Japan Narrowing Trade Gap, Exports To China Shine
Japan Narrowing Trade Gap, Exports To China Shine
China, the US, and Western Europe remained Japan's top export destinations. Exports to China rose by 1.5%, supported by semiconductor demand despite a sharp drop in transport equipment. Exports to the US and Western Europe, however, fell by 6.2% and 7.2%, respectively, reflecting cooling demand for machinery and transport equipment.MIDF Amanah Investment Bank Bhd (MIDF Research) reported a notable recovery in Japan's trade performance for October 2024, driven by a surge in semiconductor-related exports to China. Exports grew by 3.1% year-on-year, reversing a 1.7% decline in September, reaching a three-month high of JPY9.4 trillion.
MIDF Amanah Investment Bank Bhd (MIDF Research) 報告稱，2024年10月日本的貿易表現顯著恢復，這得益於對中國半導體相關出口的激增。出口同比增長3.1%，扭轉了9月份1.7%的下降，達到90.4萬億日元的三個月高點。
Imports rose modestly by 0.4% year-on-year to JPY9.9 trillion, resulting in a significantly narrower trade deficit of JPY461.3 billion, down 34.4% from the previous year. The recovery in exports was led by the chemicals sector and semiconductor machinery, with semiconductor machinery exports surging by 42.6% year-on-year, while integrated circuits exports grew by 1.6%.
進口同比小幅增長0.4%，達9.9萬億日元，導致貿易赤字顯著縮小至4613億日元，比去年下降34.4%。出口的恢復主要由化學品板塊和半導體機械推動，半導體機械的出口同比激增42.6%，而特斯拉-集成電路的出口增長了1.6%。
However, export performance was partially offset by declines in transport equipment (-4.4%) and mineral fuels (-39.0%). On the import side, a contraction in mineral fuels (-11.5%) was attributed to falling fuel costs, while machinery imports increased by 12.5%, buoyed by strong demand for computers and related units.
然而，出口表現部分受到運輸設備（-4.4%）和礦物燃料（-39.0%）下滑的抵消。在進口方面，礦物燃料（-11.5%）的收縮歸因於燃料成本的下降，而機械進口則增加了12.5%，受益於計算機及相關設備的強勁需求。
China, the US, and Western Europe remained Japan's top export destinations. Exports to China rose by 1.5%, supported by semiconductor demand despite a sharp drop in transport equipment. Exports to the US and Western Europe, however, fell by 6.2% and 7.2%, respectively, reflecting cooling demand for machinery and transport equipment.
中國、美國和西歐仍然是日本最大的出口目的地。對中國的出口增長了1.5%，儘管運輸設備大幅下滑，但半導體需求仍然支持出口。對美國和西歐的出口分別下降了6.2%和7.2%，反映出機械和運輸設備的需求降溫。
In the context of Malaysia, Japan's exports grew by 3.7% year-on-year, while imports surged 11.2%. Currency fluctuations played a role, as Malaysia's exports to Japan moderated by 0.4% year-on-year in ringgit terms, while imports from Japan declined by 4.5%.
在馬來西亞的背景下，日本的出口同比增長了3.7%，而進口激增11.2%。貨幣波動起了作用，因爲馬來西亞對日本的出口按林吉特計同比減少了0.4%，而從日本的進口則下降了4.5%。
MIDF Research noted the sustained global demand for semiconductors, which continues to underpin Japan's export recovery. Given Malaysia's recent growth in electrical and electronics (E&E) exports, MIDF Research maintains a positive outlook for Malaysia's external trade in the near term, supported by the ongoing recovery in the semiconductor sector.
MIDF研究指出，持續的全球對半導體的需求仍在支持日本的出口恢復。考慮到馬來西亞近期電氣電子（E＆E）出口的增長，MIDF研究對馬來西亞近期的外貿前景保持積極 outlook，得益於半導體板塊的持續恢復。
However, uncertainties surrounding potential US protectionist policies under President-elect Donald Trump remain a key risk to Japan's trade prospects, particularly for machinery and transport equipment exports.
然而，關於當選總統特朗普可能實施的美國保護主義政策的不確定性仍然是日本貿易前景的一個關鍵風險，特別是對機械和運輸設備的出口。
