In that sense, it can be said that the impact of the spread of COVID-19 is particularly notable in the face-to-face services industry. 1  C. Japan's Economy Turning to Japan, the economy has been on a recovery trend, led mainly by external demand, on the back of rapid economic recovery, particularly in the United States and China.
This trend is characterized by increases in demand in the machinery industry, where Japanese firms have a competitive advantage, and the IT sector, both reflecting the growing momentum toward a global expansion in business fixed investment. Looking at Japan's exports by type of goods, it can be confirmed that those of IT-related goods and capital goods have increased clearly of late (Chart 4).