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Japan's U.S.-bound container exports amounted to 48,372 TEUs in August (based on volumes at ports of origin), which decreased 7.2% from the corresponding month of 2022, according to Descartes Datamyne. They have continued to decline year on year for six month in a row. From a month earlier, they shrank 1.1%.
Containers moved directly to the U.S. accounted for 32,256 TEUs, which surged 11.9% from a year earlier, but those transshipped on the way plunged 30.9% to 16,116 TEUs. Transshipment (T/S) containers held a share of 33.3%, which have returned to how they did two months ago. Containers transshipped in South Korea plummeted 33.1% to 10,228 TEUs, while those carried via transshipment in China fell a more significant 49.7% to 1,736 TEUs. In contrast, Taiwan was responsible for 2,305 TEUs, which improved 5%.
Looking at some commodities, machinery went down 5.9% to 12,009 TEUs; auto parts and components, up 7% to 10,446 TEUs; and tires and other rubber products, down 9.9% to 6,063 TEUs.
Meanwhile, Japan's imports from the U.S. sank 14.8% year on year to 45,730 TEUs in July based on ports of destination, which have trended down for the third consecutive month. From the previous month, they shrank a milder 6.1%. Direct imports to Japan amounted to 35,620 TEUs, which slid 19.2% from a year earlier, while 10,110 TEUs were transshipped in third countries and regions, which swelled 5.3% and accounted for 22.1% of the total. Descartes Datamyne has attributed the contraction in Japan's U.S. imports to the depreciation of the Japanese yen.
As for major commodities, pasture diminished 21.1% to 7,704 TEUs, which caused the decrease in direct imports. However, it managed to hold the largest parts of the pie. Ranked second was meat, which fell 7.5% to 4,777 TEUs.
