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Japan sees biggest trade deficit
Japan logged a record trade deficit in January, government data showed today, the clearest evidence to date of pain from a firm yen, a global slowdown and rising fuel imports needed to offset declining use of nuclear power. Japan’s exports slumped 9.3 per cent last month from a year earlier, slightly less than the median market estimate of 9.5 per cent but still the fourth straight month of decline, in a sign the economy could struggle to recover even as reconstruction from last year’s earthquake and tsunami proceeds. However economists said seasonal factors influenced the data and they expect exports to recover soon.