Due to the tsunami and several earthquakes that Japan suffered in past March, the value of exports from this country fell for the first time in 16 months. Shoei Utsuda turn, Chairman of the Board of Foreign Trade of Japan, said in a press conference that while the decline registered last is unprecedented, the situation could worsen in April.
The value of exports fell by 2.2% in annual terms last month and stood at $ 70,800 million, the first decline in 16 months.
On the other hand, according to a preliminary report of the Japanese Ministry of Finance, imports grew by 11.9% compared to February, accumulating 15 months of increase.
The automotive industry was one of the most affected. According to the report exports fell by 27.2% in USA, 26.2% in China, and 23.4% to Asia.