Japan's steel exports fell for the first time in three years

The latest trade data released by the Japan Iron and Steel Federation (JISF) shows that Japan's steel exports declined in 2014 from the previous year. For the first time in three years, the export of steel products from the country decreased in a year.

Exports of metal products decreased by 3.2 percent to 41.703 million tons in 2014 compared to 2013. Steel export earnings totaled 3,958.6 billion yen, up nearly 4.4 percent from the previous year.

Japan's steel exports to the Asian region totaled 32.303 million tonnes, more than three quarters of total exports in 2014. Exports to Asian countries fell 5.4 percent for the year. In addition, exports of steel products to China fell by almost 3.2 percent during the year. Other export destinations were the following countries: the USA (2.475 million tons, an increase of 9.0 percent), the Middle East (1.847 million tons, an increase of 8.8 percent), the EU countries (291 thousand tons, an increase of 0.3 percent) ) and Russia (125 thousand tons, an increase of 36.7 percent).

Japanese steel imports during 2014 amounted to 8.915 million tons. Imports from Asia reached 7.477 million tonnes, accounting for nearly 85 percent of Japan's total steel imports. Imports from Asian countries rose 23.5 percent during the year. Imports from China were significantly higher, rising 74.7 percent to 1.921 million tons. Imports from Russia also increased by 6.2 percent compared to a year earlier to 249 thousand tons.