Japan's Gross Domestic Product, GDP has shrunk by 4.6% amid the coronavirus pandemic.

This is the largest shrink in the economy for the country since 1955. According to government statistics, Japan's GDP had previously shrunk by 3.6% during the depression of 2008.

The inevitable capitalist crisis has been caused across the world, this time, amid the coronavirus pandemic.

Japan's economy has shrunk by 5.1% between this year's January to March compared to the same period last year.

Japan's government has said that the shrink is due to the lockdown and other preventive measures used to tackle the ongoing global pandemic.

The government declared a state of emergency in the Tokyo metropolitan area in early January, following an increase in Kovid-19 infections since November last year. But before the ban was lifted in late March, Japan declared a state of emergency in 47 prefectures, including Tokyo.

During the emergency, people were allowed to stay indoors and restaurants and bars were reduced, opening up private consumption by 1.4 percent. 

The economy returned to normal during the October-December period when GDP fell sharply in the second quarter of 2020. During this period, both consumption and exports of Japan increased. 

According to some analysts, Japan's economy is expected to shrink in the current April-June period due to the declaration of a state of emergency. The vaccination rate of Kovid-19 in Japan is also lower than in developed countries.