China-Japan trade hits new record
29 August 2006
Sino-Japanese bilateral trade jumped 9.9% to US$99.2 billion during the first six months of the year, Japan's External Trade Organization figures show. It is the seventh year in a row bilateral trade has reached record heights despite diplomatic frictions. Bilateral trade is expected to hit US$200 billion this year. Japanese exports rose 15.3%, double the growth rate in 2005, to US$42.8 billion. Car parts and digital home appliances were the top exports. Meanwhile, Chinese exports rose 6.1% to US$53.6 billion, a considerable slowdown due to a slump in the steel trade. Japan's trade with China accounted for 16.8% of its external trade in the first half of the year.
