Japan’s exports fall most since 2009 as US demand slumps

Japan’s exports fall most since 2009 as US demand slumps

Japan's exports fall most since 2009 as US demand slumps /node/1691001/business-economy. Weak global appetite for cars and slowing business spending could drag on Japan's export-led economy, as China-bound trade remains weak, dashing hopes mainland demand could offset the weakness seen in other major trading partners.. Official data out on Wednesday showed Japan's exports fell 28.3 percent in the year to May, the largest slump since September 2009.. Exports to China, Japan's largest trading partner, fell 1.9 percent in the year to May, due to declines in chemical raw materials, cars and chip-making equipment.. Shipments to Asia, which account for more than half of Japanese exports, declined 12 percent, and exports to the European Union also fell 33.8 percent.. The Bank of Japan on Tuesday increased its support through lending schemes for struggling businesses to $1 trillion, which follows the government's $2.2 trillion in fiscal packages to rescue the economy.. RIYADH: The Saudi Industrial Development Fund (SIDF) has launched a SR3.7 billion ($1 billion) stimulus plan to support industrial projects affected by the coronavirus pandemic.. The industrial fund will also offer loans to finance the purchase of raw materials for pharmaceutical and medical supplies companies for up to six months..