Japan’s finished lubricants consumption surged by 34%, lubricants production jumped 32%, and lubricants exports increased 20% in September, according to data released Monday by the Japan Ministry of Economy, Trade and Industry. Meanwhile, the imported lubricants volume tumbled to its lowest mark since mid-2020.
The country consumed 187,308 kiloliters (168,000 metric tons) of lubes in September, compared to 140,064 kL in the same month last year. It was the highest monthly total since 193,528 kL in April.
Lubricants production rose to 227,918 kL in September and exports to 69,314 kL.
September’s imports were down 76% year to year at 6,987 kL, the lowest level since 7,424 kL in June 2020.
Japan’s economy, despite being affected by factors such as high commodity prices, improved as the resumption of economic activity since the earlier stages of the COVID-19 pandemic progressed, the Bank of Japan said in its Outlook for Economic Activity and Prices, released in October. Exports and industrial production are trending upward, the bank said, with the effects of supply-side constraints waning.