Japan’s chemical exports rise by 32.6% in May, overall shipments up 49.6%

SINGAPORE (ICIS)–Japan’s chemical exports surged by 32.6% year on year to yen (Y) 816.1bn in May, supporting the overall rise in shipments abroad, official data showed on Wednesday.

Exports of plastic materials rose by 33.8% year on year to Y223.3bn in May, while shipments of organic materials were up by 44.6% at Y154.5bn, the Ministry of Finance (MOF) said in a statement.

On a volume basis, exports of plastic materials were up by 18.5% year on year to 467,358 tonnes.

Overall exports rose by 49.6% year on year to Y6,261.3bn in May, while imports were up by 27.9% at Y6,448.4bn.

This resulted in a trade deficit of Y187.1bn in May this year, up from the deficit of Y856.8bn in May 2020.

Total shipments to China rose by 23.6% year on year to Y1,392.7bn in May while exports to the US jumped by 87.9% to Y1,104.5bn.