Containerised shipments traded between Japan and China plunged 17.6% from a year earlier to 689,214tonnes in February, according to figures that the Japan Maritime Center (JMC) compiled from trade statistics provided by the Ministry of Finance (MOF).
Notable decreases in wastepaper, organic chemicals, nappies and other commodities made the route incur a year-on-year decline for 12 months in a row. In terms of value, trade shrank 7.9% to ¥607.6 billion (US$5.7 billion), registering a year-on-year contraction for three months running.
Japan International Freight Forwarders Association (JIFFA) reported that imports from China plummeted 47.4% to 761,655tonnes, resulting from remarkable falls in most major items. Lowering year on year for the fifth consecutive month, they hit a record low for the month of February. On a value scale, they sank 55% to ¥403.6 billion (US$3.8 billion), suffering a year-on-year shrinkage for eight straight months.
