Developments in Japan's Economy Next, I will talk about developments in Japan's economy. Although the economy has remained in a severe situation due to the impact of COVID-19, it has picked up as a trend from the bottom hit in the April-May period last year, when a wide range of economic activities were constrained.
The impact has been relatively small on production and transactions of goods, whereas it has been large on face-to-face services. Such unevenness is becoming much more evident recently. With these factors in mind, let me explain each component in some detail. Exports and production have continued to increase since goods transactions, including trade activity, have picked up at a relatively rapid pace (Chart 2).