It is said to be the biggest decline since the 2011 incidents, like earthquake and tsunami has occurred in Japan. As per reports, it has been found that Japanese exports dropped by 10.3%. Experts were of the view that there can be a number of reasons for which such a decline has been witnessed.
While talking about some of the many reasons, it was being revealed that dispute with China and financial crisis taking place in the world may have added fire to the fuel. In another data, it has been found that manufacturer's suffered maximum loss in October.
If things persisted in the same manner then there are probable chances that Japan may witness recession. Experts said that a drop by 10/3% is not a small thing and decline in the demand from China and Europe, are taking things to a different tangent.
In a recently revealed data from the side of Finance Ministry, it has found that exports of cars, ships and other electronics have also reduced. It seems that things are get devastating for the country from all the levels.
"Exports will likely fall even further, and the trade deficit will grow in October as the impact from the boycotting of Japanese products will play out more clearly", said Naoki Iizuka, an economist.
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