Exports to Japan jump 13% in first 3 quarters

The value of local goods shipped to Japan rose 12.8 percent to more than $6.5 billion in the first three quarters, from $5.8 billion in the same period a year ago.

According to data from the Japan External Trade Organization, Philippine imports from Japan, on the other hand, slipped 1.3 percent to close to $8.1 billion in January-September, from last year’s $8.2 billion.

Japan, the country’s second-largest trading partner, enjoyed a trade surplus of more than $1.5 billion during the period.

In the first nine months, the Philippines was the destination for 1.3 percent of Japan’s overall exports, while Japan sourced 1.1 percent of its imported goods from the country.

In September alone, the country’s exports to Japan increased to $776.2 million, 9.5 percent higher than the $707.8 million registered in the same month last year.

Imports from Japan likewise rose 15 percent in September to more than $1.1 billion, from the previous year’s $974.4 million.

The Philippines accounted for 1.4 percent of Japan’s exports and 1.1 percent of imports in September.

In an earlier interview, Trade Secretary Gregory Domingo said the country’s exports would most likely register flat growth for the year or, worse, even suffer a decline.

This would all depend on how the electronics sector would fare in the last quarter.

“For 2011, we may register a slight negative, especially if electronics further declines,” he said. “Given what’s happening to electronics now, we may most likely get zero growth.”

Japan is also one of the country’s biggest markets for electronics.

Japan has yet to fully recover from the Great Eastern Japan Earthquake that triggered a tsunami and a nuclear crisis in March, but it is starting to move in that direction.

As of end-September, Japan’s exports to all its trading partners worldwide showed a 9.1-percent improvement to $609.4 billion. Imports, on the other hand, rose 24.3 percent to $625.5 billion.

China continued to be Japan’s largest trading partner, accounting for 19.8 percent of overall exports and 21.2 percent of imports.

In the first nine months, Japan’s exports to China amounted to $120.7 billion, while its imports came up to $132.9 billion. Abigail L. Ho