Japan's October exports of electronic components dropped by 10% to 20%

According to Japanese media reports, Japan’s Ministry of Finance recently announced Japan’s trade statistics report in October. The European debt crisis has led to a slowdown in the world economy that has begun to affect Japan’s exports. In addition, the yen has risen to historical highs and companies have accelerated their shift overseas, causing Japanese products to the European Union. Exports to the United States and Asia both declined, falling by 2.3%, 2.9%, and 6.6% respectively. In October, exports were 551.28 billion yen, a year-on-year decrease of 3.7%, and imports were 578.66 billion yen, an increase of 17.9%. The trade deficit was 273.8 billion yen, compared with 812.6 billion yen in the same period last year, and a deficit occurred again two months later.

The report shows that exports such as electronic products have fallen most significantly, with semiconductors and Other electronic components falling by 20%. The significant increase in imports of crude oil and liquefied natural gas, which is also the main reason for the recurrence of the trade deficit in October.