China's imports from Japan decline

Tuesday, 07 June 2005 15:07:35 (GMT+3)   |  
       

China’s imports from Japan decline

According to data from the Japanese Finance Ministry, China's steel imports from Japan decreased 18% year on year in April. Inflated inventory in China, some 72.4% above 2004's levels, has been singled out as the main culprit in the declining imports from Japan. To make matters worse, China's automobile imports from Japan decreased 25% in April, according to the Dai-ichi Life Research Institute of Japan. Tighter restrictions on dealer and consumer loans are being blamed for the decrease in autos coming from Japan. Furthermore, construction machinery imports from Japan followed up March's 65% year-on-year drop with a 47% year-on-year decline in April. The Dai-ichi Institute expects Japanese exports of steel and transport machinery to take almost six months to recover. On the other hand, it may be a year or more before general machinery exports from Japan pick back up. Exports to China account for 13 percent of Japan's total, second only to 22 percent for the United States.

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