MNI DATA IMPACT: Japan Apr Exports Worsen, 1st Deficit In 3m

     TOKYO (MNI) - Japan's export performance continued its rapid decline in

April due the global pandemic disruptions while imports from some major partners

posted a marginal improvement, according to data released by the Ministry of

Finance on Thursday.

     The key points from the data:

     --Japan's exports plunged by -21.9% y/y in April, faster than the previous

-11.7% y/y drop for a 17th straight monthly fall. The decrease was lower than

the MNI median forecast, which projected a -23.1% y/y drop.

     --Imports fell -7.2% y/y in April, following the -5.0% y/y decline recorded

last month, marking the 12th consecutive monthly fall. MNI's survey pointed to a

-12.8% y/y fall. 

     --April's trade balance was the first deficit in three months at Y930.4

billion, compared with the Y4.95 billion surplus in March. MNI had projected a

Y510.0 billion deficit.

     --Exports to the United States and the European Union dropped -37.8% y/y

and -28.0% y/y respectively, sharply lower than last month's -16.5% y/y and

-11.1% y/y. Exports to China fell -4.1% y/y, slower than the -8.7% y/y drop

recorded in March. 

     --Imports from China and the United States registered 11.7% y/y and 1.6%

y/y gains, up from previous -4.5% y/y fall and 1.3% y/y gain. Imports from the

European Union decreased -6.8% y/y, also improving from the previous -9.7% y/y

fall.

--MNI Beijing Bureau; tel: +86 (10) 8532-5998; email: flora.guo@marketnews.com

--MNI Sydney Bureau; +61 405322399; email: lachlan.colquhoun.ext@marketnews.com

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