Japan - Crude Petroleum Oil - Market Analysis, Forecast, Size, Trends And Insights
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View PricingJapan's Crude Oil Imports Drop 20% to $80.9 Billion in 2023
Japan Crude Oil Imports
In 2023, the amount of crude petroleum oil imported into Japan reduced to 125M tons, with a decrease of -5.6% compared with the previous year's figure. In general, imports showed a pronounced reduction. The growth pace was the most rapid in 2017 when imports increased by 20% against the previous year. Imports peaked at 178M tons in 2013; however, from 2014 to 2023, imports failed to regain momentum.
In value terms, crude oil imports declined sharply to $80.9B (IndexBox estimates) in 2023. Overall, imports continue to indicate a drastic downturn. The most prominent rate of growth was recorded in 2022 with an increase of 60% against the previous year. Over the period under review, imports reached the maximum at $145.7B in 2013; however, from 2014 to 2023, imports stood at a somewhat lower figure.
| COUNTRY | Import Value of Crude Oil in Japan (billion USD) | ||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|
| 2013 | 2014 | 2015 | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | |
| Saudi Arabia | 46.3 | 43.5 | N/A | 18.0 | 25.6 | 31.2 | 26.1 | 17.2 | 25.2 | 39.8 | 33.2 |
| United Arab Emirates | 33.3 | 31.8 | 17.5 | 12.9 | 15.6 | 20.6 | 21.9 | 13.7 | 21.9 | 38.2 | 31.8 |
| Kuwait | 10.5 | 9.4 | 5.0 | 3.1 | 4.4 | 6.0 | 6.1 | 3.9 | 5.4 | 8.3 | 7.2 |
| Qatar | 18.3 | 14.5 | 5.5 | 4.7 | 4.7 | 6.3 | 6.3 | 3.7 | 4.7 | 7.1 | 3.9 |
| United States | N/A | N/A | N/A | 0.1 | 0.6 | 1.4 | 1.6 | 0.7 | 0.3 | 1.1 | 1.6 |
| Iran | 6.9 | 6.1 | 3.2 | 3.3 | 3.5 | 3.4 | 1.1 | N/A | N/A | N/A | N/A |
| Russia | 10.1 | 10.5 | 6.0 | 3.3 | 3.7 | 3.9 | 4.0 | 1.8 | 2.3 | 1.3 | N/A |
| Others | 20.3 | 14.9 | 7.7 | 5.4 | 5.6 | 7.6 | 6.0 | 2.4 | 3.2 | 5.0 | 3.1 |
| Total | 146 | 131 | 45.0 | 50.8 | 63.8 | 80.6 | 73.1 | 43.5 | 63.1 | 101 | 80.9 |
Imports by Country
Saudi Arabia (51M tons), the United Arab Emirates (49M tons) and Kuwait (11M tons) were the main suppliers of crude oil imports to Japan, with a combined 89% share of total imports. Qatar, the United States and Russia lagged somewhat behind, together accounting for a further 6.9%.
From 2013 to 2023, the biggest increases were recorded for the United States (with a CAGR of +59.1%), while purchases for the other leaders experienced mixed trend patterns.
In value terms, the largest crude oil suppliers to Japan were Saudi Arabia ($33.2B), the United Arab Emirates ($31.8B) and Kuwait ($7.2B), with a combined 89% share of total imports. Qatar, the United States and Russia lagged somewhat behind, together accounting for a further 6.9%.
the United States, with a CAGR of +54.6%, recorded the highest growth rate of the value of imports, among the main suppliers over the period under review, while purchases for the other leaders experienced a decline.
Import Prices by Country
In 2023, the crude oil price stood at $646 per ton (CIF, Japan), falling by -15.1% against the previous year. In general, the import price saw a perceptible reduction. The most prominent rate of growth was recorded in 2022 an increase of 47%. The import price peaked at $817 per ton in 2013; however, from 2014 to 2023, import prices stood at a somewhat lower figure.
Average prices varied somewhat amongst the major supplying countries. In 2023, amid the top importers, the countries with the highest prices were the United States ($684 per ton) and the United Arab Emirates ($655 per ton), while the price for Russia ($534 per ton) and Kuwait ($626 per ton) were amongst the lowest.
From 2013 to 2023, the most notable rate of growth in terms of prices was attained by Kuwait (-2.1%), while the prices for the other major suppliers experienced a decline.
This report provides an in-depth analysis of the crude oil market in Japan. Within it, you will discover the latest data on market trends and opportunities by country, consumption, production and price developments, as well as the global trade (imports and exports). The forecast exhibits the market prospects through 2030.
Product coverage:
Country coverage:
- Japan
Data coverage:
- Market volume and value
- Per Capita consumption
- Forecast of the market dynamics in the medium term
- Trade (exports and imports) in Japan
- Export and import prices
- Market trends, drivers and restraints
- Key market players and their profiles
Reasons to buy this report:
- Take advantage of the latest data
- Find deeper insights into current market developments
- Discover vital success factors affecting the market
This report is designed for manufacturers, distributors, importers, and wholesalers, as well as for investors, consultants and advisors.
In this report, you can find information that helps you to make informed decisions on the following issues:
- How to diversify your business and benefit from new market opportunities
- How to load your idle production capacity
- How to boost your sales on overseas markets
- How to increase your profit margins
- How to make your supply chain more sustainable
- How to reduce your production and supply chain costs
- How to outsource production to other countries
- How to prepare your business for global expansion
While doing this research, we combine the accumulated expertise of our analysts and the capabilities of artificial intelligence. The AI-based platform, developed by our data scientists, constitutes the key working tool for business analysts, empowering them to discover deep insights and ideas from the marketing data.
1. INTRODUCTION
Making Data-Driven Decisions to Grow Your Business
- REPORT DESCRIPTION
- RESEARCH METHODOLOGY AND THE AI PLATFORM
- DATA-DRIVEN DECISIONS FOR YOUR BUSINESS
- GLOSSARY AND SPECIFIC TERMS
2. EXECUTIVE SUMMARY
A Quick Overview of Market Performance
- KEY FINDINGS
- MARKET TRENDSThis Chapter is Available Only for the Professional EditionPRO
3. MARKET OVERVIEW
Understanding the Current State of The Market and its Prospects
- MARKET SIZE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET STRUCTURE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- TRADE BALANCE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- PER CAPITA CONSUMPTION: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- MARKET FORECAST TO 2035
4. MOST PROMISING PRODUCTS FOR DIVERSIFICATION
Finding New Products to Diversify Your Business
- TOP PRODUCTS TO DIVERSIFY YOUR BUSINESS
- BEST-SELLING PRODUCTS
- MOST CONSUMED PRODUCTS
- MOST TRADED PRODUCTS
- MOST PROFITABLE PRODUCTS FOR EXPORTS
5. MOST PROMISING SUPPLYING COUNTRIES
Choosing the Best Countries to Establish Your Sustainable Supply Chain
- TOP COUNTRIES TO SOURCE YOUR PRODUCT
- TOP PRODUCING COUNTRIES
- TOP EXPORTING COUNTRIES
- LOW-COST EXPORTING COUNTRIES
6. MOST PROMISING OVERSEAS MARKETS
Choosing the Best Countries to Boost Your Export
- TOP OVERSEAS MARKETS FOR EXPORTING YOUR PRODUCT
- TOP CONSUMING MARKETS
- UNSATURATED MARKETS
- TOP IMPORTING MARKETS
- MOST PROFITABLE MARKETS
7. PRODUCTION
The Latest Trends and Insights into The Industry
- PRODUCTION VOLUME AND VALUE: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
8. IMPORTS
The Largest Import Supplying Countries
- IMPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- IMPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- IMPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
9. EXPORTS
The Largest Destinations for Exports
- EXPORTS: HISTORICAL DATA (2012–2024) AND FORECAST (2025–2035)
- EXPORTS BY COUNTRY: HISTORICAL DATA (2012–2024)
- EXPORT PRICES BY COUNTRY: HISTORICAL DATA (2012–2024)
10. PROFILES OF MAJOR PRODUCERS
The Largest Producers on The Market and Their Profiles
LIST OF TABLES
- Key Findings In 2024
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
LIST OF FIGURES
- Market Volume, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Value: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Structure – Domestic Supply vs. Imports, in Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Trade Balance, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Per Capita Consumption: Historical Data (2012–2024) and Forecast (2025–2035)
- Market Volume Forecast to 2035
- Market Value Forecast to 2035
- Market Size and Growth, By Product
- Average Per Capita Consumption, By Product
- Exports and Growth, By Product
- Export Prices and Growth, By Product
- Production Volume and Growth
- Exports and Growth
- Export Prices and Growth
- Market Size and Growth
- Per Capita Consumption
- Imports and Growth
- Import Prices
- Production, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Production, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Imports, In Physical Terms, By Country, 2024
- Imports, In Physical Terms, By Country, 2012–2024
- Imports, In Value Terms, By Country, 2012–2024
- Import Prices, By Country, 2012–2024
- Exports, In Physical Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Value Terms: Historical Data (2012–2024) and Forecast (2025–2035)
- Exports, In Physical Terms, By Country, 2024
- Exports, In Physical Terms, By Country, 2012–2024
- Exports, In Value Terms, By Country, 2012–2024
- Export Prices, By Country, 2012–2024
