Hisane Masaki, Special Correspondent | Dec 29, 2011 10:35AM EST
Japan’s containerized cargo exports will decline 2.3 percent in the 2011 fiscal year ending March 31, 2012, with the global economic slowdown, the rising value of the yen and the impact of Asia’s natural disasters limiting demand for Japanese goods, a Tokyo-based research firm says in a new report.
Nittsu Research Institute and Consulting projects volume will fall to 5.19 million 20-foot-equivalent units after 9.2 percent growth in the 2010 fiscal year, which saw only limited impact from the catastrophic March 2011 earthquake and tsunami in Japan.
NRIC said containerized cargo exports from nine major Japanese ports should regain growth on a year-on-year-basis in fiscal 2012, reflecting a sharp decline in the first half of fiscal 2011 due to supply chain disruptions caused by the March twin natural disasters.
But the pace of growth in fiscal 2012 will be a mild, 3.8 percent due to a further slowdown in the global economy and the continued strength of the Japanese currency, which makes Japanese products more expensive abroad, NRIC said.
NRIC is a subsidiary of Nippon Express Japan’s largest international freight forwarder.
According to NRIC’s report, containerized cargo imports at the nine major Japanese ports are projected to rise 5.9 percent in fiscal 2011, to 7.415 million TEUs after increasing a robust 12.6 percent in the previous fiscal year. The pace of growth is projected to further slow to 4.3 percent in fiscal 2012.
The nine ports, which include the Port of Tokyo, the Port of Yokohama, the Port of Nagoya, the Port of Osaka and the Port of Kobe, account for about 90 percent of Japan’s total containerized cargo trade.
According to NRIC’s report, air cargo exports are projected to tumble 7.9 percent in fiscal 2011 to 1.04 million tons, after soaring 14.3 percent in fiscal 2010. Air cargo exports are projected to post paltry growth of 0.2 percent in fiscal 2012.
Air cargo imports are projected to edge down 1.4 percent in fiscal 2011 to 1.205 million tons after surging 14.5 percent in fiscal 2010. Air cargo imports are projected to increase 1.7 percent in fiscal 2012.
NRIC was established in 1961 as the first comprehensive research organization in Japan dealing with problems of business logistics and related issues, according to the company.
Contact Hisane Masaki at yiu45535@nifty.com.