During 2010, Japan imported $1.17 billion worth of radioactive chemical elements and isotopes. That figure represents an overall 12.6% uptick in Japanese uranium imports in 2009.
Given the severe damages that the March 11 tsunami and earthquake inflicted on Japan’s nuclear power plants, one might reasonably expect a downturn in Japanese demand for nuclear fuel – at least in the short term.
This analysis identifies which uranium suppliers will be most severely impacted by Japan’s nuclear power plant problems. The harmonized tariff system (HTS) code for uranium isotopes used in this study falls under HTS pre-fix 2844.
Top Suppliers of Japan’s Imported Uranium
The top 3 trade partners supplying nuclear fuel to Japan accounted for almost 95% of uranium shipped to the Land of the Rising Sun during 2010. America, the number one nuclear power resource, generated almost three-quarters of Japan’s imported uranium.
- United States … US$967.8 million, up 16.9% from 2009 (73.3% of total)
- France … $145.8 million, up 2.4% (11.1% of total)
- United Kingdom … $138.4 million, up 20.2% (10.5% of total)
- Canada … $29.7 million, up 39.3% (2.3% of total)
- South Africa … $13.3 million, up 76.6% (1% of total)
- South Korea … $4 million, up 70% (0.3% of total)
- Germany … $2.3 million, down 10.7% (0.17% of total)
- Australia … $1.1 million, up 378.3% (0.08% of total)
- Czech Republic … $303,449 up 388 % (0.02% of total)
- Russian Federation … $194,928 down 11% (0.015% of total)
- India … $185,585 up 233.4% (0.014% of total)
- China … $82,570 down 40.9%(0.006% of total).
Among the top 12 exporters of radioactive supplies, 9 increased their percentage sales to Japan last year.
Fastest-growing Sources of Imported Japanese Nuclear Fuel
Three of the smaller suppliers posted triple-digit gains in imported uranium sales to Japan, although Australia has some of the world’s largest uranium mines.
- Czech Republic … US$303,449 up 388%
- Australia … $1.1 million, up 378.3%
- India … $185,585 up 233.4%
- South Africa … $13.3 million, up 76.6%
- South Korea … $4 million, up 70%
- Canada … $29.7 million, up 39.3%
- United Kingdom … $138.4 million, up 20.2%
- United States … $967.8 million, up 16.9%
- France … $145.8 million, up 2.4%
Canada also has formidable supplies of uranium, and grew its exports to Japan at a rate over 3 times Japan’s overall 12.6% increase in nuclear power imports.
Countries Suffering Most from Japanese Nuclear Problems
2010 was a year of growth for most of Japan’s uranium trade partners, but that all changed after the deadly March 11, 2011 tsunami and earthquake.
The nuclear fallout is still happening, as Japanese engineers struggle to cool the Fukushima Daiichi nuclear plant on Japan’s devastated northeast coast.
Japan’s nuclear suppliers face cutbacks in the near term. The United States would appear to be the biggest potential loser of Japanese uranium orders, followed by France and the United Kingdom.
The nuclear fallout will also affect Canadian and South African suppliers, but on a proportionately smaller scale.
Sales should recover once Japan’s nuclear power plants stabilize, and can run safely again.
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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