MANILA, Philippines--Merchandize exports to Japan slowed down further in the 11 months ending November 2008, growing by just 3.1 percent to $8.2 billion as confidence in the Philippines dipped among Japanese affiliated firms.

Shipments slid from a growth rate of 9.3 percent in the same period in 2007 while a yearly poll made by Japan External Trade Organization showed Japanese manufacturers’ expectations of operating profits dropped to 12.2 diffusion index (DI) points from 29.9 points.

The DI is a measure of business sentiment.

Meanwhile, Jetro reported that imports from Japan increased by 7.6 percent to $9.25 billion, which was faster than the 4.1-percent growth rate seen in the yearago period.

In that period, Japan’s surplus on trade with the Philippines hovered at about $1 billion or two-thirds more than the previous $643.87 million.

As of end-November, shipments from the Philippines accounted for 1.2 percent of Japan’s total imports valued at some $700.6 billion.

Further, Japan’s merchandize cargo sent to the Philippines accounted for 1.3 percent of Japan’s total exports of $724.6 billion.

In November 2008 alone, exports to Japan dropped to $640 million or 11.1 percent lower than the $720 million posted in the same month of 2007.

The November imports figure from Japan was even worse, slipping to $670.9 million from $880 million or 23.8 percent lower.

Last December, Jetro reported that more Japanese affiliated firms are now pessimistic about their operating profits in the Philippines.

The Jetro study, which covered the Philippines, Indonesia, Thailand, Malaysia, Singapore, Vietnam and India, defined a Japanese affiliated company as one in which a Japanese parent firm owns at least 10 percent.

As for the profit outlook for 2009, the DI for the manufacturing respondents dropped to zero compared with 12.2 points last year.