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Russia-Japan trade turnover falls by 45.3% in 2023

The key cause for the fall in trade turnover between the two countries was the Japanese side's restrictive measures implemented in light of the situation in Ukraine

TOKYO, January 24. /TASS/. Trade turnover between Russia and Japan in 2023 decreased by 45.3% to 1.43 trillion yen (around $9.6 bln at the current exchange rate), according to TASS calculations based on statistics published by the Japanese Ministry of Finance for 2023.

In December 2023, trade turnover between the two countries fell by 14.4% year-on-year. Imports from Russia to Japan fell by 47.2% in 2023, totaling 1.04 trillion yen ($7.02 bln). Exports from Japan to Russia fell by 34.5% to 395.5 bln yen ($2.67 bln). In December 2023, these figures fell by 12.3% and 65.6%, respectively.

The key cause for the fall in trade turnover between the two countries was the Japanese side's restrictive measures implemented in light of the situation in Ukraine.

At the same time, last year, Japan considerably expanded its grain imports from Russia, increasing it by 381.8%. Exports of medical goods and products from Japan to Russia increased by 418.8% year-on-year.

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