News On Japan

Japan’s Oil Imports Collapse, Down 67.2% from Middle East in April

TOKYO - Japan’s imports of crude oil from the Middle East plunged 67.2% in April from a year earlier, as the impact of the effective closure of the Strait of Hormuz began to ripple through the country’s trade and energy supply chains.

According to April trade statistics released by the Finance Ministry, Japan posted a trade surplus of 301.9 billion yen, with exports exceeding imports overall.

The data showed the disruption in the Middle East had a major impact on energy imports, with crude oil shipments from the region falling sharply compared with April last year.

Total crude oil imports from all countries also dropped 63.7%, highlighting the broader strain on Japan’s energy procurement.

Imports of gasoline products, much of which consists of naphtha derived from crude oil, also declined significantly, with shipments from the Middle East down 79.4%.

Japan also appeared to be seeking alternative supplies, with crude oil imports from the United States rising nearly 40% by volume and imports of naphtha-related light petroleum products surging 206-fold from a low base.

Source: customs.go.jp

Source: TBS

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