TOKYO – Japan’s exports sank 28% in May, while imports dropped 26% as the coronavirus pandemic slammed global trade.
The provisional Ministry of Finance data, released Wednesday, showed May was the second straight month Japan recorded a trade deficit.
Japan has historically been criticized for racking up a huge trade surplus, not buying enough from the countries flooded with its products.
Data show April last year is the last month in which both imports and exports weren’t negative, showing how exports and imports have been falling for more than a year.