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Japan-US container trade continues to decline   26/09/2023

According to Descartes Datamyne, Japan's US-bound container exports totalled 48,372 TEUs in August (based on volumes at ports of origin), a 7.2% decline from the same month in 2022. For the sixth month in a row, Japan to US box exports have continued to fall year on year.

Containers carried straight to the United States accounted for 32,256 TEUs, up 11.9% from the previous year, whereas those transshipped along the route fell 30.9% to 16,116 TEUs.

Furthermore, transshipment containers kept a 33.3% share, which has reverted to where it was two months ago. Containers transshipped in South Korea declined 33.1% to 10,228 TEUs, while those transported via transshipment in China fell 49.7% to 1,736 TEUs. Taiwan, on the other hand, was responsible for 2,305 TEUs, which improved 5%.

Machinery fell 5.9% to 12,009 TEUs, vehicle parts and components rose 7% to 10,446 TEUs and tires and other rubber products fell 9.9% to 6,063 TEUs.

Meanwhile, Japan's imports from the United States fell 14.8% year on year to 45,730 TEUs in July based on ports of destination, continuing a downward trend. Also, they shrank 6.1% from the previous month. Direct imports to Japan totalled 35,620 TEUs, a 19.2% decrease from the previous year, while 10,110 TEUs were transshipped in third nations and regions, a 5.3% increase and accounting for 22.1% of the total.

According to Descartes Datamyne, the decline in Japanese imports to the United States is due to the yen's depreciation.

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