The 2019 trade statistics released by the Ministry of Finance of the People’s Republic of China on the 23rd show that the import and export are separated by 3 years, which is lower than the same period of the previous year. The value of exports decreased by 5.6% year-on-year to 767,277 billion yen.
Chinese media www.Sina.com reported on January 27, Beijing time that the 2019 trade statistics released by the Ministry of Finance of the People’s Republic of China on the 23rd showed that imports and exports were separated by 3 years, lower than the same period last year. The value of exports decreased by 5.6% year-on-year to 767,277.7 billion yen (1 yen was approximately 0.0092 US dollars).
Affected by the global trade conflict, exports to China decreased by 7.6% to 1,468,22 billion yen. Imports were affected by falling prices of energy-related products, which decreased by 5% year-on-year to 78,571.6 billion yen.
Japan’s exports to Singapore decreased by 14.9% year-on-year, and exports to Thailand decreased by 7.6% year-on-year. Exports to major ASEAN countries have shrunk.
Affected by the deterioration of Japan-ROK relations, exports to South Korea fell by 12.9% year-on-year to 544.1 billion yen. Among them, food exports decreased by 22.6%. The exports of semiconductors and other manufacturing equipment decreased by 49.7%.
Exports to the United States also decreased by 1.4% year-on-year to only 152,469 billion yen, mainly due to the decline in exports of automobiles and steel.
In terms of imports, fossil fuels, which accounted for 20% of total imports, decreased by 12.2% year-on-year to 169571 billion yen. Affected by the decline in energy prices compared to 2018, crude oil from Saudi Arabia and liquefied natural gas (LNG) imports from the United Arab Emirates (UAE) decreased. However, compared with imports, the value of exports has fallen even more, with a trade balance of 163.8 billion yen, which has been a deficit for two consecutive years.
Exports in December 2019 decreased by 6.3% year-on-year to 657.7 billion yen, a 13-month decrease. However, the export value to China increased after a lapse of 10 months, up 0.8% year-on-year to 1142.6 billion yen. The export value of semiconductor and other manufacturing equipment increased by 59.7% year-on-year.