Russian imports to Japan decreased by 29.4% to 1.08 trillion yen ($9.9 billion) in the fiscal year to March 31, with the bilateral trade overall significantly shrunk year-on-year, the Japanese Finance Ministry said on Monday
TOKYO (Pakistan Point News / Sputnik - 19th April, 2021) Russian imports to Japan decreased by 29.4% to 1.08 trillion Yen ($9.9 billion) in the fiscal year to March 31, with the bilateral trade overall significantly shrunk year-on-year, the Japanese Finance Ministry said on Monday.
Japanese exports to Russia fell by 15.5% to 634.87 billion yen, according to the ministry's report.
The drop in bilateral trade was the most significant in manufactured goods and transport equipment, including cars and parts - 18.3% and 20.4%, respectively.
Japan has notably reduced the import of Russian mineral fuels (40.3%), raw materials (25.2%) and foods (20.9%), the report indicated. In contrast, the import of Russian machinery equipment increased by a whopping 81.4%.
According to experts, the COVID-19 pandemic and trade restrictions are the main reasons behind the drop in trade.
