23 Jan, 06:58

Trade turnover between Japan, Russia down 21.8% in 2024

Japanese cars and Russian energy resources still account for the largest portion of trade turnover between the two countries, reaching over 64% of total exports from Japan to Russia and around 63% of total imports from Russia to Japan, respectively

TOKYO, January 23. /TASS/. Trade turnover between Japan and Russia fell by 21.8% in 2024 year-on-year to 1.18 trillion yen (around $7.56 bln at the current exchange rate), according to TASS’ calculations based on data released by the Japanese finance ministry.

In December, trade turnover between the two countries dropped by 26.09% year-on-year. Imports from Russia to Japan decreased by 16.7% in 2024 to 860.3 bln yuen ($5.5 bln), while exports from Japan to Russia lost 17.2% to 327.6 bln yuen ($2.09 bln). In December, imports from Russia to Japan plunged by 32.8%, while exports from Japan to Russia grew by 10.3%.

Japanese cars and Russian energy resources still account for the largest portion of trade turnover between the two countries, reaching over 64% of total exports from Japan to Russia and around 63% of total imports from Russia to Japan, respectively.

Japan’s import of liquefied natural gas (LNG) from Russia fell by 7.3% in 2024 and by 34.4% in December 2024. Tokyo’s purchases of Russian coal also decreased - by 64.7% and by 28.7%, respectively.

Japan’s export of passenger cars to Russia slipped by 6.3% in 2024 compared with 2023, and by 10.4% in December 2024 year-on-year. Japan’s export of spare parts and components for cars to Russia went down by 6.8% last year and up by 4.4% last month.

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