Categories: Business

Japan's exports down 19.2 percent between Covid-19, economy weakens

Photo: KANCO

Japan's exports plunge 19.2 percent in July due to COVID-19

Tokyo The impact of the corona virus epidemic is also seen on exports to Japan, the world's third largest economy. Japan's exports in July declined by 19.2 percent compared to exports in the same month a year earlier.

According to preliminary data from the Finance Ministry, Japan's imports in July 2020 also declined by 22.3 percent. Exports from Japan to the US have notably declined. Exports from Japan to the US declined by 19.5 percent in July. These include plastic goods, iron and steel, and computer parts. However, with the improvement in economic activity in China, Japan has achieved a trade surplus for the first time in the last four months.

Japan's export-based economy has weakened since the spread of the corona virus epidemic. Because of this, production has stalled in some factories. Tourism has suffered, which has weakened economic activity. In Japan there was never a complete lockdown, but people were encouraged to work from home, wear masks and distance themselves on a social scale.

Some stores have cut their hours of operation. There have been 57,636 cases of Corona virus infection in Japan so far, in which 1,100 people have died. Concern has increased recently due to increasing cases of infection.

This post was published on August 19, 2020 1:59 pm

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