Japan July chemical exports fall 8%; plastics shipments down 10%

22 August 2012 04:53  [Source: ICIS news]

Japan July chemical exports fall 8%; plastics shipments down 10%SINGAPORE (ICIS)--Japan’s chemical exports in July fell by 8.2% year on year to yen (Y) 513.7bn ($6.5bn), weighed by an overall decline in shipments to China and the debt-stricken eurozone, official data showed on Wednesday.

Its exports of organic chemicals were down by 6.1% year on year at Y133bn last month, while shipments of plastic materials fell by 9.7% to Y167.2bn, the Ministry of Finance (MOF) said in a statement.

Japan exported 474,197 tonnes of plastic materials in July, down by 8.2% from the previous corresponding period, it said.

The country’s overall exports fell by 8.1% year on year to Y5,313bn in July, while imports inched up by 2.1% to Y5,830bn, the MOF said.

Japan posted a trade deficit of Y517bn in July, a reversal of the Y69.7bn surplus recorded in the same month last year. In June 2012, the country recorded a trade surplus of Y62m.

Overall exports to the EU slumped by 25.1% year on year to Y502.3bn in July, while Japan’s shipments to its biggest market – China – fell by 11.9% to Y1,009bn, according to the MOF.

Total exports to Asia, which accounted for more than half of Japan's overall overseas shipments, fell by 9% year on year to Y2,956bn in July.

($1 = Y79.3)

By: Nurluqman Suratman

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