MNI DATA IMPACT: Japan Mar Exports Worsened, Imports Improved

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

March due the global pandemic disruptions while imports posted a marginal

improvement, data released by the Ministry of Finance showed Monday.

     The key points from the data:

     --Japan's exports plunged 11.7% y/y in March, well down from the previous

1.1% y/y drop for a 16th straight monthly fall. The decrease was also larger

than the MNI median forecast, which projected a 9.8% y/y drop.

     --Imports fell 5.0% y/y in March, following the 14.0% y/y slump recorded

last month, marking the 11th consecutive monthly fall. MNI's survey pointed to a

9.6% y/y fall. 

     --March's trade balance reported a Y4.95 billion surplus. This is much

smaller than the Y1.11 trillion surplus recorded last month and the expected

Y419.7 billion projected by MNI.

     --Exports to all three major trading partners declined - China -8.7% y/y,

the United States -16.5% y/y and the European Union -11.1% y/y, compared with

last month's respective falls of  -0.4% y/y, -2.6% y/y, and -7.7% y/y. 

     --Imports from China and the European Union decreased 4.5% y/y and 9.7%

y/y, after dropping 47.1% y/y and 8.2% y/y last month. Imports from the EU edged

up 1.3% y/y from previous 5.9% 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

[TOPICS: MAJDS$,MAUDR$,MAUDS$,M$A$$$,M$J$$$,M$U$$$]