Japan’s exports slumped to probably its lowest figure in over 3-1/2 years in March, as the Covid-19 pandemic crushed demand in the United States and Europe.
The increasing consequences of the pandemic has added pressure to an economy already on the cusp of recession:finance ministry data is expected to show exports fell 10.1% in March from a year earlier after a 1.0% drop in February.
That would be the biggest drop since a 10.3% fall in October 2016, according to the ministry.
Imports are projected to fall 9.8% in March, after plunging 13.9% in February as supply chain disruptions in China hit Japanese manufacturers reliant on parts shipped from the country.