In 2023, the import of Mineral Fuels, Oils, and Distillation Products to Japan stood at 150.30 Billion US Dollars. The forecasted data from 2024 to 2028 show a declining trend:
The year-on-year percentage variation is as follows:
• 2024: -1.11%
• 2025: -1.15%
• 2026: -1.14%
• 2027: -1.14%
• 2028: -1.12%
The Compound Annual Growth Rate (CAGR) from 2024 to 2028 is -1.13%.
Future trends to watch for:
• The sustained decline in the import value of mineral fuels and oils may be driven by Japan's strategic shift towards renewable and sustainable energy sources.
• Global oil market fluctuations and geopolitical factors could impact future import values.
• Advances in energy efficiency and domestic energy production may further reduce Japan's reliance on imported fuels.
