TOKYO: Global exports in 2014 inched up 0.8 percent from the previous year to an estimated $18.75 trillion, hitting a record high for the fourth straight year, according to data released by the Japan External Trade Organization.
Exports soared for mobile phones and other communication devices, and chipmaking equipment. By contrast, exports of iron ore and coal declined, reflecting a slump in global market prices, according to JETRO’s annual Global Trade and Investment Report. The growth in overall exports slowed from 2.7 percent in 2013.
By country, China ranked top, with its 2014 exports rising 6 percent to $2.34 trillion, followed by the United States with $1.62 trillion, up 2.7 percent, and Germany with $1.51 trillion, up 3.8 percent. Japan came fourth with $694.2 billion, down 3.5 percent.
The report also showed that Japan’s direct investment abroad in 2014 fell 18.6 percent to $119.7 billion, after a surge in 2013 backed by large-scale investment projects including Bank of Tokyo-Mitsubishi UFJ’s acquisition of Bank of Ayudhya in Thailand.
Foreign direct investment in Japan increased 22.5 percent to $9.1 billion, up for the third consecutive year, due to increases in investment from Hong Kong, Singapore, and Taiwan.
