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| Version 1 | Version 2 |
|---|---|
| Japan exports drop 45% to new low | Japan exports drop 45% to new low |
| (about 3 hours later) | |
| Japan's exports plunged more than 45% in January compared to a year ago to hit the lowest figure ever recorded, official figures showed. | Japan's exports plunged more than 45% in January compared to a year ago to hit the lowest figure ever recorded, official figures showed. |
| Japan also had a trade deficit of 952.6 bn yen ($9.9bn; £6.8bn), the lowest figure since records began in 1979. | |
| The demand for Japanese cars in particular dropped by 69%. | The demand for Japanese cars in particular dropped by 69%. |
| Demand for electronics and other goods has also slumped as global economies and consumer spending contract, pushing Japan deeper into recession. | Demand for electronics and other goods has also slumped as global economies and consumer spending contract, pushing Japan deeper into recession. |
| Serious crisis | Serious crisis |
| Japanese exports to the US, which is at the centre of the slide, fell nearly 53% in January while shipments to the European Union retracted by 47%, Japan's finance ministry said. | Japanese exports to the US, which is at the centre of the slide, fell nearly 53% in January while shipments to the European Union retracted by 47%, Japan's finance ministry said. |
| Japan's export-led economy had previously been thought to be immune to the worst effects of the global recession, the AFP news agency reported. | |
| The government said last week that Japan's economy was in its most serious crisis since World War II, after it contracted annualised rate of 12.7% in the last quarter of 2008. | The government said last week that Japan's economy was in its most serious crisis since World War II, after it contracted annualised rate of 12.7% in the last quarter of 2008. |
| This was its worst performance in almost 35 years, officials said. | This was its worst performance in almost 35 years, officials said. |
| In response the government is pushing bills through parliament to implement a stimulus plan, including a cash handout of at least 130 dollars per Japanese taxpayer, the BBC's Roland Buerk reports from Tokyo. | |
| But any bold moves may be difficult to push through because of the unpopularity of Prime Minister Taro Aso, our correspondent says. | |
| US President Barack Obama and Mr Aso have agreed to work together to stimulate economic demand and fight protectionism as the latter visits the US. | |
| The US and Japanese economies are respectively the world's largest and second-largest. | The US and Japanese economies are respectively the world's largest and second-largest. |