News Column

Japan wary of declining export competitiveness

June 5, 2014

The Japanese government expressed concern in a report on manufacturing released Friday over the nation's declining export competitiveness, as electronics makers struggle to boost profits amid fierce battles with foreign rivals.

The trade surplus generated by electronics makers, which has long been a pillar of the country's export-reliant economy, plunged last year by around 80 percent compared with 2005 amid increased imports of mobile phones and other electronic devices made by such companies as Apple Inc. and Samsung Electronics Co., according to the report.

"Exports are becoming less resilient despite the yen's weakening," which is supposed to boost the competitiveness of the country's exports, the report added.

Looking ahead, the government encouraged Japanese manufacturers to direct more resources to promising new fields, such as next-generation environmentally friendly vehicles, regenerative medicine as well as cutting-edge robots.

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Source: Japan Economic Newswire

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