Oil Refinery Japan posted its biggest October trade deficit on record, as a revival in exports to the U.S. and China was overwhelmed by the nation’s soaring costs for imported fuel in the wake of the nuclear industry’s shutdown. The shortfall of 1.09 trillion yen ($10.9 billion) extended a record run of deficits to 16 months, and was larger than all 28 forecasts in a Bloomberg News survey, a finance ministry report showed today in Tokyo . Imports (JNTBIMPY) climbed 26.1 percent from a year earlier, while exports gained 18.6 percent. The yen’s slide has helped boost profit forecasts and pushed up stock prices of exporters such as Toyota Motor Corp, while at the same time raising the cost of imports. The deficits are likely to continue and may drag on growth in the world’s third-largest economy, according to economist Norio Miyagawa . “Exports are rebounding on a pick-up […]