Japan exports hit sharpest drop since 2009 as pandemic drags global demand

Japan exports hit sharpest drop since 2009 as pandemic drags global demand

April records showed that Japan’s exports dropped the sharpest since the 2009 financial crisis. Exports declined as the coronavirus pandemic ravaged worldwide demand for cars, industrial materials, and other products, pushing the world’s third-biggest economy further into recession.

Year-on-year records from the Ministry of Finance showed that the country’s exports declined 21.9% in April. The downturn followed as U.S.-bound exports fell 37.8% while car parts demand dropped by 65.8%.

Though the weak figures came out sharper than the historic drop back in 2009, it still placed lower than the 22.7% outlook forecasted by economists.

The frail reading followed as authorities weighed options between the urgent need to contain the virus and salvage the struggling parts of the economy, with the threat of a second wave of infections only adding to the economic challenge that the country currently faces.

Risk disclaimer "PROMETHEUS LTD – Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Republic of the Marshall Islands MH96960 is a financial services institution outside the European Union Area, which is subject to the supervision of the IFMRRC Certificate 0395 AA V0155 Trading in Forex/ CFDs and Other Derivatives is highly speculative and carries a high level of risk. It is possible to lose all your capital. 70% of trading deals can be unprofitable. These products may not be suitable for everyone and you should ensure that you understand the risks involved. Seek independent advice if necessary. Speculate only with funds that you can afford to lose. This Website may contain information in particular regarding financial services and products that could be regarded b a E.U. supervisory authority as an offer of financial services targeted in Europe. ESMA intervention measures do not apply to customers of PROMETHEUS LTD and it is your responsibility to choose a company which is most suitable for your trading needs. By clicking continue you confirm that you have read, understood and agree to the risk disclosures, terms of service, cash policies, privacy policies and this notice and that you are visiting this website on your own initiative, without any encouragement whatsoever from umarkets.ai or PROMETHEUS LTD." Cookies notification: We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we assume that you are happy with it. Read more. Continue

Help with deposit?