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Japan's exports in May post sharpest decline in 10 years

By Xinhuanet , 2020-06-19 06:22:47

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Japan's exports in May logged the steepest year-on-year decline in more than 10 years, as demand from overseas remained weak amid the coronavirus pandemic, the government said in a report on Wednesday.

According to the Finance Ministry, exports plunged 28.3 percent from a year earlier to 4.18 trillion yen (39 billion U.S. dollars), marking the sharpest fall since September 2009 and logging the 18th successive month of decline.

By country, exports to China, Japan's largest trading partner, dropped 1.9 percent, while those to the United States slumped 50.6 percent.

Those to the European Union, meanwhile, dropped 33.8 percent in the recording period, the ministry's preliminary figures showed.

Imports to Japan also logged the biggest decline in more than a decade, falling 26.2 percent to 5.02 trillion yen (46.7 billion U.S. dollars) in the recording period, the ministry added, marking the 13th straight month of decline.

Japan's goods trade deficit in May stood at 833.39 billion yen (7.7 billion U.S. dollars), with the figure in negative territory for a second straight month, the ministry said. Enditem

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