Instead of an expected downturn, Asia's fourth-largest economy squeaked out slight first-quarter GDP growth of 0.1 percent, rather than contracting by .2 percent as expected, according to the Bank of Korea.

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's Nikkei average rose 0.6% on Wednesday, lifted by exporters on a weaker yen. Pioneer was untraded due to a glut of buy orders after sources claimed the electronics maker is considering applying for state funds. Elpida Memory soared nearly 17% after a local paper said it may seek around 50 billion yen (US$507 million) in public money to shore up its capital.

Annual growth in China's gross domestic product (GDP) slowed in the first quarter of 2009 to 6.1%, the National Bureau of Statistics has announced.

China's exports increased last month, but still were down 17% year-on-year, according to figures released by the Chinese government. Imports to China dropped 25% on year to US$72 billion.

Japan's second lost decade holds worrying lessons for other rich economies. Its large fiscal stimulus succeeded in preventing a depression in the 1990s after its bubble burst—and others are surely correct to follow today. But Japan's failure to spur a strong domestic recovery a decade later suggests that America and Europe may also have a long, hard journey ahead.

As world leaders assemble in London for the Group of 20 summit this week, the latest evidence of the severity of the economic crisis emerged from Asia on Wednesday (April 1).

Growth in Vietnam stumbled to its slowest rate in a decade in the first quarter, falling to 3.1% year-on-year as its export-driven economy is strangled by tumbling global demand and inward investment.

Japan's exports saw a record plunge in February, falling by nearly half compared with a year earlier, according to the country's finance ministry.

Singapore's exports fell for a 10th month in February, as a collapse in global demand for electronics and pharmaceuticals extended the longest slump in the nation's overseas sales since 2002.

China exports dropped an "ugly" 25.7% in February after January's 17.5% fall. The government is trying to boost domestic spending to alleviate the pain

China's exports fell more than expected in January, down 17.5% from a year earlier, marking the biggest drop in more than 10 years, figures have shown. Analysts say the slowdown could prompt more factory closures and job losses, while some argue that this worsening trend will continue, as the world economy contracts.

Outbound shipments plunged for the sixth straight month by a record 44.1% on year last month, due to slumping demand as well as fewer working days, the Ministry of Finance said yesterday.

Unlike past US recessions, chipmakers can't count on boosting overseas sales this time because the economic slowdown has so quickly gone global. Slowing exports is a challenge for the chipmakers, which do most sales overseas. Three of the largest US chipmakers are taking different tacks to cut manufacturing costs in the face of a steep global recession.

Asia's export-driven economies had benefited more than any other region from America's consumer boom, so its manufacturers were bound to be hit hard by the sudden downward lurch. Asia's low rate of consumption and borrowing means that it has huge scope to make consumption the engine of growth over the next decade.

Singapore's economy may shrink a record 5% this year as exports slump, increasing pressure on the government to take steps to help businesses and consumers. The export-dependent nation has been battered by declining orders for electronics goods and pharmaceuticals from its biggest customers in the US and Europe, as well as emerging markets.

A severe economic slowdown in China is one of the biggest risks faced by the world this year, the World Economic Forum (WEF) has warned.

Taiwan's exports slumped by a record 41.9% in December on weaker demand from the US and China for laptops, mobile phones and computer chips.

Japan's industrial output took the largest drop in history in November over October, tumbling 8.1% -- nearly double the previous high of 4.3% in January 2001, according to a report from the Ministry of Economy, Trade and Industry. The huge disparity highlights how Japan's export-driven economy is faring against the decline of worldwide consumer demand.

China may follow its latest interest- rate cut with steps to spur consumer spending as deepening recessions in the U.S. and Europe pummel exports. The People's Bank of China yesterday lowered its one-year lending rate by 0.27 percentage point to 5.31% and the deposit rate by the same amount to 2.25%.

Oil prices fell another 2.3% to below US$39 a barrel on Tuesday as a raft of gloomy economic data reinforced expectations that world energy demand will shrink for the first time in 25 years.

The fall in exports suggests China's economy has deteriorated despite a massive stimulus package meant to boost growth by encouraging Chinese consumers to spend more. The trade decline is also a setback for foreign exporters who hoped China might help support global demand as the United States weakened.

Taiwan's exports in November fell $5US.09 billion, or 23.3 percent, to $16US.78 billion from a year earlier, the biggest drop since October 2001, the Ministry of Finance said Monday.

Chinese leaders are alarmed at a sharp drop in economic growth, which fell to 9 percent in the most recent quarter. That is the highest for any major economy, but below last year's 11.9 percent and dangerously slow for a government that needs robust growth to satisfy a public that has come to expect steadily rising incomes. "The global financial crisis has had a considerable impact on China's export growth, which will continue to show weakness with recession in the US and Europe," ...