Japan, China increase bilateral trade in 2004

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.