Japan trade deficit widens to Y558.6bn in Sept, exports down 10%

22 October 2012 06:37  [Source: ICIS news]

TOKYO (ICIS)--Japan trade deficit widened to yen (Y) 558.6bn ($7bn) in September 2012, reversing from a surplus of Y288.8bn in the corresponding period a year earlier, due largely to declined car exports to China, official data from the Ministry of Finance (MOF) showed on Monday.

The country recorded the third consecutive month of trade deficit, with overall exports totaling Y5,359.8bn in September, a 10% year-on-year decrease, while imports increased by 4.1% to Y5,918.3bn, according to the MOF.

Automobile exports to China plummeted by 45% to Y34.7bn in September from the same time a year earlier, while total exports to the country declined by 14% to Y953.8bn, the data showed.

Some Japanese car producers and chemical makers temporary halted factory operations in China in September, due to anti-Japan protests.

Meanwhile, Japan’s overall exports of organic chemicals totaled Y146.9bn, a 0.6% year on year decrease, while plastic exports fell by 1.6% to Y174.1bn, according to the MOF.

The country also posted a trade deficit of Y3,219.0bn from April-September 2012, its worst first-half figure since record started in 1979, reflecting decreased exports of semiconductor parts and marine vessels, according to the ministry.

This was a third consecutive first-half period of trade deficit, the official data showed.

Japan’s overall exports totaled Y32,160.3bn from April-September 2012, a 2% year on year decrease, while exports rose by 2.6% to Y35,379.3bn from the year before, the data showed.

($1 = Y79.56)

By: Tomomi Yokomura
+65 6780 4359

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