In July 2023, trade between Japan and Russia fell 51 percent year on year to 104,728 billion yen (approximately $715 million), according to analysis data from the Japanese Ministry of Finance. TASS.
Despite the 25% increase in exports from Japan to Russia, caused by the significant increase in automobile supply, the trade turnover fell. In the period before the ban on the export of gasoline and diesel vehicles and hybrid vehicles with engines larger than 1.9 liters, vehicle deliveries to Russia increased by 84% compared to July 2022 and increased by 53% compared to the annual average. This category of goods accounts for about 73% of all Japan’s exports to Russia.
However, imports fell significantly by 69.6% due to the decline in purchases of liquefied natural gas and coal from Russia, which account for about 60% of all exports from Russia to Japan. In addition, there is a 35.3% reduction in Russian fish imports, which currently accounts for 14.1% of Japan’s imports from Russia, as well as iron, steel and iron, which accounts for about 20% of all imports from Russia. A decrease in non-metal purchases had a negative impact on Russia.
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