Japanese exports to the world decline sharply regardless of US gains
JAPANESE exports to the United States increased for the ninth consecutive month in July by 4.5 per cent to US$11.78 billion while its imports from the US grew by 7.6 per cent to US$6.46 billion. The increase of exports to the US were led by motor vehicles (14.1 per cent), construction and mining machinery (55.2 per cent) and heavy electrical machinery (42.5 per cent) by value.
Saturday, 01.Sep.2012, 00:02 (GMT+3)
A worker makes a final inspection of Honda Motor Co. Odyssey vehicles at the production line of the company's Saitama plant in Saitama prefecture, Japan.
JAPANESE exports to the United States increased for the ninth consecutive month in July by 4.5 per cent to US$11.78 billion while its imports from the US grew by 7.6 per cent to US$6.46 billion.
The increase of exports to the US were led by motor vehicles (14.1 per cent), construction and mining machinery (55.2 per cent) and heavy electrical machinery (42.5 per cent) by value.
The export surge increased its trade surplus with US, its second-largest trading partner after China, for the sixth consecutive month widening by 1.4 per cent to $5.32 billion.
During July, Japan's trade to the rest of the world weakened by 8.1 per cent to $67.00 billion for the second consecutive month.
Imports overall rose for the first time in two months, increasing 2.1 per cent to $73.53 billion.
The weakening demand for Japan's products was down to slowing global economy with largest declines to European Union at 25.1 per cent and China's 11.9 per cent decline with overall pace in decline of exports quickening in July month on month.
Import surge is attributed to LNG demand, an alternative to atomic power since the nuclear power plant crisis in Fukushima starting off the earthquake and tsunami. Other imports from the US saw a huge increase in aircraft at 447.6 per cent, medical products by 17.4 per cent and audiovisual equipment at 104.2 per cent by value.