Japan sank into a trade deficit last month as exports dropped, especially to other Asian nations

Japan suffered a trade deficit last month as exports sank for the first time in two years and five months, dragged down by a slowdown overseas. The Finance Ministry says exports from the world’s third largest economy shrank most markedly for the rest of Asia, especially China. Exports recovered in autos and auto parts, as the social restrictions related to the COVID-19 pandemic, which had crimped production, eased gradually. But that was not enough to offset the drop in exports in computer chips, machinery and other manufactured goods. Imports fell in various sectors, including food, machinery and energy.