Japan trade deficit shrinks 31.5% on-year in November

The metropolitan government's survey boat passes before the international cargo terminal at the port in Tokyo on December 8, 2014Japan’s trade deficit in November shrank by nearly a third from a year earlier, helped by higher exports and lower bills for oil imports, official data showed Wednesday. “The drop in the trade shortfall in November should be followed by a further narrowing in coming months as lower oil prices will reduce the import bill,” said Marcel Thieliant, Japan economist at Capital Economics. The November deficit extended the run of Japan’s shortfalls to the 29th straight month but it was smaller than the median forecast of 996 billion yen in the red in a survey by the Nikkei business daily.

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