Japan's semiconductor exports to China decreased by 16.8% year-on-year in July
According to Bloomberg, Japan's exports have experienced their first decline in over two years due to declining demand from several major overseas markets, indicating resistance to economic recovery.
The Japanese Ministry of Finance recently reported that Japan's export volume decreased by 0.3% year-on-year in July, marking the first decline since February 2021. Economists had previously predicted a decrease of 0.2%. In addition, Japan's imports fell for the fourth consecutive month, a decrease of 13.5% compared to the previous year, marking the largest decline since September 2020. Economists had previously expected a 15.2% decline.
The report states that export data continues to highlight the imbalance in overseas economic conditions. The shipment volume to the United States increased by 13.5% year-on-year, and the shipment volume to Europe increased by 12.4% year-on-year.
At the same time, Japan's exports to its major trading partner China fell by 13.4%, marking the largest decline since January. This is also the eighth consecutive month of a decline in exports to China, and this trend may continue as economic activity cools.
The shipment volume of automobiles, chips, and chip components has decreased by two digits. Specifically, according to data from the Ministry of Finance of Japan, Japan's exports of electronic components such as semiconductors to China decreased by 16.8% year-on-year in July, while automobile exports decreased by 23.5%. In addition, in July, Japan's imports of semiconductors and other electronic components from China decreased by 28.2% year-on-year.
The Japanese Ministry of Finance recently reported that Japan's export volume decreased by 0.3% year-on-year in July, marking the first decline since February 2021. Economists had previously predicted a decrease of 0.2%. In addition, Japan's imports fell for the fourth consecutive month, a decrease of 13.5% compared to the previous year, marking the largest decline since September 2020. Economists had previously expected a 15.2% decline.
The report states that export data continues to highlight the imbalance in overseas economic conditions. The shipment volume to the United States increased by 13.5% year-on-year, and the shipment volume to Europe increased by 12.4% year-on-year.
At the same time, Japan's exports to its major trading partner China fell by 13.4%, marking the largest decline since January. This is also the eighth consecutive month of a decline in exports to China, and this trend may continue as economic activity cools.
The shipment volume of automobiles, chips, and chip components has decreased by two digits. Specifically, according to data from the Ministry of Finance of Japan, Japan's exports of electronic components such as semiconductors to China decreased by 16.8% year-on-year in July, while automobile exports decreased by 23.5%. In addition, in July, Japan's imports of semiconductors and other electronic components from China decreased by 28.2% year-on-year.
