Overview: In February 2021 Wakayama exported ¥18.9B and imported ¥20.2B, resulting in a negative trade balance of ¥1.32B. Between February 2020 and February 2021 the exports of Wakayama have decreased by $-17.6B (-48.2%) from ¥36.5B to ¥18.9B, while imports decreased by ¥-1.3B (-6.06%) from ¥21.5B to ¥20.2B.
Trade: In February 2021, the top exports of Wakayama were Refined Petroleum (¥6.94B), Iron Pipes (¥5.37B), Semi-Finished Iron (¥2.07B), Knitting Machines (¥1.49B), and Cyclic Hydrocarbons (¥1.12B). In February 2021 the top imports of Wakayama were Crude Petroleum (¥13.1B), Ethers (¥1.81B), Refined Petroleum (¥1.74B), Iron Ore (¥908M), and Fuel Wood (¥683M).
Destinations: In February 2021, Wakayama exported mostly to China (¥2.83B), Taiwan (¥2.2B), Singapore (¥1.88B), Australia (¥1.66B), and Guam (¥1.39B), and imported mostly from United Arab Emirates (¥9.48B), Saudi Arabia (¥3.66B), United States (¥1.81B), Spain (¥1.31B), and Brazil (¥908M).
Growth: In February 2021, the decrease in Wakayama's year-by-year exports was explained primarily by an decrease in exports to South Korea (¥-4.99B or -85.9%), Singapore (¥-3.65B or -66%), and Indonesia (¥-2.84B or -97.8%), and product exports decrease in Refined Petroleum (¥-7.01B or -50.3%), Iron Pipes (¥-5.78B or -51.9%), and Semi-Finished Iron (¥-4.13B or -66.6%). In February 2021, the decrease in Wakayama's year-by-year imports was explained primarily by an decrease in imports from United Arab Emirates (¥-1.19B or -11.1%), Vietnam (¥-434M or -99.9%), and Russia (¥-308M or -100%), and product imports decrease in Crude Petroleum (¥-3.89B or -22.8%), Coal Briquettes (¥-308M or -100%), and Saturated Acyclic Monocarboxylic Acids (¥-88.8M or -52.9%).