Due to the massive March 11 earthquake and other factors, Japan's exports in March fell by 2.2 percent year on year, the first year-on-year drop in 16 months, according to a report released by Japan's finance ministry on April 20. However, the decrease was smaller than had been anticipated.
Analysts have commented that the impact of the earthquake on the supply chain will lead to a further drop in Japan's exports. In March, Japan's exports totaled a value of JPY 5.866 trillion (about $70.85 billion). The finance ministry report also shows that Japan's exports of automobiles, motorcycles and ships dropped significantly year on year in March. Auto exports, for instance, fell by 28 percent.
In March, Japan exported JPY 828.7 billion ($10.027 billion) worth of goods to the US, down 3.4 percent year on year, JPY 681.3 billion ($8.244 billion) worth of goods to the EU, up 4.3 percent year on year, and JPY 3.3792 trillion ($40.888 billion) to Asian countries, roughly unchanged year on year.