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 China has become Japan's largest trading partner. |
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ceo/cfo
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加入时间: 2004/11/05
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作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
China Beats Out U.S.
In Trade With Japan
Officials Hesitant to Say
If Beijing Can Hold Spot;
Ban on American Beef Cited
By LEIKA KIHARA and TAKESHI TAKEUCHI
DOW JONES NEWSWIRES
January 27, 2005
TOKYO -- China beat out the U.S. as Japan's biggest trading partner last year, underscoring the country's growing importance for the Japanese economy, data released show.
Japan's trade with China, including figures for Hong Kong, totaled 22.2 trillion yen ($213 billion) in 2004, surpassing the 20.48 trillion yen of trade between Japan and the U.S. for the first time, Japan's Ministry of Finance said yesterday.
China continued to post stellar economic growth during the year, importing 7.996 trillion yen of goods from Japan, up 20.5%, and exporting 10.197 trillion yen of goods to Japan, up 16.8%, ministry data show.
Hong Kong's imports from Japan grew 10.9% to 3.831 trillion yen over the course of the year, while its exports to Japan increased 12.8% to 175.72 billion yen, the data showed. Hong Kong has become increasingly integrated with mainland China's economy, which grew 9.5% in 2004.
On the other hand, Japan's exports to the U.S. increased 2.3% to 13.72 trillion yen last year, while its imports from the U.S. shrank 1% to 6.759 trillion yen.
The data may fuel the shift in Japan's business strategy for the past few years, with Japanese companies moving more of their human and financial capital to China and other fast-growing Asian countries from the U.S.
But the data show that by country, Japan continues to run its largest trade surplus with the U.S.
Japan's trade surplus with the U.S. logged 6.962 trillion yen, accounting for more than half of Japan's total surplus of 12.011 trillion yen, while its surplus with China and Hong Kong totaled 1.455 trillion yen.
The combined value of trade with China and Hong Kong accounted for 20.1% of Japan's total trade for the year, up from 19.2% the year before, while the U.S. share fell to 18.6% from 20.5%, according to a ministry official.
The official said it was hard to determine whether China will remain Japan's biggest trading partner in 2005 and beyond, as trade with the U.S. in 2004 was hurt by special factors, such as Japan's 13-month ban on U.S. beef imports since the late-2003 discovery of a cow infected with bovine spongiform encephalopathy in the U.S.
"But even excluding the [beef-import ban] factor, I don't think there will be a sudden change in the trend" of expanding trade with China and shrinking trade with the U.S., the official said.
The ministry also released trade data for December that may ease worries over Japan's current economic slowdown.
It showed the overall trade surplus expanded 1.8% from a year earlier to 1.142 trillion yen, beating the average forecast of 0.4% growth made by economists polled by Dow Jones and Nikkei News.
The data marked a pickup in Japan's trade surplus from the previous month. In November, Japan's trade surplus tumbled a revised 39.4% from a year earlier.
In December, Japan's total exports rose 8.8% on brisk demand for steel and chemical products, while imports were up 10.9% on growth in crude oil and coal imports.
The surplus with the U.S. increased 18.9% from a year earlier, the second consecutive month of increase. Its trade surplus with Asia fell 2.3%, decreasing for the second consecutive month, the ministry said.
作者：ceo/cfo 在 海归商务 发贴, 来自【海归网】 http://www.haiguinet.com
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 China has become Japan's largest trading partner. -- ceo/cfo - (3415 Byte) 2005-1-27 周四, 05:28 (819 reads)
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