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Japans chemicals exports grew 6.7%

April 20/2011

(ICIS) -- Japans chemicals exports grew 6.7% year on year to USD 7.88bn in March while overall exports declined for the first time in 16 months, falling 2.2% from a year ago, data from the Ministry of Finance showed on Wednesday. Exports of organic chemicals rose 12.1% year on year to Y194.5bn in March, but plastics exports slipped 1.1% to Y206.5bn, the preliminary trade data showed. Japanese export volumes of plastic materials fell 5.6% year on year to 610,269 tonnes in March, according to the data.

Meanwhile, exports of motor vehicles slipped 27.8% year on year to Y601.5bn in March, making it the largest contributor to the decline in total exports, according to the data.

The Japanese automobile industry has been affected by the massive earthquake and tsunami that hit the northeast region of the country on 11 March, with automakers struggling to restore pre-quake production levels on the back of power cuts and parts shortages.

All of Japans major car production facilities are operating again, but many car factories are running at lower production rates, according to local media reports.

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