According to the provisional data released by the Japanese Ministry of Finance, in 2012 Japan's iron and steel product exports amounted to 42.1 million metric tons, increasing by 3.1 percent compared to 2011, while these exports generated a value of JPY 3.5 trillion ($39 billion), decreasing 5.8 percent compared to 2010.
In 2012, Japan's iron and steel product exports to the US increased by 22 percent to 2.4 million metric tons, its exports to the EU decreased by 26.5 percent to 367,000 metric tons, while iron and steel exports to China decreased by 11.7 percent to 6 million metric tons, exports to the Middle East rose by 34.7 percent to 2 million metric tons, and iron and steel exports to the ASEAN countries rose by 13.9 percent to 12.8 million metric tons, all compared to 2011.
Meanwhile, Japanese iron and steel product imports amounted to 7.7 million mt in 2012, decreasing 3.4 percent compared to the previous year, with a value of JPY 807 billion ($9 billion), down 14.6 percent year on year. Japan's iron ore and concentrate imports last year amounted to 131 million mt, up by 2.1 percent year on year, with a value of JPY 1.5 trillion ($16.75 billion), falling 10.2 percent compared to 2011.