Japanese exports fell by more than 20% for a third straight month even as key markets started to reopen from virus shutdowns.
The value of Japan’s overall shipments overseas slid 26.2% in June from a year earlier, led by steep declines in exports of cars and auto parts, the finance ministry reported Monday. Economists forecast a 24.7% fall.
Although exports continued to be down sharply compared with the previous year, there were signs declines may have bottomed. Car exports halved in June compared with falls of around two-thirds in May. Overall drops in exports to the U.S. and the EU were about 4-5 percentage points less than in the prior month.
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