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Trade turnover between Japan, Russia down 41.65% in 1H 2023

Imports of liquified natural gas (LNG) from Russia slipped by 16.5% in the period, while Japan’s imports of petroleum products plunged by 94.2%

TOKYO, July 20. /TASS/. Trade turnover between Japan and Russia decreased by 41.65% in the first half of 2023 year-on-year to 806.8 bln yen (or around $5.7 bln), according to TASS’ calculations based on data released by the Japanese finance ministry on Thursday.

Exports to Russia fell by 17% to 239.9 bln yen (around $1.7 bln), while imports lost 48.2% to 566.9 bln yen (around $4 bln).

Japan’s exports of passenger cars to Russia grew by 32.8% in the first six months of 2023 year-on-year. At the same time, Japan’s exports of buses and trucks to Russia decreased by 26% in the reporting period, while supplies of spare parts and components for cars went down by 52.7%.

Imports of liquified natural gas (LNG) from Russia slipped by 16.5% in the period, while Japan’s imports of petroleum products plunged by 94.2%. Tokyo together with G7 has imposed the price ceiling on Russian oil excluding supplies from Sakhalin-2 that are related to LNG deliveries from the project.

Japan’s imports of grain from Russia soared by 509.7% in 1H 2023 year-on-year. Exports of medical products from Japan to Russia climbed by 815%. Meanwhile, imports of vegetables from Russia decreased by 56.7%. Japan’s imports of coal also fell - by 73%.

Moreover, Japan’s exports of computers to Russia went down by 86.6%, while exports of audio and video hardware lost 45.8%. Supplies of steel and nonferrous metals declined by 94.9% and by 93.4% in the reporting period.

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