Japan Steel Export Drops by 31.5% in 1H

Japanese steel export decreased by 31.5% to 13.584 million tonnes in January-June from same period of 2008, announced by Ministry of Finance on Thursday. The export value decreased by 37% to 1.355 trillion yen. The import decreased by 54.4% to 1.796 million tonnes and by 54% to 246.278 billion yen. The steel trade hit major drop both in export and import due to worldwide recession.

The export decreased for all countries and areas both in volume and value in January-June from same period of 2008. The drop was the widest in the history. The import also decreased from all countries and areas except from Middle East in volume and the value decreased by more than 50% from all countries and areas.

The export volume decreased by 32.9% to USA, by 50.6% to European Union and by 31.3% to Asia in January-June from same period of 2008. The export decreased by 18.5% to China, by 26.9% to Asian NIES and by 50.3% to Association of Southeast Asian Nations. The export value decreased by 28.2% to USA, by 33.8% to EU and by 40.6% to Asia. The export value decreased by 29.4% to China, by 41% to Asian NIES and by 51.1% to ASEAN.

The import volume decreased by 65.4% from USA, by 40% from EU and by 54% from Asia in January-June from same period of 2008. The import decreased by 67.3% from China. The import value decreased by 47.4% from USA, by 45.3% from EU and by 57.8% from Asia. The import value from China decreased by 74.1%.

The steel export decreased by 11.1% to 2.845 million tonnes in June from a year earlier. The export value decreased by 38.7% to 235.081 billion yen. The import deceased by 65.3% to 263,797 tonnes and by 74.7% to 29.726 billion yen.