Japan, China increase bilateral trade in 2004
Japan's bilateral trade with
China rose 26.9% to $168 billion in 2004 as both exports and imports posted sharp increases, the
Japan External Trade Organization (JETRO) said.
Japan's exports to
China surged 29% to $73.8 billion in 2004, while
Japan's imports from
China rose 25.3% to $94.2 billion.
JETRO said
Japan's trade deficit with
China rose $2.5 billion to $20.4 billion last year. However, JETRO pointed out that in real terms the deficit has been narrowing annually since
China joined the World Trade Organization (WTO) in 2001.
Japan's bilateral trade with
China is expected to exceed $190 billion in 2005.