Japan Chemical Trading Blog
Yen’s Depreciation Leading Japan’s Export Recovery Trend
According to the October trade statistics bulletins announced by the Ministry of Finance on 20 November, Japan’s trade balance deficit was 710 billion Japanese yen (approx. USD seven billion one hundred million).
This is 250 billion Japanese yen (approx. USD two billion five hundred million) less than the previous month and 390 billion Japanese yen (approx. USD three billion nine hundred million) less year-on-year, respectively.
The export of automobiles, electronic devices, chemical products and steel increased by about 10%, while imports increased by only 2.7% year-on-year, affected by the crude oil price depreciation, etc.
Recently, in a conversation with a representative of a shipping line company, I heard that all tonnage for ships leaving from Japan to Singapore was already booked until December.
At last, the effect of the yen’s depreciation is starting to show.