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| Version 1 | Version 2 |
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| Japan reports rare trade deficit | Japan reports rare trade deficit |
| (about 3 hours later) | |
| Japan has reported its first annual trade deficit in 28 years, with exports in the year to March down 16% from the previous year. | Japan has reported its first annual trade deficit in 28 years, with exports in the year to March down 16% from the previous year. |
| Total exports in February and March were half of what they had been a year earlier, the finance ministry said. | Total exports in February and March were half of what they had been a year earlier, the finance ministry said. |
| Demand in the United States and Europe for Japanese cars and electronics has remained low amid global economic woes. | Demand in the United States and Europe for Japanese cars and electronics has remained low amid global economic woes. |
| But analysts say a slowing of the drop in sales to China indicates Beijing's economic stimulus may be taking hold. | But analysts say a slowing of the drop in sales to China indicates Beijing's economic stimulus may be taking hold. |
| Japan's exports fell 45.6% in March compared with a year earlier, largely in line with forecasts, while imports fell 36.7%, Ministry of Finance data showed. | Japan's exports fell 45.6% in March compared with a year earlier, largely in line with forecasts, while imports fell 36.7%, Ministry of Finance data showed. |
| Despite the annual deficit, that produced a small surplus of 11.0bn yen ($111.5m; £76.1m) for the month of March. | |
| China hope? | China hope? |
| However, exports to China fell only 31.5% in March from a year earlier, compared to a 39.7% decline in February and one of 45.2% in January. | However, exports to China fell only 31.5% in March from a year earlier, compared to a 39.7% decline in February and one of 45.2% in January. |
| This improvement has persuaded analysts to see signs of hope, at least within Asian trade. | This improvement has persuaded analysts to see signs of hope, at least within Asian trade. |
| Reuters quoted Yoshiki Shinke, senior economist at the Dai-Ichi Research Institute as suggesting the pace of decline may slow in the next quarter. | Reuters quoted Yoshiki Shinke, senior economist at the Dai-Ichi Research Institute as suggesting the pace of decline may slow in the next quarter. |
| "The worst of the decline in exports may be over, and there are some positives to take from this data. Exports to China are falling at a slower pace and may improve further due to the Chinese government's stimulus package. | "The worst of the decline in exports may be over, and there are some positives to take from this data. Exports to China are falling at a slower pace and may improve further due to the Chinese government's stimulus package. |
| "The fall in imports show domestic demand and capital expenditure are weak, and that is certainly nothing to cheer about," he added. | "The fall in imports show domestic demand and capital expenditure are weak, and that is certainly nothing to cheer about," he added. |
| Exports to Asia fell 39.5% in March from a year earlier, while exports to the US dropped 51.4%, and those to the European Union were down 56.1%. | Exports to Asia fell 39.5% in March from a year earlier, while exports to the US dropped 51.4%, and those to the European Union were down 56.1%. |
| Japanese newspapers have reported expectations that economic growth forecasts would be lowered again, to a 3% contraction, due to the rapid deterioration in trade and production. | Japanese newspapers have reported expectations that economic growth forecasts would be lowered again, to a 3% contraction, due to the rapid deterioration in trade and production. |