TOKYO — Japanese exports plunged a record 26.7% in November from a year earlier on falling demand amid a deepening global recession, the finance ministry said today.
Japan's trade deficit totaled 223.4 billion yen ($2.5 billion) as exports dropped to 5.3 trillion yen ($60 billion), the ministry said.
This was the biggest drop in exports since the current system of statistics took effect in 1980.
"The plunge in exports in November clearly reflected a severe global downturn. Demand for Japanese goods, especially cars and electronics products, is falling sharply everywhere," ministry official Yu Oki said.
Exports to the United States, the world's largest economy, nose-dived a record 33.8% in November, marking the 15th consecutive year-on-year fall.