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Exports to Japan down 36%

By Abigail L. Ho
Philippine Daily Inquirer
First Posted 21:49:00 06/28/2009

Filed Under: International (Foreign)Trade, Economy and Business and Finance

MANILA, Philippines - Philippine exports to Japan, its second biggest market, remained sluggish, with the value of goods shipped falling by 36.4 percent to $1.8 billion in the first four months of the year.

According to the Japan External Trade Organization, shipments from the Philippines to Japan in the same period last year reached $2.9 billion.

In April alone, the value of local goods shippe d to Japan fell 32.6 percent to $472.9 million, from $701.4 million in the same period last year.

From January to April, the Philippines accounted for a mere 1.1 percent of total Japanese imports.

Japanese products shipped to the country likewise plunged 38.5 percent to $2.1 billion from $3.3 billion a year ago.

April shipments to the Philippines from Japan slumped 38.1 percent to $542.9 million from $876.8 million a year ago.

The first four months saw Japan still enjoying a trade surplus of $228.8 million, down from the $470.5 million in the same period last year.

In the first quarter, the value of local goods shipped to Japan fell by 37.6 percent to almost $1.4 billion.

Philippine imports from Japan also slowed to $1.5 billion during the quarter, 38.6 percent lower than the year-ago level.

Overall, Japanese trade with all its partners contracted. Exports to partner-economies slowed by 38.5 percent to $163.3 billion from $265.6 billion during the first four months last year.

Imports also declined 28.9 percent to $172.3 billion as of end-April, from $242.4 billion in the same period in 2008.

In the first four months, Japan registered a trade deficit of $9 billion.



Copyright 2011 Philippine Daily Inquirer. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.



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