Japan's Feb chems exports rise 10.4% as China shipments surge

24 March 2011 03:41  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s chemicals exports rose 10.4% year on year to yen (Y) Y611.5bn ($7.6bn) in February this year, as shipments to China surged, Ministry of Finance data showed on Thursday.

Exports of chemicals to China jumped 23.3% year on year to Y160.3bn as shipments to the whole of Asia rose 12.8% to Y460bn, the data showed.

Chemical shipments to the US rose 0.7% year on year to Y53.6bn, while exports to the EU slipped 2.2% to Y59.2bn, it showed.

Overall exports rose 9% year on year to Y5,588bn as exports to Asia, which accounts for more than half of Japan’s total exports, rose 12.3% from a year earlier, the data showed.

Total exports to China, Japan’s largest trading partner, rose 29.1% year on year to Y1,163bn, according to the data.

Japan’s trade balance posted a surplus of Y654.1bn in February as imports totalled Y4,934bn, the data showed.

In January, Japan logged its first trade deficit in 22 months as exports to China and other countries in Asia slowed sharply.

($1 = Y80.93)

By: Nurluqman Suratman

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