Japan’s Oct chemical exports rise 9.9%, overall shipments up 25.3%

SINGAPORE (ICIS)–Japan’s chemical exports rose by 9.9% year on year to yen (Y) 1.04tr in October, supporting the overall increase in shipments abroad, official data showed on Thursday.

The country’s exports of organic chemicals rose marginally by 0.8% year on year to Y182.6bn in October, while shipments of plastic materials were up by 0.6% at Y269.6bn, the Ministry of Finance (MOF) said in a statement.

On a volume basis, exports of plastic materials were down by 14.2% at 450,909 tonnes in October.

Japan’s overall exports rose by 25.3% year on year to Y9tr in October, while imports surged by 53.5% at Y11.2tr.

This resulted in a trade deficit of around Y2.16tr in October, marking the 15th straight month that the country’s trade balance is in the red amid the yen’s rapid depreciation.

The country’s exports to China rose by 7.7% in October while shipments to the US were up by 36.5%.

Total exports of motor vehicles were up by 81% in October while shipments of motor vehicle parts rose by 24.5%.