Oct 14(LTIT) –The economy of Japan is a highly developed free-market economy. It is the third-largest in the world by nominal GDP and the fourth-largest by purchasing power parity (PPP). However, the Japanese economy has shrunk at its fastest rate on record as it battles the coronavirus pandemic, as the economy saw gross domestic product fall 7.8% in April-June’20 from the previous quarter or 27.8% on an annualised basis.

In contrary, the East Asian Island nation’s export of aluminium tubes and pipes reveals a good rise during 2018-20. The export during 2018-19 has been recorded at 4357 tonnes and the revenue generated on the export stood at $41.07 million. The projected export for 2020 has been analysed to reach at 4432 tonnes and earnings to remain at $42.81 million; when the export volume and earnings for the previous two years get assorted, it exhibits 8789 tonnes and $83.88 million respectively.

Japan’s export of aluminium tubes and pipes during 2018 stood at 1597 tonnes and the revenue generated from the export remained at $14.64 million, whereas in 2019, the export saw growth by 72.82%, as the export volume climbed to 2760 tonnes and earnings rose to $26.43 million.

The export for 2020 has been analysed with upswing by 60.57%, as the export volume is expected to surge and remain at 4432 tonnes and earnings also to grow and stand at $42.81 million.

Japan’s major trading nation for export of aluminium tubes and pipes are Argentina, Bangladesh, Brazil, Canada, China, Czech Rep., France, Germany, Indonesia, Italy, Mexico, Philippines, etc.