Japan's exports to China in 2012 down for 1st time in 3 yrs
TOKYO - Japan External Trade Organization released a report Tuesday saying that Japan's total trade with China dropped 3.3 percent to $333.664 billion in 2012.
The Japanese government- related organization said Japan's exports to China fell 10.4 percent to $144.794 billion, marking the first drop since 2009, following Lehman's fall.
A serious decrease was seen in Japanese exports of general machines such as motors, construction and mining machines, steel and automobiles. In particular, automobiles exports drastically fell after September, as Japan and China relations deteriorating over islands dispute.
Japan's total exports with the world decreased 2.4 percent from the year earlier to $801.282 billion, a total decrease of $19.511 billion,the drop in exports to China became a major reason for Japan's decreased exports.
And the organization forecasted that Japan-China trade throughout 2013 is expected to see an increase after the decline in 2012, but the growth rate will likely remain modest.
Related Readings
Japan's trade deficit with China rises in 2012China, Japan need sound economic ties
China, Japan, S. Korea launch FTA talks
Japanese firms look to other markets
