Japanese imports of manufactured goods recovered last year

TOKYO (AFP): Japanese imports of manufactured goods grew seven percent to US$125 billion last year, reversing the previous year's decline of 2.8 percent, the Japan External Trade Organization (Jetro) said yesterday.

Jetro also said that manufactures accounted for 52 percent of all imports in the year to December, up from 50.2 percent a year earlier and a record high.

The agency said the rebound was led by higher imports from China, four of the six members of the Association of Southeast Asian Nations (ASEAN) and the United States but partly offset by lower imports from the European Union (EU).

The overall increase reflected falling import prices as a result of the stronger yen.

Imports of manufactured goods from China surged 31.4 percent to $14.2 billion while imports from the four ASEAN members -- Indonesia, Malaysia, the Philippines and Thailand -- were up 23.9 percent at $10.7 billion.

Japanese imports from the United States were up 6.7 percent at $34.1 billion while imports from the newly-industrialized economies of South Korea, Taiwan, Hong Kong and Singapore grew 4.3 percent to $20 billion.

But imports of manufactured products from the EU fell four percent to $25.6 billion, surpassing the previous year's decline of 2.7 percent.