'Zoom boom' helps boost Japanese exports

Industry News | | MIC Customs Solutions |

Global demand for electronics and telecommunication equipment has helped Japan's economy climb out of recession, new figures have shown.


Higher demand for electronics equipment around the world has helped the Japanese economy climb out of recession in the third quarter of 2020, with improved trade volumes with the US and China helping contribute to solid performance.

The country's high-tech manufacturing sector had been badly hit earlier in the year, but the country is now well-placed to boost its exports in response to growing interest from across the world for products to assist with home and remote working.

Display screens, laptops and telecommunication equipment are in especially high demand in order to help homeworkers keep in touch, something that Rory Green, economist at research firm TS Lombard, described to the BBC as the "Zoom boom".

This is a trend Japan is particularly well-equipped to take advantage of, while the exports of these goods within the wider Asia-Pacific region may be boosted by the signing of the 15-nation Regional Comprehensive Economic Partnership this week.

Japan saw its gross domestic product increase by five per cent in the third quarter of 2020, compared with a dip of 8.2 per cent for the previous three-month period, which was the worst quarterly performance on record.