Japan's May exports, imports log biggest year-on-year fall in decade

Japan's exports and imports in May both posted the largest year-on-year drops in more than 10 years, reflecting rapidly weakened domestic and overseas demand as the coronavirus pandemic continued to slow economic activities globally, government data showed Wednesday.Exports plunged 28.3 percent from a year earlier to 4.18 trillion yen ($39 billion), the sharpest drop since a 30.6 percent decline in September 2009 in the wake of the global financial crisis, according to a preliminary report by the Finance Ministry. Exports were down for the 18th consecutive month.By item, car exports decreas…READ FULL ARTICLE