August 22, 2008

Japanese construction machinery shipments to reach record levels

Japan’s industry data showed that construction machinery shipments in Japan are expected to hit an annual record in fiscal 2007 ending Monday.

The Japan Construction Equipment Manufacturers Association said that shipments totaled JPY 2,380.1 billion in the first 11 months through February, already exceeding the current record of JPY 2,300.6 billion posted in fiscal 2006. It added that the growth is led by robust exports to Asia and Europe.

In February alone, shipments rose by 19% YoY to JPY 226.6 billion rising for the 65th straight month. Exports grew by 30.1% to JPY 161.9 billion. But domestic shipments decreased by 1.8% YoY to JPY 64.8 billion marking a fall for three months in a row.