Japan’s exports keep falling

According to statistics, in the month of July the Japanese country reached a value of almost 45,000 million dollars, which represents a year-on-year fall of 19.2%

Exports from Japan reached a value of almost 45,000 million dollars last July, which represents a year-on-year fall of 19.2%, as a consequence of the sharp decline in sales to the United States (-19.5%) and Western Europe (-32.5%), despite the lifting of restrictions applied during the previous months to contain the Covid-19 pandemic.

According to data published by the Ministry of Finance of Japan, with the fall in May, the exports of the Japanese country have already accumulated 20 consecutive months of decline, with five consecutive months of double-digit falls, which represents the worst evolution of Japanese exports since 1987, in an economic context marked by the impact of the coronavirus.

Japan’s bad trade data comes just days after the Japanese government reported that the third world economy suffered an unprecedented contraction between April and June, registering a 7.8% drop in gross domestic product (GDP) compared to the first quarter of the year, when it had fallen by 0.6%, which represents the greatest loss of activity in the entire historical series, dating back to 1980.

In this way, Japan extends the recession to three consecutive quarters, after registering a 0.6% contraction in the first three months of 2020 and a 1.8% decline in the last quarter of 2019.

K. Tovar

Source: dpa

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