Japan Steel Export Drops by 11.2% in F2008

Japanese steel export decreased by 11.2% to 33.814 million tonnes in fiscal 2008 ended March 2009 from fiscal 2007, announced by Ministry of Finance on Wednesday. The export value hit record 4.227 trillion yen, which was 2% higher than fiscal 2007. The import decreased by 10.8% to 7.018 million tonnes and by 16.3% to 1.122 trillion yen.

The export volume decreased for all major areas in fiscal 2008 from fiscal 2007 while the export increased by 3.9% to European Union. The export volume decreased by 11.6% to Asia and the export decreased by 6.1% to China. The export value increased by 7% to USA and by 2.2% to Asia while the value decreased by 0.1% to EU. The export value increased by 1% to China.

The import volume increased by 62.1% from Association of Southeast Asian Nations in fiscal 2008 from fiscal 2007. The export volume decreased to other areas and deceased by 9.3% from Asia and by 5.1% to from China. The import value increased by 15.2% from Asia and by 26.4% from China while the value decreased by 19.6% from USA and by 17.7% from EU.

The export volume decreased by 32.8% to 2.594 million tonnes in March from a year earlier. The export value decreased by 32.3% to 274.818 billion yen. The import decreased by 49.5% to 284,587 tonnes and by 42.6% to 41.191 billion yen.