During 2010, Japan imported US$105.8 billion worth of crude oil from global suppliers. That figure represents a 32.3% increase over imports valued at $80 billion for 2009.
Below are the top 15 suppliers of Japanese crude petroleum.
Countries Supplying Most Crude Oil Imports to Japan
The following 15 countries provided 85.4% of Japan’s total crude oil imports last year. Six of the top 10 suppliers are Middle East nations.
- Saudi Arabia … US$32.6 billion (30.8% of total, up 25.2% from 2009)
- United Arab Emirates … $22.3 billion (21.1% of total, up 27.1%)
- Iran … $10.4 billion (9.8% of total, up 17.1%)
- Kuwait … $7.9 billion (7.5% of total, up 17.8%)
- Russia … $5.9 billion (5.6% of total, up 126.1%)
- Iraq … $3.42 billion (3.2% of total, up 144.4%)
- Oman … $3.41 billion (3.2% of total, up 46.6%)
- Indonesia … $2.4 billion (2.3% of total, up 75.3%)
- Sudan … $1.2 billion (1.1% of total, up 13.4%)
- Algeria … $323.1 million (0.3% of total, up 540.2%)
- Ecuador … $110.1 million (0.1% of total, up 179.5%)
- China … $108.9 million (0.1% of total, down 1.6%)
- Angola … $80.6 million (0.76% of total, up 241.7%)
- Nigeria … $78.8 million (0.75% of total, down 36.3%)
- Brazil … $64.1 million (0.6% of total, up from nil in 2009).
Four leading Middle East sources (Saudi Arabia, UAE, Iran, and Kuwait) accounted for almost 70% of Japan’s total crude petroleum imports.
Japan depended on China and Brazil for much smaller amounts of crude oil, and imported only a minimal amount from North America.
Fastest-growing Suppliers of Japan’s Imported Crude Oil
The four largest Mid-east suppliers were also among the top 10 fastest-growing crude oil suppliers to Japan in 2010. Two African countries led all countries in increased petroleum sales to Japan.
- Algeria … US$323.1 million, up 540.2%
- Angola … $80.6 million, up 241.7%
- Ecuador … $110.1 million, up 179.5%
- Iraq … $3.42 billion, up 144.4%
- Russia … $5.9 billion, up 126.1%
- Indonesia … $2.4 billion, up 75.3%
- Oman … $3.41 billion, up 46.6%
- United Arab Emirates … $22.3 billion, up 27.1%
- Saudi Arabia … $32.6 billion, up 25.2%
- Kuwait … $7.9 billion, up 17.8%.
The fastest-growing crude oil suppliers may well experience the most noticeable slowdowns in Japanese demand during the short term. Japan needs to focus on extensive emergency repairs to damages that the deadly earthquake and tsunami caused.
But once infrastructure fixes are made and transportation systems are back up and running, crude oil supplies may resume at an even faster pace. This is particularly true if nuclear power becomes viewed as an unsafe energy source for Japan’s recovery.
Sources: This article provides independent insights and analysis based on source data available from the United Nations Comtrade database.
Daniel Workman - A senior business and finance writer who also does French translations, notably international trade and insurance materials.
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