Turnover Between Russia, Japan Down 11% In First Quarter of 2021

The turnover between Russia and Japan is down 11% in the first quarter of 2021 compared to the corresponding period of last year, the data published by the Japanese Finance Ministry on Monday informs, TASS reported.

According to the ministry, the trade volume between both countries from January to March has reached 474.2 bln yen ($4.3 bln). This trend is caused by the pandemic and coronavirus-related restrictions.

In the past fiscal year (from April 2020 to March 2021 in Japan) the turnover between both countries dropped by 33% to 1.72 trln yen. Export of Japanese goods is down 15.5% in this period, and import from Russia is down 29.4%. Export of Japanese cars to Russia has dropped by 20%.

Meanwhile, the overall volume of export of Japanese goods in March 2021 grew by 16.1% reaching 7.38 trln yen ($68 bln). This is the highest monthly increase in the past three years. Mainly, this is due to the record volume of export to China, which reached 1.63 trln yen ($14 bln).