Japan’s chem exports fall 8.3% amid overall trade deficit in March

19 April 2012 04:44  [Source: ICIS news]

SINGAPORE (ICIS)--Japan’s chemical exports fell by 8.3% year on year to yen (Y) 595.3bn ($7.32bn) in March this year, as the country swung back to a trade deficit from a surplus a month earlier, the Ministry of Finance (MOF) said on Thursday.

The country’s exports of organic chemicals fell by 10.9% to Y173.2bn in March, while its overseas shipments of plastic materials fell by 5.9% to Y194.1bn, the ministry said in a statement on its website.

Its exports volumes of plastic materials fell by 6.6% year on year to 569,029 tonnes in March, the MOF said.

Japan posted a trade deficit of Y82.6bn in March, as its overall imports grew by 10.5% year on year to Y6,287bn and overall exports grew by a slower 5.9% at Y6,204bn, according to the ministry.

This reverses the trade surplus of Y33bn in February this year after four consecutive months of deficit.

Singapore-based DBS Group Research in a note: “The results in March trade data affirmed our view that trade deficit will persist in most months this year, with the recovery in exports largely offset by the synchronous rises in imports driven by strong demand on energy and capital goods imports.” 

($1 = Y81.27)

By: Nurluqman Suratman

AddThis Social Bookmark Button

For the latest chemical news, data and analysis that directly impacts your business sign up for a free trial to ICIS news - the breaking online news service for the global chemical industry.

Get the facts and analysis behind the headlines from our market leading weekly magazine: sign up to a free trial to ICIS Chemical Business.

Printer Friendly