TOKYO — Japanese exports fell 21.9% in April, marking their biggest dive in over ten years as the new coronavirus weighed on economic activity, especially the auto industry.
Data released by the Ministry of Finance on Thursday revealed that Japan’s exports fell to 5.2 trillion yen ($48 billion) from a year earlier — the biggest decline since the October 2009 Lehman shock.
The decrease followed an 11.7% drop in March.
The auto sector was hit hardest, with car exports cratering over 50% as shipments declined globally, including those to the U.S. and Asia. Exports of auto parts also fell 39.2%.