Japan's Current Account surplus at 5-year low as exports plunge
|Due to plunging exports relative to imports Japan's current account surplus is barely positive. JapanToday reports Japan's Current Account Surplus Shrinks to 5-Year Low. Japan posted its smallest current account surplus in more than five years in June, Ministry of Finance data showed on Tuesday, mainly due to a slump in exports, highlighting the heavy hit to external demand from the coronavirus pandemic. There is little reason to expect a sudden sharp reversal. The above chart from the Census Department. As I have commented before, Trump's best chance to reduce trade deficits with the world was not tariffs but rather to have one hell of a recession. Congratulations?Exports plunge 25.7% from a year ago
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Japanese exports
US Trade in goods with Japan
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