American and Asian exporters benefit most from Japanese import
\nboom<\/p>\n
TOKYO (AFP): Exporters from the United States and Asian
\ncountries, notably China, are benefiting most from the current
\nboom in Japanese imports, leaving their European competitors
\nlargely behind.<\/p>\n
Computer chips from the United States, textiles from China and
\ntimber products from Southeast Asia were among the major items
\nwhich helped boost Japan's imports by 4.8 percent to US$244
\nbillion in the year to March.<\/p>\n
While imports of office equipment and cars from Europe also
\nbenefited from a stronger yen, total imports from the European
\nUnion (EU) were stagnant, a sharp contrast to the surge in
\nimports from the United States and Asia.<\/p>\n
Figures released by Japan's finance ministry show that lumber,
\ntextiles and semiconductors together accounted for precisely half
\nthe overall increase in Japanese imports in the year to March.
\nImports of seafood, office equipment and timber products were
\nalso a driving force.<\/p>\n
Asian countries accounted for almost three quarters of the
\nimport surge, with China alone accounting for more than a third
\nand the six-member Association of Southeast Asian Nations (ASEAN)
\nalmost a quarter. ASEAN groups Brunei, Indonesia, Malaysia, the
\nPhilippines, Singapore and Thailand.<\/p>\n
The United States meanwhile absorbed almost 40 percent of the
\nincrease. But the EU contribution was zero with increased imports
\nfrom Britain offset by lower imports from Germany and France, the
\nministry said.<\/p>\n
Lower oil prices resulted in imports from the Middle East
\nmaking a negative contribution.<\/p>\n
Economists here say much of the dominant Asian share in the
\nJapanese import surge is linked to the growing amount of
\nproducts, notably in the electronics sector, produced by Japanese
\ncompanies in Asia.<\/p>\n
But there are other factors at play.<\/p>\n
"The yen didn't go up as much against European currencies as
\nit did against the dollar," said Michael Hartnett, economist at
\nSchroder Securities (Japan) Ltd., noting that this made US and
\nAsian goods more competitive.<\/p>\n
In addition, "you've got to look at what Europeans produce --
\nwines from France and fur coats from Germany," Hartnett said,
\nadding that the recent revival in Japanese consumer spending was
\nnot geared toward expensive products.<\/p>\n
Japanese imports from Asia leapt 10.9 percent to $83 billion,
\nled by textiles, timber products, seafood, semiconductors and
\noffice equipment.<\/p>\n
In the financial year to March, Japan's imports from the
\nUnited States, its biggest single trading partner, grew 8.4
\npercent from a year earlier to almost $57 billion, led by
\nsemiconductors, lumber, meat and textiles.<\/p>\n
Imports jumped 28 percent to $2.9 billion for semiconductors,
\nby 13 percent to $3.3 billion for lumber, by 14 percent to $2.7
\nbillion for meat and by 52 percent to $907 million for textiles.<\/p>",
"url": "https:\/\/jawawa.id\/newsitem\/american-and-asian-exporters-benefit-most-from-japanese-import-1447899208",
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"sponsor_url": "https:\/\/okusiassociates.com"
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