Japan's exports in February fell the 15th month in a row

Japan’s Exports in February showed a decline 15th month in a row, as shipments to the US and China has declined amid the outbreak of coronavirus.

Exports in February fell by 1% in annual terms, according to the Ministry of Finance of Japan. Economists polled by Reuters on average had forecast exports to fall by 4.3% in January after declining by 2,6%.

Shipments to Asia, which accounts for more than half of Japan’s exports in February increased by 1.7% in annual terms. The growth recorded for the first time in 16 months.

Exports to China, the biggest trading partner of Japan, fell by 0.4% in annual terms.

Exports from Japan to the United States declined for the seventh consecutive month by 2.6% yoy.

Total imports of Japan in February fell by 14% yoy amid a sharp decline in imports from China. Analysts had expected a decline of 14.4%.

Imports from China fell by 47.1% in annual terms, the biggest decline since August 1986, after the outbreak of the coronavirus led to the suspension of production in the second largest economy in the world.

the trade Surplus of Japan in February amounted to 1.11 trillion yen (10,34 billion) instead of the expected 917,2 billion yen. The surplus was the highest since September 2007.

the Data reflect the external pressure on the third largest economy in the world. In the fourth quarter of 2019, the Japanese economy showed the highest decline in nearly six years.

the Outbreak COVID-19, have violated the business activity, a threat of a technical recession in Japan.