Overseas economies have recovered on the whole, albeit with variation across countries and regions, with the impact of the COVID-19 waning gradually.
In advanced economies, resumption of economic activity continues as vaccination has progressed, while priority public health measures have been taken to respond specifically to the spread of the Omicron variant.
Emerging and commodity-exporting economies have generally picked up on the back of progress with vaccinations.
Against this background, a pick-up in Japan's economy has become evident.
Exports and production continue on an uptrend, albeit with the effects of supply-side constraints.
Japan's economy is likely to recover as the impact of COVID-19 and the effects of supply-side constraints gradually wane.
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