Japan's trade with China rises to record high of $132.4 billion
11:49 AM EST Feb 18
TOKYO (AP) - Japan's trade with China surged 30.4 per cent last year to $132.4 billion US, setting a record for the fifth straight year, a government-affiliated trade organization said Wednesday.
The figures from the Japan External Trade Organization, or JETRO, cover both imports and exports in the year to Dec. 31, and are based on dollar conversions of Finance Ministry data. Japanese exports to China rose for the fifth straight year to $57.2 billion, up 43.6 per cent from the previous year, led by electronics parts, industrial machinery and auto products. Other growing sectors included construction machinery and machine tools. China's blossoming car market pushed Japanese auto exports to China up by 30 per cent.
The United States remained Japan's leading export market, accounting for 24.6 per cent of Japanese global exports - 2.6 per cent lower than a year earlier. But China, second in place with a 12.2 per cent share, is increasingly growing in importance.
Imports from China jumped 21.9 per cent to $75.2 billion, also a fifth straight annual rise. Imports rose in personal computers, DVD players, printers and other office equipment. Food imports suffered because of an outbreak of bird flu, JETRO reported. Tokyo has since banned the import of all poultry and poultry products from China.
Japan's trade deficit with China shrank to $17.95, down $3.9 billion from the previous year.
cbc.ca |
