ID :
113302
Thu, 03/25/2010 - 06:06
Auther :
Shortlink :
https://www.oananews.org//node/113302
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Japan`s February exports jump 45.3% on year+
TOKYO, March 24 Kyodo -
Japan's exports jumped a year-on-year 45.3 percent in February to 5,128.67
billion yen, the third straight monthly expansion, adding to signs that the
nation's gradual economic recovery has been driven by growing demand from the
rest of Asia and the United States, Finance Ministry data showed Wednesday.
Exports to all regions turned positive for the first time since August 2007,
the ministry said, adding that the growth rate is the third largest on record.
Imports rose for the second straight month, up 29.5 percent to 4,477.69 billion
yen, registering the biggest growth since February 2006, the ministry said in a
preliminary report.
As a result, Japan's trade surplus stood at 650.98 billion yen, up 818.8
percent -- the second largest on record.
Exports to China widened for the fourth consecutive month, up 47.7 percent to
902.42 billion yen, with demand for passenger cars, auto parts and high-tech
devices strengthening.
Imports from China, Japan's No. 1 trading partner, grew for the first time in
16 months, up 54.3 percent to 926.98 billion yen, partly because shipments of
clothing expanded for the first time since last March.
With its Asian neighbors, Japan's exports rose 55.7 percent to 2,775.59 billion
yen, as more semiconductors and electronic components were shipped to such
economies as Taiwan and Malaysia.
To the United States, exports increased for the second month running, up 50.4
percent to 837.07 billion yen, as shipments of cars in terms of value ballooned
a record 129.9 percent from a year ago.
Finance Ministry officials said the latest figures show that Toyota Motor
Corp.'s recall problems did not lead to a slowdown in exports of Japanese cars
and other manufactured products to the U.S. market.
However, they noted that the record growth in auto shipments is attributable to
a favorable year-on-year comparison.
Yuichiro Nagai, economist at Barclays Capital Japan Ltd., said a notable rise
in exports to the United States is a promising sign for the Japanese economy.
''The rise made up for slightly weaker shipments to China, which had a shorter
business-day period in February due to the Lunar New Year holiday,'' Nagai
said.
Looking ahead, Nagai said Japan's exports are likely to recover at almost the
same pace for the rest of 2010.
In February, Japan's exports reached about 70 percent of their peaks before the
economic crisis took a heavy toll on almost all kinds of businesses.
Shipments to the European Union rose for the third straight month, up 19.7
percent to 588.02 billion yen. Imports grew for the first time in 17 months, up
7.3 percent to 422.08 billion yen, with more pharmaceutical products and cars
entering the Japanese market.
By region, exports to the Middle East, Central and Eastern Europe, and Russia
turned positive in the reporting month for the first time in many months,
according to the ministry.
Trade figures are measured on a customs-cleared basis before adjustments for
seasonal factors.
==Kyodo
Japan's exports jumped a year-on-year 45.3 percent in February to 5,128.67
billion yen, the third straight monthly expansion, adding to signs that the
nation's gradual economic recovery has been driven by growing demand from the
rest of Asia and the United States, Finance Ministry data showed Wednesday.
Exports to all regions turned positive for the first time since August 2007,
the ministry said, adding that the growth rate is the third largest on record.
Imports rose for the second straight month, up 29.5 percent to 4,477.69 billion
yen, registering the biggest growth since February 2006, the ministry said in a
preliminary report.
As a result, Japan's trade surplus stood at 650.98 billion yen, up 818.8
percent -- the second largest on record.
Exports to China widened for the fourth consecutive month, up 47.7 percent to
902.42 billion yen, with demand for passenger cars, auto parts and high-tech
devices strengthening.
Imports from China, Japan's No. 1 trading partner, grew for the first time in
16 months, up 54.3 percent to 926.98 billion yen, partly because shipments of
clothing expanded for the first time since last March.
With its Asian neighbors, Japan's exports rose 55.7 percent to 2,775.59 billion
yen, as more semiconductors and electronic components were shipped to such
economies as Taiwan and Malaysia.
To the United States, exports increased for the second month running, up 50.4
percent to 837.07 billion yen, as shipments of cars in terms of value ballooned
a record 129.9 percent from a year ago.
Finance Ministry officials said the latest figures show that Toyota Motor
Corp.'s recall problems did not lead to a slowdown in exports of Japanese cars
and other manufactured products to the U.S. market.
However, they noted that the record growth in auto shipments is attributable to
a favorable year-on-year comparison.
Yuichiro Nagai, economist at Barclays Capital Japan Ltd., said a notable rise
in exports to the United States is a promising sign for the Japanese economy.
''The rise made up for slightly weaker shipments to China, which had a shorter
business-day period in February due to the Lunar New Year holiday,'' Nagai
said.
Looking ahead, Nagai said Japan's exports are likely to recover at almost the
same pace for the rest of 2010.
In February, Japan's exports reached about 70 percent of their peaks before the
economic crisis took a heavy toll on almost all kinds of businesses.
Shipments to the European Union rose for the third straight month, up 19.7
percent to 588.02 billion yen. Imports grew for the first time in 17 months, up
7.3 percent to 422.08 billion yen, with more pharmaceutical products and cars
entering the Japanese market.
By region, exports to the Middle East, Central and Eastern Europe, and Russia
turned positive in the reporting month for the first time in many months,
according to the ministry.
Trade figures are measured on a customs-cleared basis before adjustments for
seasonal factors.
==Kyodo
