Japan trade balance for March 2020, a big miss at +4.9bn yen
- expected Y 459.9bn, prior Y 110.8bn
Trade balance adjusted -190bn yen
- expected Y -115bn, prior Y 498.3bn
Exports much worse than expected at -11.7% y/y
- expected -9.4% y/y, prior -1.0%
- 16th consecutive y/y fall
Imports 'beat' at -5.0% y/y
- expected -8.7% y/y, prior -13.9%
Japan's March exports to the US are down 16.5% y/y
- to the EU -11.1%
- to China -8.7%
- to Asia -9.4%
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Even before the latest crisis Japan's exports were falling y/y:
