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ECONOMY > Trade

Japan Jan. exports up for 2nd straight month

  • February 17, 2021
  • , Jiji Press , 12:11 p.m.
  • English Press

Tokyo, Feb. 17 (Jiji Press)–Japan’s exports in January grew 6.4 pct from a year earlier to 5,779.8 billion yen, up for the second straight month, a preliminary Ministry of Finance report showed on Wednesday.

 

The January growth is mainly attributed to a sharp increase in exports to China, which has been the first among major economies to recover from the COVID-19 crisis.

 

In trade with China, Japan’s exports surged 37.5 pct to 1,232.6 billion yen, up for the seventh consecutive month and posting the steepest rise since the April 2010 growth of 41.3 pct.

 

The higher exports to China can be partly explained by Chinese New Year holidays moved up to January last year.

 

By trade item, shipments to China of semiconductor manufacturing equipment and plastics soared 58.3 pct and 57.3 pct, respectively.

 

Exports to the United States and the European Union were down 4.8 pct and 1.6 pct.

 

Meanwhile, Japan’s overall imports in January dropped 9.5 pct to 6,103.7 billion yen, due to a plunge in oil imports from the United Arab Emirates.

 

As a result, Japan ran a monthly customs-cleared trade deficit of 323.9 billion yen, far smaller than the year-before deficit of 1,315.1 billion yen. The red figure was the first in seven months.

 

The January deficit compared with the median forecast of a deficit of 600 billion yen in a Jiji Press poll of 19 research institutes.

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