News
Exports from Japan to China decreased 0.3% from a year earlier to 947,556 tons in October, which registered the first year-on-year decline in three months, according to a report on container movement between the two Asian economies that was recently released by the Japan Maritime Center (JMC). In terms of value, they fell 5.6% to \594.1 billion, which waned for the eighth consecutive month. Major underlying factors included downturns in major items—such as timber/lumber, pulps and waste paper; plastic products; and iron and steel.
The JMC report, which had been complied from trade statistics unveiled by the Ministry of Finance (MOF), added that imports from China to Japan diminished 5% to 1,717,179 tons in the month in question, which incurred a year-on-year contraction for two back-to-back months. On a value scale, they plunged 22.2% to \920.4 billion, which sank for seven months in a row, showing no sign of recovery. Inbound throughput was weak for major commodities across the board, which included machinery and equipment; plastic products; and auto parts and components. Freight rates for shipments form Shanghai to Yokohama were US$610 per TEU, which went down 7.6% and suffered a year-on-year downslide for 20 straight months.
