Japan’s chem exports rises 3.9% in September; overall up 6.9%

SINGAPORE (ICIS)–Japan’s overall chemicals exports rose by 3.9% year on year to yen (Y) 633.3bn ($5.93bn) in September this year, tracking the overall rise in shipments abroad, amid a weakening of its currency, official data showed on Wednesday.

The country’s exports of organic chemicals fell by 4.7% year on year to Y194.3bn, while shipments of plastic materials was up by 5.2% at Y197.1bn, the Ministry of Finance said in a statement.

Japan’s export volumes of plastic materials rose by 1.7% year on year to 477,766 tonnes in September, it said.

Imports of chemicals, meanwhile, was up by 5.8% year on year at Y583.1bn, the MOF said.

Japan’s total exports rose by 6.9% year on year to Y6,383bn in September, according to the ministry.

Its exports to Asia rose by 8.1% year on year in September, while shipments to  North America was up by 4.7%, it said.

The country’s imports rose by 6.2% year on year to Y7,341bn in September, resulting in a trade deficit of Y958.3bn, the record 27th straight monthly trade shortfall.

Japan posted a shortfall of Y943.2bn in September last year.

The yen slipped to a six-year low at around Y110 to the dollar last month, which could potentially make Japanese cheaper abroad. However, it could also make imports more expensive.

Japan’s fossil fuel imports soared following the Fukushima nuclear disaster in 2011, which forced the shutdown of all 48 commercial nuclear reactors in the country.
($1 = Y106.8)

Read John Richardson and Malini Hariharan’s blog – Asian Chemical Connections