Driven by demands from Chinese and US markets, Japan's export volume rose 37% in July, maintaining rapid growth year-on-year, according to Ministry of Finance Japan's survey published on August 18.
According to the report, Japan's export on cars, auto parts and steel to China rose dramatically because of the robust economic recovery and strong demands of its major export destinations like China. Its export volume totaled 7.36 trillion yen (or 67 billion US dollars) in July, realizing a consecutive increase of 5 months.
Japan's import of crude oil, iron ore and nonferrous metals grew significantly thanks to constantly rising prices for energy resources. The import volume in July surged 28.5% YoY to 6.92 trillion yen and the trade surplus reached 441 billion yen last month.
Japan's export volume to China increased by 18.9% YoY to 1.58 trillion yen. In particular, it witnessed a substantial growth in the fields including plastics, semiconductor manufacturing equipment and semiconductor components. Its exports to China by last month had grown for 13 consecutive months year-on-year, making China remain Japan's largest export market.
Japan's export volume to the US increased by 26.8% YoY to 1.38 trillion yen. Its exports to the EU increased by 46.1% YoY to 640 billion yen. Both of them realized a growth for 5 consecutive months. (Reporter: Liu Chunyan)
(Source: CCPIT/Economic Information Daily)
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