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Japanese exports down 45.6%

Japanese exports plummeted by 45.6% in March compared with a year earlier.

Japanese exports plummeted by 45.6% in March compared with a year earlier, government data shows.

Japan’s trade surplus plunged 99% last month to ¥10.96 billion (£77m).

According to the table published by the government, the country accumulated a trade deficit of ¥725.3 billion over the past 12 months. The table also shows this is Japan’s first shortfall for a fiscal year since 1980.

However, shortly after the figures were released, Bloomberg reported that the yen rose against all of the other major currencies. The report suggests this adds to signs that the worst recession may be over.

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