Japan’s chemical exports in April fell 6.3% year-on-year following the steepest decline in overall exports since the global financial crisis in 2009, as the coronavirus pandemic ravaged the external demand for the country’s products, according to data from Japan’s Ministry of Finance.
The data showed Japan’s chemical shipments totalled ¥742.9 billion ($6.90 billion) last month. Exports of plastic materials fell 1.0% to ¥211.6 billion ($1.96 billion). On a volume basis, the country’s chemical exports were down 9.6% from a year ago to 449,167 tons.
Japan’s total exports plunged 21.9% year-on-year to ¥5.20 trillion ($48.29 billion), while imports dropped 7.2% year-on-year to ¥6.13 trillion ($56.92 billion). Total exports to the US plunged 37.8%, while shipments to Asian and European markets slumped 11.4% and 30.4%, respectively. The world’s third-biggest economy recorded a trade deficit of ¥930.4 billion ($8.64 billion) in April.
