TOKYO (Kyodo) -- Japan's shipments of construction machinery in fiscal 2009 ending March are likely to stand at 1.04 trillion yen, marking a record fall of 47 percent from the previous year amid the global economic slump, an industry group said Friday.
But shipments in fiscal 2010 are expected to rise by 12 percent for the first increase in three years, led by exports to emerging economies such as China, the Japan Construction Equipment Manufacturers Association said.
On the decline in fiscal 2009, the association said construction machinery exports are expected to plunge 49 percent to 697.2 billion yen, reflecting weakening demand in the United States and Europe.
Domestic shipments are likely to drop 43 percent to 344.4 billion yen due to reductions in public works, housing starts and corporate investment, the association said.
The industry body is forecasting that exports will increase by 18 percent in fiscal 2010, while domestic shipments are likely to remain at the same level as fiscal 2009.