摘要：Japan's exports have lacked momentum since the Lehman shock. In this paper, we examine exporttrends for the period by breaking them down into "global trade volume" and "Japan's share." Thisanalysis finds: (1) in addition to sluggish growth for global trading activities, (2) there has been a seculardecline in competitiveness in IT-related fields, (3) global fixed investment demand has been weak, and(4) overseas production has accelerated, accompanied by increases in local procurement, particularlyin the automobile sector. These factors including structural ones have interacted with each other anddepressed exports with other changes. It should be noted, however, that at the current point in timeglobal trade volume is enjoying moderate growth, and the environment surrounding Japan's exports isgradually improving, specifically, (1) global demand for capital goods has turned upwards, particularly inthe United States, and (2) the depreciation of the yen that began at the end of 2012 has improved pricecompetitiveness in various fields including IT-related sectors. In this situation, Japan's exports arepicking up
