News
Members of Japan International Freight Forwarders Association Inc. (JIFFA) handled a total of 57.968 million tons of international multimodal cargo to and from Japan in the second half of fiscal 2017 (October 2017-March 2018), down 1.8% year on year, suffering the first year-on-year contraction in five six-month terms, or since the first half of fiscal 2015. In the full fiscal year, 115,728 million tons were moved, up 3.2%, exceeding the 100-million-ton line for four years in a row and reaching an all-time high. In breakdown, imports to Japan only grew a minute 0.3% to 71.569 million tons, while exports were much more brisk, rising 9.3% to 44.159 million tons, which was also a new record. These data come from a survey that JIFFA’s Forwarding Committee conducted among affiliated freight forwarders, 464 of which made valid responses.
Incoming international multimodal shipments to Japan once grew stagnant due to growth decelerations in China and other newly industrialized economies. They returned to a recovery trend in the second half of fiscal 2015. In the second half of fiscal 2017, they fell 4.6% to 35.989 million tons. It was the second highest six-month throughput, although quantitatively decreasing from the record high of 37.735 million tons set a year earlier.
Imports from China were dull, declining 2.3% to 17.145 million tons, but managed to account for the largest part of the pie. Vietnam bumped up a notch from third to second place, from which 2.699 million tons were shipped, surging 14.6%. Those from Europe improved 6.8% to 2.66 million tons, which also went up a notch to finish in third. In contrast, Hong Kong fell a notch to fourth place, from which 2.182 million tons were imported, plunging 23.9%. Combined imports from mainland China and Hong Kong dipped 5.4% to 19.327 million tons in total, falling below the 20-million-ton mark for the third consecutive term. They held a share of 53.7%, shrinking 0.4 percentage points. It has been on the decline since reaching a peak at 66.6% in the first half of 2008. Ranking fifth place, imports from Thailand soared 14.1% to 2.143 million tons.
In the second half of fiscal 2017, exports of international multimodal shipments swelled 3.3% to 21.979 million tons. Assisted by brisk freight movement worldwide, they were the second highest volume, after the record of 22.18 million tons made in the first half of the fiscal year. Shipments to China, the leading destination, remained nearly unchanged, waning a minute 0.9% to 4.469 million tons. The U.S. was again the second greatest consignee. Exports to the nation hiked 8.6% to 3.079 million tons, as demand was favorable domestically due to the appreciation of the U.S. dollar. South Korea and Europe switched places with each other, coming in third and fourth places, respectively. Shipments to the former economy climbed 6% to 2.106 million tons, but those to the latter region plunged 12.5% to 1.861 million tons, failing to reach the two-million-ton line. Those to Thailand were powerful, inflating 8% to 1.346 million tons and helping the Southeast Asian country rank fifth place.
In the six-month term in question, China was the greatest trade partner to Japan, but in terms of volume, exports and imports of International multimodal freight to and from the economy decreased 2.1% to 21.614 million tons in total. Ranked second was the U.S., to and from which 5.044 million tons were moved, plummeting 17.8%. The U.S. was immediately followed by Europe, which exported and imported 4.52 million tons to and from Japan, down 2.1%. South Korea was the fourth largest partner, to and from which 3.969 million tons were transported, down 0.7%. Finishing in fifth place, shipments to and from Vietnam grew 2.9% to 3.717 million tons.
