Japanese Ministry of Finance on the 20th, the data show that, following the April exports fell 12.4 percent in May, exports fell 10.3 percent. Previously obtained by Bloomberg News survey of 25 economist estimates fell 8.4 percent. In addition, the trade deficit with Japan in May to 853.7 billion yen trade deficit for the second consecutive month. May record trade deficits after in 2009, the record of 967.9 billion yen.
Japanese Economy and Finance Minister Kaoru Yosano said on the 20th Japanese enterprises to resume production speed may be faster than expected, and that the European sovereign debt problem is the source of the uncertainty of Japan's exports. Yosano also pointed out that the trade deficit is a serious problem facing Japan need to observe that this is temporary or structural problem.
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Pacific Investment Management Company in Japan, senior fund manager integrity know Zai said on the 20th earthquake in Japan is not a substantial increase in Japanese government bond default risk, because its current account balance of payments is likely to remain a surplus state Moreover, when necessary, the Bank of Japan also issued currency debt. Integrity is understood that said, "Before the earthquake, the Japanese corporate bonds overall attractive. After the earthquake, the increase in the spread between Japan and other countries to create investment opportunities.
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Today, politicians and central bankers are concerned about the U.S. economic slowdown, the European sovereign debt crisis, as well as instability in the Middle East. This is expected to benefit from hedging, yen. Last week, the yen-dollar exchange rate rose 0.34%; the yen against the euro rose 0.63 percent.
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"Although the recovery of production has become increasingly obvious, but in view of overseas slowdown in economic growth is still difficult to predict whether the Japanese economy can long-term growth," the chief economist at RBS Securities in Tokyo, Junko Nishioka before the report pointed out that "later this year, the possibility of V-shaped recovery seems weak.
However, the Government of Japan on the 20th June, the monthly economic report, the assessment of the overall economic situation from the "weakening" to "see in the still grim environment on the action to the". This is the Japanese government raised the overall judgment of the economic situation in four slightly wounded. The report also to the future of Europe and the United States and emerging market countries, the economic slowdown as a risk, and 28 slightly wounded downward trend of overseas economic judgment.
In addition, the rise of the yen is considered an important factor for Japanese exports fell. Cabinet Office announced on June 9, Japan's gross domestic product (GDP) shrinking by 3.5% in the first quarter World Pipe network informed. Toyota and Honda, said net profit may fall, because the rising yen and earthquakes lead to the production affected. The two companies say, it may shift production out of Japan.
overseas media analysts believe that Japan is falling into the third recession in 10 years, but the yen continue to rise is expected World Pipe network informed. Three months ago, the earthquake and tsunami in Japan's worst nuclear disaster in 25 years, the market speculated that the insurance company may repatriate assets for earthquake and tsunami disaster Payout. This prediction gave impetus to the yen a week surged 8.5 percent.
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Trade Statistics rapidJapan's Finance Ministry announced on June 20, after the earthquake, cars and other exports continue to be substantially reduced, in May the huge trade deficit, a record monthly trade deficit since statistics record high. Japanese government officials said the same day, and exports have slowed because of the deterioration of the debt crisis in Europe.