Japan: Exports fall at fastest pace in over a decade in April
May 21, 2020
Yen-denominated merchandise exports dropped 21.9% year-on-year in April after falling 11.7% in March, largely due to lower machinery and transport equipment shipments as foreign demand evaporated. The reading marked the sharpest decline since October 2009. Imports fell 7.2% in April, after falling 5.0% in March.
The merchandise trade balance was negative JPY 0.9 trillion in April, contrasting the neutral reading in March and the JPY 0.1 trillion surplus in April 2019. The 12-month trailing trade deficit widened to JPY 2.3 trillion in April from JPY 1.3 trillion in March.
Author: Edward Gardner, Economist