Japan logged a record trade deficit of ¥684.7 billion in November as exports continued to suffer from the flooding in Thailand and fears of a global economic downturn lingering from the sovereign debt crisis in Europe, the Finance Ministry said Wednesday in a preliminary report.
A deficit in goods trade was logged for the second straight month. Exports dropped 4.5 percent from a year earlier to ¥5.19 trillion for the second consecutive monthly slide, while imports grew 11.4 percent to ¥5.88 trillion, the 23rd consecutive month of gain, on growing domestic energy consumption, the report said.
Trade with the European Union was hit by concerns about fallout from fiscal problems in the 27-nation bloc. Japan's trade surplus with the region shrank 84.2 percent to ¥27.6 billion, the lowest figure seen since 1979. Exports of vehicles and digital cameras suffered the most.