Japan's Exports

Japan's exports are still incredibly weak: March data is out now, and there is no sign of improvement: Total exports are down 46 % from last year, similar to the drops seen in Jan and Feb.

Worst-hit are cars and electronics, but every major sector is down sharply. The collapse extends to just about every destination country: UK -61%, US -51 %, Germany -48 %, China -32 %, to name just a few major markets.

Imports are also down sharply (-37 %).

But I suppose people can see positive signs even in the worst data. The BBC quotes a Japanese economist as saying:

"The worst of the decline in exports may be over, and there are some positives to take from this data. Exports to China are falling at a slower pace and may improve further due to the Chinese government's stimulus package." Interpreting a 32 % year-on-year drop of exports to China as a positive sign - that's certainly what I would call a "positive attitude"...