Japan's iron and steel product exports down 3.1 percent in 2014

In December last year, Japan's iron and steel product exports amounted to 3.8 million metric tons, increasing by 15.4 percent month on month and up 7.9 percent year on year, while Japan's iron and steel product imports totaled 729,079 metric tons, with a month-on-month growth of 8.4 percent and a year-on-year decrease of 3.2 percent, according to the customs statistics released by the Japanese Ministry of Finance (JISF).
 
In 2014, Japanese iron and steel product exports amounted to 42.09 million mt, decreasing by 3.1 percent, while Japanese iron and steel product imports came to 9.3 million mt, increasing by 20 percent, both compared to 2013.
 
Regarding Japan's major iron and steel product export markets, last year the country's iron and steel exports to South Korea totaled 7.3 million mt, down 7.1 percent, while exports to China decreased by 3.1 percent to 5.9 million mt, the export volume to Taiwan amounted to 3.44 million metric tons, down 10.6 percent, exports to Thailand totaled 5.55 million metric tons, up 0.4 percent, while exports to the US totaled 2.55 million metric tons, increasing by 8.6 percent, all compared to 2013.
 
In 2014, Japan imported 4.08 million metric tons of iron and steel products from South Korea, up 12.4 percent, it imported 2.13 million metric tons from China, up 61 percent, while imports from Taiwan rose to 1.16 million metric tons, increasing by 5.8 percent, all compared to 2013.