Japan's container trade growth to be led by exports in 2017, index shows
JAPAN's container trade growth this year will be fuelled by exports of food and drinks and metal products, according to an index compiled by a subsidiary of third-party logistics provider Nippon Express.
Nittsu Research Institute and Consulting's (NRIC's) survey of 980 companies that form the "transport tankan," an index that measures container shipping activity, revealed that exports stood at 5 in the first fiscal quarter that covers the period between April and June, an improvement from the 3 recorded in the first quarter, reported IHS Media.
Imports came to -2, up from the -4 in the previous quarter. The index figures are representative of the percentage of Japanese companies for which imports or exports grew year on year, except those saying they declined.
With regards to exports, the April-to-June index for the food and beverage industry led the pack at 35, and the wood and furniture industry followed behind at 33. Metal products were at 28 and pulp and paper were at 26.
The top markets for Japanese exports were Asia, which at 7 was up from 4 in the prior quarter. The North American market also showed improvement, with -1, compared with -4 in the previous quarter. Europe was at -4 compared with -5.
As for containerised imports, metal products led the April-to-June index, with 13, followed by food and drink at 12. The paper and pulp industry took the lowest spot, at -43, NRIC said.
By market, imports from Asia stood at -2, up from -3 in the prior quarter, and North America was at -7 from -10, whereas Europe increased to -7 from -15 in the previous quarter.