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.
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)
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