Saturday, 19 Feb 2011
According to the Japan External Trade Organization, trade between Japan and China increased 30% to a record USD 301.85 billion or about JPY 25.2 trillion in 2010.
Both exports and imports marked all time highs, and this was the first time that Japan's trade with any nation surpassed USD 300 billion.
Exports from Japan to China jumped 36% to USD 149.09 billion or JPY 12.4 trillion, with shipments of construction and mining machinery enjoying a 105% spike thanks to China's investment in large infrastructure projects. Exports of automobiles expanded 81%.
Imports rose by 25% to USD 152.75 billion or about JPY 12.7 trillion, with electronics, such as smart phones, other cell phones and LCD televisions, enjoying a 47% jump.
China accounted for a record 20.7% of Japan's total trade, up by 0.2 percentage points from 2009.
Given that export growth outpaced import gains, JETRO says the bilateral trade may swing to a surplus in Japan's favor this year.
(Sourced from Nikkei)
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