Japan's exports fall for first time in 3 months

Japan's exports fell for the first time in three months in October, eroded by a strong yen and a sputtering global economy. Exports declined 3.7 percent from a year earlier to 5.51 trillion yen ($71.7 billion), the finance ministry said Monday. Shipments to key markets such as China, North America and the European Union weakened, according to a report of the Associated Press. Meanwhile, imports were up almost 18 percent to 5.79 trillion yen ($75.3 billion). That resulted in an unexpected trade deficit of 273.8 billion yen ($3.56 billion). By category, exports of electrical machinery, including semiconductors and audio goods, fell 12.3 percent. Transportation equipment slipped 0.2 percent.