Japan exports fall amid slow recovery from pandemic downturn

Business

Japan exports fall amid slow recovery from pandemic downturn

Wednesday, October 21, 2020

Print this page Email A Friend!


TOKYO, Japan (AP) — Japan's exports fell at a slower pace in September in a sign that trade damage from the coronavirus pandemic is easing, according to Finance Ministry data released yesterday.

The report showed Japan's exports in September declined 4.9 per cent, better than the nearly 15 per cent drop in August. The nation's imports fell 17.2 per cent overall, compared with 20.8 per cent in August.

Exports to China jumped 14 per cent while shipments to the US inched up 0.7 per cent, in another possible sign of a gradual rebound. By sector, computer exports to the world surged nearly 45 per cent.

Japan's export-reliant economy has sunk into recession, with three straight quarters of contraction through June, as the outbreak slammed business activity and stifled trade.

But a recovery in China, where COVID-19 emerged late last year, and recoveries in some other Asian countries are helping Japan regain momentum.

Junichi Makino, analyst at SMBC Nikko Securities, noted that auto exports were recovering as global economies rebounded, especially in Europe. He said exports overall had recovered nearly to what it had been before the pandemic.

The ministry data showed transportation equipment in general, including vehicles, motorcycles and planes, was still declining, down seven per cent compared to a year ago.

Prime Minister Yoshihide Suga, who took office a month ago, left Sunday for Vietnam and Indonesia, where virus cases are relatively low, to drum up business and trade.

His predecessor, Shinzo Abe, had tried to sustain economic growth with his “Abenomics” package of programmes based on zero interest rates and curtailing deflation.

Suga, also from the governing Liberal Democratic Party, is expected to continue those policies.


Now you can read the Jamaica Observer ePaper anytime, anywhere. The Jamaica Observer ePaper is available to you at home or at work, and is the same edition as the printed copy available at http://bit.ly/epaper-login


ADVERTISEMENT




POST A COMMENT

HOUSE RULES

1. We welcome reader comments on the top stories of the day. Some comments may be republished on the website or in the newspaper � email addresses will not be published.

2. Please understand that comments are moderated and it is not always possible to publish all that have been submitted. We will, however, try to publish comments that are representative of all received.

3. We ask that comments are civil and free of libellous or hateful material. Also please stick to the topic under discussion.

4. Please do not write in block capitals since this makes your comment hard to read.

5. Please don't use the comments to advertise. However, our advertising department can be more than accommodating if emailed: advertising@jamaicaobserver.com.

6. If readers wish to report offensive comments, suggest a correction or share a story then please email: community@jamaicaobserver.com.

7. Lastly, read our Terms and Conditions and Privacy Policy



comments powered by Disqus
ADVERTISEMENT

Poll

ADVERTISEMENT
ADVERTISEMENT

Today's Cartoon

Click image to view full size editorial cartoon
ADVERTISEMENT