Japanese-Russian trade turnover down 36% in June

Business & Economy July 20, 2023, 13:34

Imports fell as purchases of Russian liquified natural gas decreased by 21.4%

TOKYO, July 20. /TASS/. Trade turnover between Japan and Russia decreased by 36.68% in June year-on-year to 122.5 bln yen (or around $876.8 mln), according to TASS’ calculations based on data released by the Japanese finance ministry on Thursday.

In particular, exports to Russia rose by 29.3% to 51.51 bln yen (around $368.7 mln), while imports lost 53.8% to 70.99 bln yen (around $508.1 mln).

Exports to Russia grew amid a 60.3% increase in supplies of passenger cars. Transport vehicles account for almost 63% of all Japanese exports to Russia. Moreover, Japanese exports to Russia of plastics and rubber went up by 41% and 128% in June, respectively. Exports of Japanese medical products soared by 308.5%.

Imports fell as purchases of Russian liquified natural gas decreased by 21.4%. In value terms LNG imports lost 26.5%. LNG accounts for 57.3% of all imports from Russia.

Japan’s imports of vegetables from Russia fell by 78.1% last month, while imports of fish and seafood declined by 14.2%. That said, grain imports from Russia climbed by 445.2%. Moreover, Japan’s imports of Russian coal went down by 86.4% in the reporting period, steel - by 68.9%, non-ferrous metals - by 84%.

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