Japan's chemical exports down 4.4% in June; posts trade surplus

25 July 2012 03:18  [Source: ICIS news]

JapanSINGAPORE (ICIS)--Japan’s exports of chemicals fell by 4.4% year on year to yen (Y) 526.7bn ($6.7bn) in June this year, as the country posted its first overall trade surplus in four months, data by the Ministry of Finance (MOF) showed on Wednesday.

The country’s overseas shipments of plastic materials fell by 5.7% year on year to Y176.2bn in June, as export volumes dipped by 2.6% to 493,794 tonnes, the MOF said.

Chemical exports to the EU fell by 12.7% year on year to Y45.3bn in June, while overseas shipments of chemicals to China slipped by 0.7% to Y126.7bn, it said.

Meanwhile, chemical exports to the US fell by 5.8% year on year to Y81.4bn, the ministry said.

Overall, Japan posted a Y61.7bn trade surplus in June, its first surplus in four months as imports fell for the first time in two-and-a-half years, according to MOF data.

Japan’s exports fell by 2.3% year on year to Y5,643.8bn in June due to a decrease in exports of mineral fuels and computer parts, the MOF said.

Its imports declined by 2.2% year on year to 5,582.2bn because the country purchased less non-ferrous metal and audio-visual equipment, the ministry said.

This resulted in a trade surplus of Y61.7bn, a 4.3% decrease from June 2011, it said.

Japan’s trade surplus with the US increased 43% to Y494.1bn, the data showed.

The country’s exports to the US rose by 15% year on year to Y989.3bn, partly owing to increased exports of car parts and heavy electrical machinery, according to the MOF.

The data also showed Japan’s trade deficit of Y3.9bn with the EU. The country recorded its first-ever trade deficit with the EU in May this year.

Additional reporting by Nurluqman Suratman

($1 = Y78.2)

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By: Tomomi Yokomura
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