The Decline in Japan Exports Cannot Be Prevented

The Decline in Japan Exports Cannot Be Prevented

The global economy has been adversely affected by the coronavirus outbreak. This situation affected the trade of countries the most. In this context, the decline in Japanese exports cannot be prevented. The country's exports in July dropped by 19.2 percent on a monthly basis. Japan exports, which started to decline after the coronavirus outbreak, continued its negative course in July. Despite the recovery in shipments to China, it declined with the lowest margin in the last 4 months, as it softened the contraction in shipments to Europe and other countries where the spread rate of the epidemic was high. Exports fell 19.2 percent from the previous year, according to data released Wednesday by the Japanese Ministry of Finance. Economists surveyed in Bloomberg had a decline estimate of 20.9 percent. According to another report, it was noted that machinery orders decreased by 7.6 percent in July compared to the previous month. Bloomberg economists stated that they expect exports will continue to recover in the third quarter, while imports will remain at roughly the same levels.