Japanese exports to China fall amid island row

Beijing, Nov 22 (IANS) Japanese exports to China continued to decline in October amid tension over the Diaoyu Islands, a media report said Thursday.

Japanese shipments to China, its largest export market, slumped 11.6 percent year−on−year in October to 948 billion yen (about $11 billion), compared with a 14.1 percent year−on−year drop in September, according to Japan’s finance ministry.

Japanese imports from China rose by 3.6 percent year−on−year to 1,354 billion yen, yielding a trade deficit of 406.5 billion yen, the eighth consecutive monthly deficit, China Daily reported.

China’s slowing economic growth this year reduced demand for Japanese products, while the EU debt crisis and the US economic downturn damped Japanese exports.

“The territorial dispute over the Diaoyu Islands and Chinese consumers’ boycott of Japanese brands further affected Japanese exports,” said Jin Baisong, deputy director of of a government think tank.

IANS 2012-11-22 16:36:05