Japan: Violent slump in Exports for the past ten years

Japan's exports slumped in the first half of the year due to the impact of the global Coronavirus pandemic, since more than ten years. As the government announ

Japan: Violent slump in Exports for the past ten years

Japan's exports slumped in the first half of the year due to the impact of the global Coronavirus pandemic, since more than ten years. As the government announced on Monday, reduced the exports of Germany's third-largest economy in the world between January and June compared to the same period in the prior year of 15.4 per cent to around 32.4 trillion Yen (261 billion euros).

This is the hardest break-in on a half-yearly basis for an export decline of 22.8 percent in the second half of the year in 2009 in the Wake of the global financial crisis. Background the sharp drop in demand Overseas for Japanese cars and other industrial goods because of the pandemic.

car export fell by almost a third

Alone, Japan's major auto export dropped in the reporting period by 30.9 per cent, it is clear from the preliminary data of the government. At car parts Japan had to cope with a decline of 29 percent year-on-year period.

Japan recorded in the first half of the year a trade deficit of 2.24 trillion Yen, the largest deficit since the second half of 2014. The imports of the country declined by 11.6 percent to 34.6 trillion Yen. It is the fourth half in a row that Japan was in the red in its balance of trade.

Updated Date: 20 July 2020, 01:19

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