Exports and Imports of Ship Machinery and Equipment
Exports
The value of Japan's exports of ship machinery and equipment in 1995 totaled 142.8 billion yen. This figure only matched that of the previous year despite the fact that volume of exports of major export items rose. This was due to the fact that yen-quoted product prices dropped. The total value of the national output of ship machinery and equipment was 819.0 billion yen. Exports accounted for 17 percent of this figure, one percent higher than the year before.
A breakdown of exports in 1995 by product item shows outboard motor shipments increased 4 percent over the previous year to 44 billion yen. The figure for marine diesel engines was 27.9 billion yen, up eight percent over the preceding year. Spurred by the growth in exports of marine diesel engines, exports of parts and accessories rose 18 percent to 27.3 billion yen. The value of exports of nautical equipment dropped five percent from the previous year to 22.6 billion yen. These four categories together constituted 85 percent of the total export value.
The lack of growth in total export value can be largely attributed to substantial declines in the export values of marine auxiliary machinery and marine containers, to 6.8 billion yen and 6.2 billion yen respectively. Exports of marine auxiliary machinery dropped by 42 percent, while marine container exports fell 14 percent.
The three major export destinations, Europe, Asia and North America, together accounted for 90 percent of the total export value. Europe-bound exports mainly comprised nautical instruments and medium-size or small diesel engines. Exports to Asian countries were mainly medium-size and small diesel engines and their parts, while outboard motors were the principal item exported to North America.
Imports
Imports of ship machinery and equipment by Japanese shipyards in 1995 were worth 18.2 billion yen (up 10 percent over the previous year), registering year-to-year growth for the second consecutive year, reflecting the effect of the high yen to encourage shipbuilders' outsourcing options.
The value of imports by ship machinery manufacturers (those with ten regular employees or more), which had been increasing along with the appreciation of the yen - from 4.5 billion yen in 1992 to 5.8 billion yen in 1993 and 10.2 billion yen in 1994-levelled off in 1994 and 1995. Imports in 1995 dropped one percent from the previous year to 10.1 billion yen. This levelling off reflected increased procurement costs, the adjustment of the high value of the yen, and limited supply capacities of overseas manufacturers.
