Japan’s export inactivity brings threat of longer economic slump at home and overseas

20.07.2020 - Korneychuk Evgeniya
Japan’s export inactivity brings threat of longer economic slump at home and overseas

June had seen Japan’s exports recording a double-digit decline for four consecutive months. This suggests that the novel coronavirus pandemic tipped the world’s third-largest economy into its sharpest postwar slump, highlighting the possibility of a long and sharp global contraction.

The country’s exports dropped 26.2% in June from a year ago, data from the Ministry of Finance showed on Monday. The reading came sharper than the 24.9% decline predicted by economists in a Reuters survey. However, this placed milder than the 28.3% drop monitored in May- the sharpest decline since September 2009.

Worldwide demand for cars and other durable products has dropped since March as the virus crisis prompted many countries to implement lockdowns. Though more countries have resumed their economic operations, the trade data could drag optimism for a quick recovery in demand and in Japan’s export-reliant economy.

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.net 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?