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Japan Exports Suffer Largest Fall down since 2009

Japan Exports Suffer Largest Fall down since 2009

Japan’s yearly exports in Jan month fell the most since the global financial crisis as requirement weakened in China & other major markets, leaving behind the economy in a precarious position after a fourth-quarter contraction.

Ministry of Finance data reported exports fell down by 12.9 per-cent year-on-year in January versus a median market prediction for a 11.3 per-cent drop, with the 4th straight month of declines led by a slump in shipments of steel and oil products.

It was the largest decline since Oct 2009 when the world financial crisis knocked demand across the world. The newely data adds to emerging concerns that authorities of Japan are left with few options to revive a stumbling the economy even as the Bank of Japan remains proactive in policymaking, shocking markets previous month by adopting negative interest rates to spark momentum.

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