TOKYO — Japan's food, agricultural, forestry, and fisheries exports experienced their first decline in four years during the first half of 2024, according to data from the Ministry of Agriculture, Forestry and Fisheries.

Exports dropped by 1.8% to 701.3 billion yen ($4.76 billion), a notable decrease attributed primarily to a sharp decline in shipments to China. The slowdown follows China's suspension of Japanese seafood imports in August 2023, triggered by the release of treated wastewater from the Fukushima Daiichi nuclear power plant, as reported by Nikkei Asia and Kyodo News.

The data reveals a dramatic 43.8% drop in exports to China, totaling 78.4 billion yen. Notably, seafood exports to China plummeted by over 90%, and scallop exports—which previously contributed significantly to Japan's seafood trade—fell to virtually zero.

In contrast, exports to the United States saw a substantial increase of 19.9%, with Japan’s scallops and other products gaining traction in the U.S. market. This shift highlights the impact of China's ban and underscores Japan’s efforts to diversify its export markets.

Despite the overall decline, Japan's exports to other regions grew by 14.3%, buoyed by strong demand in the U.S. and Europe. The weakening yen and rising global demand for Japanese products, including condiments, green tea, and rice, contributed to this growth.

The Japanese government aims to significantly boost exports to 2 trillion yen by 2025 and 5 trillion yen by 2030. However, the recent setbacks in China and Hong Kong pose challenges to these ambitious targets, leaving the outlook uncertain as economic conditions and exchange rates fluctuate, as highlighted in reports by Kyodo News and Nikkei Asia.