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Japan November exports seen falling more slowly on global recovery trend
December 16, 2016 / 6:52 AM / a year ago

Japan November exports seen falling more slowly on global recovery trend

TOKYO (Reuters) - Japan’s exports are expected to have fallen for the 14th straight month in November, but at a slower rate of decline than before, a Reuters poll found.

Newly manufactured cars of the automobile maker Honda await export at port in Yokohama, south of Tokyo June 23, 2015. REUTERS/Toru Hanai/File Photo

Exports were seen likely to fall 2.0 percent in November from a year earlier, the poll of 20 analysts found, a far cry from the 10.3 percent drop in October and 6.9 percent decline in September.

Imports were seen likely to fall an annual 12.6 percent last month, a 23rd straight monthly decline, the poll showed.

As a result, the poll forecast a trade surplus of 227.4 billion yen (1.56 billion pounds), a third straight surplus month.

“The trend of moderate recovery in the global economy is gaining momentum, especially emerging economies,” said Takeshi Minami, chief economist at Norinchukin Research Institute.

“A weaker yen is expected to inflate the value of exports ahead and the global economic recovery will likely help the volume as well.”

The yen stood around 118.15 yen JPY=EBS per dollar on Friday, near its 10-1/2-month low of 118.66 yen hit on Thursday.

The finance ministry will issue the trade data at 8:50 a.m. Dec. 19 (2350 GMT Dec. 18.)

Reporting by Kaori Kaneko; Editing by Eric Meijer

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