Japan Steel Export Drops by 11.1% in 1H F2009

Japanese steel export decreased by 11.1% to 17.239 million tonnes in first half of fiscal 2009 ended September from same period of fiscal 2008, announced by Ministry of Finance on Thursday. The export hit first drop as first half of fiscal year since first half of fiscal 2005 due to lower export except for China and Middle East. The trade figure decreased both for volume and value in export and import.

The export value decreased by 42.6% to 1.388 trillion yen in the first half year from same period of fiscal 2008. The export value decreased for all areas. The import decreased by 54.1% to 1.868 million tonnes, which decreased for 2 years in a row as first half base, and by 68.8% to 204.625 billion yen. The import volume decreased except from Middle East while the import value decreased from all areas.

The export volume increased by 4.4% to 3.547 million tonnes in September from a year earlier while the export value decreased by 44.3% to 266.399 billion yen. The import decreased by 31% to 358,763 tonnes and by 65.3% to 35.788 billion yen.

The steel trade plunged under worldwide slow economy since Lehman Shock in September 2008. The export decreased sharply both in volume and value under higher yen rate.

The export volume decreased by 44.2% for USA, by 36.4% fro European Union and by 8.2% for Asia in the first half from same period of fiscal 2008. The export decreased by 3.4% to Asian NIES and by 26.2% to Association of Southeast Asian Nations while the export to China increased by 3.7%.

The import decreased by 65.2% from USA, by 39.4% from EU and by 50.4% from Asia in the first half from same period of fiscal 2008. The import decreased by 68.2% from China and by 76% from ASEAN.