China continues to maintain its position as Japan’s largest export market
- Date: Aug 20, 2021
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- Categories: News
Xinhua News Agency, Tokyo, August 18 (Reporter Liu Chunyan) Preliminary statistics published by the Ministry of Finance of Japan on the 18th showed that Japan’s exports in July continued to grow rapidly year-on-year, with an increase of 37%, driven by demand from overseas markets such as China and the United States.
The report shows that due to the strong economic recovery and strong demand in major export markets such as China, exports of Japanese automobiles, steel, and auto parts have increased significantly year-on-year. In July, Japanese exports reached 7.36 trillion yen (1 U.S. dollar equals 109 yen). , Increasing year-on-year for 5 consecutive months.
In terms of imports, Japan’s imports of crude oil, iron ore, and non-ferrous metals have increased significantly due to factors such as the continued rise in resource commodity prices. Japan’s imports in July increased by 28.5% year-on-year to 6.92 trillion yen. Japan achieved a trade surplus of 441 billion yen that month.
From the perspective of countries and regions, Japan’s exports to China increased by 18.9% year-on-year to 1.58 trillion yen in the same month. Plastics, semiconductor manufacturing equipment, semiconductor components and other fields increased significantly. As of July, Japan’s exports to China have increased year-on-year for 13 consecutive months. China continues to maintain its position as Japan’s largest export market.
In addition, Japan’s exports to the United States increased by 26.8% year-on-year to 1.38 trillion yen in the same month, and exports to the European Union increased by 46.1% to 640 billion yen, both of which were five consecutive months of year-on-year increase.