Japan’s Exports Shrank By More Than 26 Percent in June Due to the Corona Crisis
Japan’s exports shrank by more than 26 percent in June compared to a year earlier due to the corona crisis.
As a result, the country’s exports have fallen by more than 20 percent for three months in a row because of the crisis, and there is less foreign demand for Japanese-made products such as cars, auto parts, machinery and other goods.
In May, exports of the world’s third economy fell by more than 28 percent. Japanese imports shrank by more than 14 percent last month, after dropping by more than 26 percent a month earlier.
Due to the crisis and economic weakness in Japan, there is also less demand in the country for goods and products from abroad.
Economists think the trough in Japanese trade may be behind us as more and more important trading partners such as the United States and the European Union have eased lockdown measures.