Japanese exports have nearly halved from a year ago, official figures showed yesterday, stoking fears that the world's second largest economy is heading even deeper into recession.
The country's dismal February trade performance was the latest in a string of bleak economic figures. It fuelled expectations that Japan was on course to suffer a steep fall in output in the first three months of 2009 that could match or even exceed the 3.2 per cent quarter-on-quarter decline recorded in the final three months of last year.
Japan, which is highly dependent on exports for growth, achieved a slim trade surplus of Y82.4bn ($844m) last month, after suffering a record deficit of more than Y950bn in January.
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