Volume of Russian-Japanese trade reached $2.77bn in 2002

The volume of trade between Russia and Japan reached $2.77bn in 2002. Russian exports amounted to $1.8bn, and imports reached $976.5m. The volume of trade between the two countries in 2001 reached $4.59bn, including exports of $3.87bn and imports of $719.3bn, Russia's Economic Development and Trade Ministry reported with reference to information from the State Customs Committee of Russia.

Russia's share in Japan's overall trade volume is 0.6 percent. The corresponding proportions for exports and imports are 0.18 percent and 1.1 percent respectively. The structure of Russian exports to Japan, in which products with a low degree of processing, food and raw materials are still prevalent, has not undergone any substantial changes since 2001. As before, the main exports are non-ferrous and precious metals (36.6 percent of the value of exports), sea products (about 27 percent), timber products (11 percent), and fuel (12.8 percent).

The main goods imported from Japan are machines and equipment, vehicles, road construction and building equipment, electric home appliances, metalworking equipment, and means of telecommunication. The Economic Development and Trade Ministry pointed out that the fuel and energy industry had become a strategic sector of Russian-Japanese economic cooperation. The most prospective aspect of cooperation is the implementation of the Sakhalin-1 and Sakhalin-2 oil and gas projects.

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