Covid-19 epidemic: Japanese exports plunge

Text by: RFI Follow

In April 2020, Japan recorded the biggest drop in exports since the financial crisis of 2009. They plummeted by almost 22% (21.9%) to 44 billion euros. In April, Japan's main trading partners, the United States and Europe, were in containment. Japanese exporters do not expect any improvement in trade before the end of the year.

Publicity

With our correspondent in Tokyo , Frédéric Charles

Japanese companies fear a slow recovery in the global economy and a long pandemic. Their exports should continue to fall sharply in the coming months. 

In April, they collapsed 38% to the United States, 30% to Europe. The only glimmer of hope is China. The decline in sales of Japanese goods to the Chinese giant is slowing. 

Sony has been forced to halt production at several factories due to restrictions in most countries to curb the spread of the virus. Toyota expects an 80% drop in operating profit for the current fiscal year. 

The hardening of the trade war between the United States and China does not help. Japanese exporters are slowing their investments. The global economy will continue to slow considerably, warns Japanese Economy Minister Yasutoshi Nishimura.

► Read also : Coronavirus: Japan enters recession

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• Japan
• Trade and Exchanges
• Coronavirus