Trade and Travel Restrictions: Japan

Constantly updated information about the situation in Japan with focus on the general situation, movement of goods and movement of people.
 

overview

A quick overview of the affected areas. Please find more detailed information below.

General Situation

General Situation

DESCRIPTION OF THE CURRENT SITUATION

State of emergency still valid in all Prefectures. State of emergency lifted in all the Country as of May 25th ,2020
https://www.eda.admin.ch/countries/japan/en/home/news/news.html/content/countries/japan/en/meta/news/2020/4/emergency

 

GOVERNMENT MEASURES

With regards to private sector support during the ongoing pandemic, there have been four economic assistance programs announced, with the latest of about USD 312 billion voted into law on June 12th.  Prime Minister Yoshihide Suga has ordered relevant ministries and agencies to draft a new supplemental budget to be debated at ordinary Diet session expected to begin in January 2021.

ECONOMIC OUTLOOK (ECONOMIC DEVELOPMENT, EFFECTS ON INDUSTRIES)

  • Bank of Japan: Japan’s GDP projected to shrink 5.5% in fiscal 2020, grow 3.6% in 2021.
    https://www.boj.or.jp/en/mopo/outlook/gor2010a.pdf  (page 8)
  • Cabinet Office estimates national GDP to shrink 4.5% in fiscal 2020, grow 3.4% in 2021
    https://www5.cao.go.jp/keizai1/outlook-e.html
  • As of 17 August, a Nikkei compilation of 1,703 companies showed that April to June 2020 quarter saw net profit fall 57% from the same quarter in 2019.  This is the seventh consecutive quarter where net profit was below the same respective quarter from the year before; 

Sources: Nikkei story 17 August 2020

https://www.nikkei.com/articl/DGXMZO62705180X10C20A8DTA000/

Movement of goods

Movement of goods

  • Monthly exports declined 4.9% y/y to 6.55 trillion yen in September while imports declined 17.2% to 5.38 trillion yen, the third consecutive monthly trade surplus; exports declined y/y for 22 consecutive months;

    - Japanese exports to Switzerland jumped 37.2% y/y to 72.4 billion yen while imports from Switzerland fell 18.1% to 62.9 billion yen;
    - Exports to European Union fell 10.6% to 554.1 billion, with Japanese imports from the EU fell 14.2% to 670.9 billion yen.
     
  • •    Exports during the first half of fiscal 2020 (April to September 2020) declined 19.2% to 30.9 trillion yen while imports in the same 6-month period declined 18.1% to 32 trillion yen;

    - Japanese exports to Switzerland in the same period rose 16% y/y to 267.8 billion yen while imports from Switzerland fell 19.5% y/y to 358.6 billion yen;
    - Exports to the EU for the April to September period fell 25% y/y to 2.75 trillion yen while imports from the EU fell 16.3% y/y to 3.74 trillion yen.

Source: Finance Ministry release on 19 August 2020

Movement of people

Movement of people

RESTRICTIONS ON ENTRY FROM SWITZERLAND

  • Entry ban to Japan for visitors arriving from Switzerland. The pressure to the Japanese Government to relax the restrictions is growing but for now there are no tangible signs of major changes.

 

RESTRICTIONS ON MOBILITY WITHIN THE COUNTRY

  • Inter-prefectures travel not forbidden. Travel out/to Tokyo to/from other Prefectures is discouraged.

 

 

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