Exports in August 8% decrease year-on-year Impact of US-China trade friction September 18 10:28
Japan's exports in last month and August fell 8.2% compared to the same month last year as exports to China continued to decline due to the impact of US-China trade friction.
According to the trade statistics released by the Ministry of Finance, Japan's exports last month were 6.1 trillion yen, a decrease of 8.2% compared to the same month last year, a decrease for nine consecutive months.
Of this, exports to China were 12.01 trillion yen, down 12.1% from the same month last year, due to the impact of the Chinese economic slowdown due to trade disputes between the United States and China. Exports to South Korea decreased by 9.4% to 422.6 billion yen due to a decrease in exports of semiconductor manufacturing equipment and food products.
We do not know whether the government has tightened export control to Korea for three raw materials such as semiconductors.
On the other hand, the import amount of Japan last month was 6,027.3 billion yen, which was 12% lower than the same month last year due to a drop in crude oil prices and a decrease in imports of crude oil and petroleum products. As a result, the trade balance after deducting the import value from the export value was a loss of 136.3 billion yen. The trade balance is in the red for the second consecutive month.
In response to the attack on oil-related facilities in Saudi Arabia and the rise in crude oil prices, the Ministry of Finance said, “I want to carefully monitor future trends, such as whether the price increases will be temporary.” .