BUSINESS

Japanese Exports Plunge 49% As Global Slump Deepens

04/24/2009 05:12 am ET | Updated May 25, 2011

Japan's exports plunged by a record in February as deepening recessions in the U.S. and Europe sapped demand for the country's cars and electronics.

Overseas shipments fell 49.4 percent from a year earlier, the sharpest decline since at least 1980, when the government started to keep comparable data, the Finance Ministry said today in Tokyo. Economists predicted a 47.6 percent drop.

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