Japan Consumption Jumped 20% in 2022


Japan Consumption Jumped 20% in 2022

Japan’s domestic finished lubricant consumption rose 28% and its lubricant production jumped 33% in December, according to data released on Tuesday by the Japan Ministry of Economy, Trade and Industry. For the full year, domestic lube consumption was up nearly 20%, and production was up by 23%.

Domestic lubricant consumption in Japan increased in December to 144,818 kL, up from 113,474 kL. Monthly domestic lube consumption peaked in April at 193,528 kL, and the low mark of 104,243 kL was recorded in January.

For the full year, domestic consumption increased 19% to 1.8 million kL.

Lubricant production jumped 33% in December to 216,469 kiloliters, compared to 162,52 kL. That was the seventh time last year that the production total for a month topped 200,000 kL, and the peak was 249,339 kL in April. The lowest production volumes were in the 160,000s kL range, recorded in January, February and October

For full-year 2022, Japan’s lubricant production climbed to 2.5 million kL, compared to 2 million kL for 2021.

The country’s lubricant exports jumped 25% in December to 67,903 kL. The highest export volume, 84,021 kL, occurred in March. Such volumes topped 60,000 kL in every month last year except in January, August, October and November. The low mark of 44,347 kL was recorded in October.

In 2022, the country’s lubricant exports increased 4% to 794,064 Kl.

The country’s lubricant imports fell 24% to 22,748 kL. That was the fourth month in which import volumes topped the 22,000 kL mark, with the highest volume of 29,472 kL occuring in February. Monthly import volumes twice dropped below the 7,000 kL mark – 6,987 kL in September and 4,355 kL in November.

 For the full year, such imports decreased 15% to 203,177 kL.

In April 2022, the ministry began including grease production data. For December, Japan produced 4,528 metric tons of grease, and domestic grease consumption totaled 3,752 tons. The country exported 89 tons and imported 71 tons of grease.

“Japan’s economy, despite being affected by factors such as high commodity prices, has picked up as the resumption of economic activity has progressed while public health has been protected from COVID-19,” the Bank of Japan said in its Outlook for Economic Activity and Prices released Jan. 18. “The pace of recovery in overseas economies has slowed. Exports and industrial production have increased as a trend, with the effects of supply-side constraints waning.”

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