Japan : economic indicators and trade with EU

Abstract

The economies of Japan and of the EU followed similar trends in 2020, a year marked by the Covid-19 pandemic. Both economies faced shrinking GDP, growing unemployment, rising public debt, while inflation stayed moderate and the exchange rate remained stable. Although there was a fallback in trade between the two blocks, the EU ranked as third on the list of top trade partners of Japan (trade in goods), while the latter was the seventh biggest trade partner of the EU. Mechanical appliances and electrical equipment constitute the main export and import products, followed by vehicles and aircraft.