Sino-Japanese Trade Surpasses Japan-US Trade for the first time
For the first time Japan and China (sans Hong Kong) swapped more goods in one year than Japan and the US did.
Total trade with China amounted to $214.62 billion.
If Hong Kong is thrown into the picture, Japan and China/Hong Kong trade already surpassed Japan/US trade back in 2004.
Japanese exports were up 21% to $95.32 billion with semiconductor and electronic shipments being the strongest.
Imports from China were up 14%…led by auto and metal imports.
Simple math – Japan's trade deficit with China was $23.61 billion.
On the other hand…Japan continues to enjoy a a trade surplus with the United States…nearly $7billion in March alone.
How much does it matter that Japan and China are doing more business than Japan and the United States?
