policy stimulus," Lee said. Emerging from recession, Japan's economy expanded at an annualized pace of 1.3 percent in the July-September quarter. Since then, however, the economy has come under increasing pressure from deflation and a stronger yen, which reduces the value of exporters' earnings abroad. A survey in the Nikkei financial daily Monday showed that nearly half of business leaders polled worry that Japan will fall back into recession next year. The heads of 140 major Japanese firms in the survey cited the appreciating yen and the waning impact of economic stimulus steps. With imports down 16.8 percent from a year earlier to 4.6 trillion yen, Japan posted a trade surplus of 374 billion yen for November. Among key regions, Japan's shipments to the U.S. fell 7.9 percent for the 27th straight drop but the fall was far less severe than previous months. Japanese exports to the European Union fell 15.9 percent. Asia-bound exports, meanwhile, rose 4.7 percent, led by electrical equipment, general machinery and motor vehicles. Shipments to Taiwan jumped almost 17 percent, while those to China expanded 7.8 percent. Japan's neighbors have become increasingly vital to Japan's economy. Exports to the rest of Asia totaled 2.7 trillion yen _ more than those to North America (920 billion yen) and Western Europe (624 billion yen) combined. Recommend Send IM Story Print Related Articles Albany Int'l declares quarterly cash dividend AP - 54 minutes ago ACS wins $22 million automated toll contract AP - 1 hour 12 minutes ago Walgreen 1Q profit rises 20 percent on drug sales AP - 1 hour 16 minutes ago HSBC sells Paris building for $573 mln Reuters - 1 hour 24 minutes ago Russia's CTC Media to pay former CEO $26 mln Reuters - 1 hour 26 minutes ago News Search Top Stories Swedish crisis talks on Saab amid doubts over Spyker bid Missing Dutch teen sailor found in Caribbean Japan logs trade surplus, boosted by China growth US actress Brittany Murphy dies at 32 Thousands warned to flee Philippine volcano zone More Top Stories » Related Full Coverage China Economychina economy All Full Coverage » ADVERTISEMENT Most Popular Most Viewed Most Recommended Dwindling roster of sponsors for Tiger Woods US actress Brittany Murphy dies at 32 Christmas chaos as cold cripples Eurostar trains 'Avatar' director Cameron gets Hollywood star Thousands warned to flee Philippine volcano zone More Most Viewed » Tiger's wife Elin seeking divorce: reports Virgin unveils spaceship to offer space tourism Brazilian confesses to sticking needles into two-year-old Tiger Woods' girlfriend apologizes in TV interview Woods' mother-in-law rushed to hospital More Most Recommended » Elsewhere on Yahoo! Financial news on Yahoo! Finance Stars and latest movies Best travel destinations More on Yahoo! News Home Singapore Asia Pacific World Business Entertainment Sports Technology Subscribe to our news feeds Top StoriesMy Yahoo!RSS » More news feeds | What are news feeds? Also on Yahoo Answers Groups Mail Messenger Mobile Travel Finance Movies Sports Games » All Yahoo! Services Site Highlights Singapore Full Coverage Most Popular Asia Entertainment Photos Copyright © 2009 Yahoo! Southeast Asia Pte. Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Terms of Service | Privacy Policy | Community | Intellectual Property Rights Policy | Help

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