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Yen, euro crisis hit Japan exports

Strong yen affecting Japanese exports
Strong yen affecting Japanese exports

Japan's exports have fallen for the first time in three months, reinforcing worries that the strong yen and global debt crisis are affecting the economy.

Shipments dropped 3.7% in October from a year earlier, according to the Ministry of Finance.

This pushed the balance of trade into a deficit, as imports jumped on high fuel costs.

The Bank of Japan warned last week that the debt crisis in Europe was stifling demand and hurting Japanese exporters.

In September, the Japanese economy had looked like it was back on track following the devastating 11 March earthquake and tsunami.