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Japanese exports to China up 35.7pc, surpass those to US, Europe
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Posttime:2021-02-24
JAPAN's exports to China - its top trading partner - surged 37.5 per cent year on year in January outstripping those to the US and EU, making it the biggest jump in demand in more than a decade, reports Bloomberg.
Chip-making equipment and plastics were at the top of China's shopping list ahead of its Chinese New Year celebrations, with increases of almost 60 per cent.
Overall, Japan's exports rose 6.4 per cent, adding to encouraging signs from Asia following strong export results out of South Korea and Singapore. Japan's shipments within Asia also gained 19 per cent from a year ago to JPY3.37 trillion (US$32 billion), the biggest increase since November 2017.
But holiday distortions have considerable bearing in making the apparent trend more of an anomaly in January and February.
More working days this year in January and front-loaded orders likely inflated the numbers. These distortions are mirrored to a lesser degree throughout the region and will probably reverse for less favorable figures in February.
source:Schednet
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