Recession-hit Japan’s exports plunged nearly 22 percent in April, the country’s worst drop in more than a decade as the coronavirus pandemic slammed global demand, AP news agency reported.
The Finance Ministry also said Thursday that imports fell 7 percent.
The drop in exports is the worst since the 2008 financial crisis, as export-dependent Japan struggles to juggle the health risks of COVID-19 with the dire need to keep the economy going.
Japan is in a technical recession after a contraction that began in the last quarter of last year deepened in the January-March quarter. Analysts say worse may be ahead, given the economic pain of the pandemic may be prolonged.
