Material Shipments to China Soar

While total exports in March fell by 45% year on year, Japan's exports of industrial materials are showing a strong recovery, thanks to rising demand from China and other Asian economies. According to the Nikkei Daily, March exports of low-density polyethylene for packaging materials leaped 120% year on year, while shipments of polypropylene expanded 74%. Shipments of used paper and iron scrap are up 67% and 58% respectively, both reaching their all-time highs. Japan's exports of construction-use materials, such as steel bars and cement, to South Korea and Southeast Asian countries are also increasing.

Approximately 40% of Japanese exports are shipped to Asian countries with China being Japan's largest trading partner in recent years.