Politician says Russia vs Mexico football game will be interesting to watchSport June 23, 21:11
Kyrgyz president sees revival of relations with Russia as major result of his tenureWorld June 23, 20:49
Ex-premier says initiative to impeach Poroshenko stems from Ukraine’s economy collapseWorld June 23, 20:20
This week in photos: Confederations Cup opening and summer solstice celebrationsSociety & Culture June 23, 19:11
Turkish ambassador to Russia: Moscow and Ankara to join efforts in war on terrorWorld June 23, 18:45
Ukraine’s finance ministry files appeal to London Court against Russia in $3 bln debt caseBusiness & Economy June 23, 18:42
Ukrainian society tired of Poroshenko’s policy — expertRussian Politics & Diplomacy June 23, 17:58
Deutsche Welle sees Russian international broadcasters as threat to European ideasWorld June 23, 17:34
Watchdog claims Telegram provides means of communication to terroristsBusiness & Economy June 23, 16:45
TOKYO, September 1. /TASS/. Trade between Japan and Russia can once again demonstrate growth after a decline by 30.7% last year, due to a tendency to diversify imports and exports, experts from the Japan Association for Trade with Russia and the Newly Independent States’ (ROTOBO) research institute told Tass on Thursday.
"From the start of the 2000s, trade between Russia and Japan had been steadily growing, but it slumped in 2015 under the influence of low oil prices and weakening of the ruble," the research institute of economy of Russia and newly independent states said in a commentary.
"However, we believe that it can once again demonstrate growth in the long-term prospect," the commentary said.
According to Japanese specialists, a tendency towards diversification of imports and exports can play its positive role. "At first sight, the structure of Russian-Japanese trade can be characterized as ‘Japan is exporting to Russia vehicles and imports natural resources’. But taking a look at other products in trade between the two countries, we will see an emerging tendency towards diversification," experts said.
"For example, Japan has started importing from Russia agricultural products, while Russia began importing small industrial machinery and components. So far these are not big amounts, but the very fact of this changeover is positive," the institute said.
According to the Russian Federal Customs Service, last year trade between Russia and Japan made up $21.3 billion, which is 30.7% less than $30.8 billion of the year 2014. Russian exports exceeded imports by $7.7 billion. Russia is placed 15th among Japan’s foreign trade partners, accounting for 1.6% of Japan’s foreign trade. Japan is placed seventh among Russian trade partners with its share of 4.1%.
More than 80% of Russian exports to Japan is mineral fuel. Among other exports items are aluminum and articles made from it, timber and charcoal, precious stones, precious and ferrous metals, caoutchouc and rubber.
Russia is importing from Japan vehicles and spare parts (more than 50% of imports), reactors, boilers, equipment and machines (19%), as well as electrical machines and equipment, photo cameras, plastic materials and articles from ferrous metals.