Japan posts Y549bn trade deficit in Oct, lower exports to China, EU

21 November 2012 02:38  [Source: ICIS news]

TOKYO (ICIS)--Japan posted a trade deficit of yen (Y) 549bn ($6.72bn) in October, partly because of a significant decrease in exports to China and the EU, official data from the Ministry of Finance (MOF) showed on Wednesday.

This is the fourth consecutive month that Japan recorded a deficit in trade, the data showed.

The country’s exports totalled Y5,150bn, a 6.5% decrease from the same period a year earlier, with the exports of mineral fuels declining by 31% year on year, according to the ministry.

Imports totalled Y5,699bn, down by 1.6% year on year, partly because the imports of nonferrous metals fell by 28%, the data showed.

Japan’s exports to China fell by 12% year on year to Y947.8bn in October. This is a decrease for the fifth consecutive month. Exports to the EU fell, for the 13th consecutive month, to Y508.8bn, down by 20% year on year, according to the MOF.

The country’s overall exports of organic chemicals fell by 1.3% year on year to Y158.7bn in October, while plastic exports fell by 1.3% to Y173.0bn, based on the official statistics.

($1 = Y81.74)

By: Tomomi Yokomura
+65 6780 4359

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