(Yicai Global) Feb. 19 -- Japanese exports to China surged nearly 31 percent on the year last month to almost JPY1.2 trillion (USD11 billion), a record high, after strong growth in the automotive and electronics sectors.
Imports from China fell 3.3 percent to JPY1.75 trillion as the trade deficit narrowed 36.5 percent, data from Japan’s Ministry of Finance shows. Japan’s trade balance with China has been in the red for 11 consecutive months.
Chinese demand for hybrid vehicles and engines was one of the core driving forces behind the rise in imported Japanese goods backed by semiconductor equipment, which makes up more than half of Japan’s exports.
The island nation’s total exports leapt 12 percent annually to mark 14 straight months of growth, while imports rose nearly 8 percent to give a JPY943-billion trade deficit, the country’s first global shortcoming since May 2017.