China-Japan trade volume drops after dispute on islands

The deterioration in Chinese-Japanese political relations has resulted in a slump in trade

China-Japan trade volume drops after dispute on islands

World Bulletin / News Desk

According to data from China's Ministry of Commerce, the value of goods and services between China and Japan hit $312 billion in 2013, down 5.1 percent from 2012.

China's trade with Japan fell for the first time in three years in 2012. Bilateral trade in 2012 decreased by 3.9 percent year to $329 billion.

China's Ministry of Commerce spokesperson Shen Danyang said, “The drop in trade volume between China and Japan was mainly caused by economic factors, but also bilateral relations have casted shadows on trade relations” adding, “Japan needs to properly handle issues between the two countries, and provide a proper environment for the development of China-Japan economic ties.”

Relations between China and Japan have been strained by a territorial row over a group of islands known as the Senkaku islands in Japan and the Diaoyu islands in China located in the East China Sea.

Shen said Japan's wrong-doings, including trying to buy the disputed islands and a recent visit to a temple is to blame for the deterioration of China-Japan relations, both politically and economically. Japanese Prime Minister Shinzo Abe visited the Yasukuni Shrine in Tokyo last month which honors war criminals executed after World War II. The move met strong opposition and condemnation from the Chinese government.

Official data shows that China’s annual trade in goods passed the $4 trillion mark for the first time last year landing its position as the world’s biggest trading nation. The European Union was China’s biggest trading partner and followed by the United States, the Association of Southeast Asian Nations, Hong Kong and Japan.

Last Mod: 22 Ocak 2014, 13:37
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