Flag Japan

Econ Complexity (2018): 2.17, Rank 1 of 137

Product Exports (2018): $713B, Rank 4 of 222

Exports Per Capita (2018): $5.63k, Rank 69 of 219

Product Imports (2018): $653B, Rank 5 of 221

Imports Per Capita (2018): $5.16k, Rank 72 of 219

Service Exports (2018): $192B, Rank 3 of 88

Service Imports (2018): $190B, Rank 3 of 88

GDP (2018): $4.97T, CURRENT US$
Rank 3 of 196

GDP growth (2008 - 2018): -1.32%, CURRENT US$
Rank 169 of 196

GDP PC (2018): $39,290, CURRENT US$
Rank 27 of 196

GDP PC GROWTH (2008 - 2018): -0.13%, CURRENT US$
Rank 146 of 196

Overview: In 2018 Japan was the number 3 economy in the world in terms of GDP (current US$), the number 4 in total exports, the number 5 in total imports, and the number 1 most complex economy according to the Economic Complexity Index (ECI). In 2018, Japan exported $713B and imported $653B, resulting in a positive trade balance of $59.2B. In 2018, Japan's exports per capita were $5.63k and its imports per capita were $5.16k.

Trade: The top exports of Japan are Cars ($103B), Vehicle Parts ($36.3B), Integrated Circuits ($30.9B), Machinery Having Individual Functions ($23.1B), and Photo Lab Equipment ($11.9B). The top imports of Japan are Crude Petroleum ($72.3B), Coal Briquettes ($21.9B), Petroleum Gas ($19.3B), Broadcasting Equipment ($18B), and Integrated Circuits ($17.9B).

Destinations: Japan exports mostly to China ($139B), United States ($135B), South Korea ($51.5B), Chinese Taipei ($41.1B), and Thailand ($31.6B), and imports mostly from China ($155B), United States ($73.5B), South Korea ($30.8B), Saudi Arabia ($29.4B), and Australia ($27.6B).

Location: Japan borders China, North Korea, South Korea, Philippines, and Russia by sea.

Latest Trends (May, 2020)

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Overview: In May 2020 Japan exported ¥4.19T and imported ¥5.02T, resulting in a negative trade balance of ¥838B. Between May 2019 and May 2020 the exports of Japan have decreased by ¥-1.65T (-28.3%) from ¥5.84T to ¥4.19T, while imports decreased by ¥-1.78T (-26.2%) from ¥6.8T to ¥5.02T.

Trade: In May 2020 the top exports of Japan were Commodities not elsewhere specified (¥292B), Cars (¥274B), Integrated Circuits (¥232B), Machines and apparatus of a kind used solely or principally for the manufacture of semiconductor boules or wafers, semiconductor devices, electronic integrated circuits or flat panel displays (¥182B), and Vehicle Parts (¥114B). In May 2020 the top imports of Japan were Petroleum Gas (¥271B), Computers (¥191B), Telephones (¥176B), Integrated Circuits (¥166B), and Packaged Medicaments (¥159B).

Origins: In May 2020 the exports of Japan were mainly from Chiba (¥753B), Aichi (¥676B), Osaka (¥641B), Kanagawa (¥404B), and Tokyo (¥374B), while imports destinations were mainly Chiba (¥1.13T), Tokyo (¥948B), Osaka (¥707B), Aichi (¥446B), and Kanagawa (¥443B).

Destinations: In May 2020 Japan exported mostly to China (¥1.13T), United States (¥588B), Taiwan (¥359B), South Korea (¥329B), and Hong Kong (¥254B), and imported mostly from China (¥1.51T), United States (¥578B), Australia (¥285B), Taiwan (¥237B), and South Korea (¥201B).

Growth: In May 2020, the decrease in Japan's year-by-year exports was explained primarily by a decrease in exports to United States (¥-602B or -50.6%), Thailand (¥-84.7B or -32.9%), and Australia (¥-77.2B or -59.1%), and product exports decrease in Cars (¥-519B or -65.4%), Vehicle Parts (¥-155B or -57.6%), and Refined Petroleum (¥-88.2B or -76.9%). In May 2020, the decrease in Japan's year-by-year imports was explained primarily by a decrease in imports from United Arab Emirates (¥-224B or -80.6%), United States (¥-219B or -27.5%), and Saudi Arabia (¥-192B or -72.5%), and product imports decrease in Crude Petroleum (¥-596B or -78.9%), Planes, Helicopters, and/or Spacecraft (¥-84.1B or -81.9%), and Petroleum Gas (¥-81.5B or -23.1%).

Flow
Value
Depth

EXPORT GROWTH (May 2019 - May 2020): ¥-1.65T, (-28.3%)

IMPORT GROWTH (May 2019 - May 2020): ¥-1.78T, (-26.2%)

MAIN EXPORTER (May 2020): Chiba, ¥753B

MAIN DESTINATION (May 2020): China, ¥1.13T

This section shows exports and imports data at subnational level for Japan. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Japan over time.

Comparison in Time

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Flow
Value

This section shows the differences between Japan's total subnational aggregate trade throughout time. To explore different subnational trade comparisons in time, visit Japan's subnational profiles.

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Product Exports

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Depth
Value

Top Export (2018): Cars, $103B

Top Destination (2018): China, $139B

In 2018 Japan exported a total of $713B, making it the number 4 exporter in the world. During the last five reported years the exports of Japan have changed by -$53.5B from $766B in 2013 to $713B in 2018.

The most recent exports are led by Cars ($103B), Vehicle Parts ($36.3B), Integrated Circuits ($30.9B), Machinery Having Individual Functions ($23.1B), and Photo Lab Equipment ($11.9B). The most common destination for the exports of Japan are China ($139B), United States ($135B), South Korea ($51.5B), Chinese Taipei ($41.1B), and Thailand ($31.6B).

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Product Imports

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Depth
Value

Top Import (2018): Crude Petroleum, $72.3B

Top Origin (2018): China, $155B

In 2018 Japan imported $653B, making it the number 5 trade destination in the world. During the last five reported years the imports of Japan changed by -$127B from $781B in 2013 to $653B in 2018.

The most recent imports of Japan are led by Crude Petroleum ($72.3B), Coal Briquettes ($21.9B), Petroleum Gas ($19.3B), Broadcasting Equipment ($18B), and Integrated Circuits ($17.9B). The most common import partners for Japan are China ($155B), United States ($73.5B), South Korea ($30.8B), Saudi Arabia ($29.4B), and Australia ($27.6B).

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Flow

Fastest Growing Export Markets (2017 - 2018)

Fastest Growing Import Markets (2017 - 2018)

Japan Exports Services (2018): $192B

Japan Imports Services (2018): $190B

In 2018, Japan exported $192B worth of services. The top services exported by Japan in 2018 were Royalties and license fees ($45.5B), Other business services ($42.1B), Personal travel ($38.6B), Transportation ($28.9B), and Financial services ($11.5B).

The top services imported by Japan in 2018 were Other business services ($68B), Transportation ($38.4B), Royalties and license fees ($21.7B), Personal travel ($16.8B), and Computer and information services ($15.8B).

Trade Forecasts

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This section shows forecasts for total product exports and imports for Japan. The forecast is based in a long short-term memory model or LSTM constructed using yearly trade data.

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Tariffs by Product

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The top product import tariffs by their MFN Ad Valorem value for Japan are Bovine edible offal, fresh or chilled (50%) and Bovine edible offal, frozen except livers and tongues (50%).

Click any of the products in the bar chart to see the specific Ad Valorem Duty Rates by partner country.

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*The tariffs applied to imports for Japan are:
84: Association of Southeast Asian Nations (ASEAN ) Free Trade Area
130: Japan Generalized System of Preference
131: Japan GSP for Least Developed Countries
136: Most Favoured Nation duty rate treatement
139: Non-MFN duty rate for countries excluded from Most-Favoured- Nation (MFN) treatement
165: Preferential tariff for Australia
174: Preferential tariff for Brunei
182: Preferential tariff for Chile
239: Preferential tariff for India
241: Preferential tariff for Indonesia
265: Preferential tariff for Malaysia
270: Preferential tariff for Mexico
271: Preferential tariff for Mongolia
289: Preferential tariff for Peru
290: Preferential tariff for Philippines
299: Preferential tariff for Singapore
306: Preferential tariff for Switzerland
309: Preferential tariff for Thailand
333: Preferential tariff for Vietnam

Economic Complexity

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Economic Complexity Ranking

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During the last 20 years Japan's⁩ ⁨economy has become relatively more complex, moving from the ⁩⁨1st to the 1st⁩ position in the ECI rank.

These economic complexity rankings use 6 digit exports classified according to the HS96 classification. We consider only countries with population of at least 1 million and exports of at least $1 billion, and products with world trade over $500 million. To explore different rankings and vary these parameters visit the custom rankings section.

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Comparison Map

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Value

This section shows exports, imports and economic complexity data at subnational level for Japan. Click any of the Prefecture in the geomap to visit the specific subnational profile.

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Most Specialized Products by RCA Index

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Japan has a high level of specialization in Blown Glass (15.4), Photographic Chemicals (12), Watch Movements (11.6), Pianos (9.24), and Metalworking Transfer Machines (7.88). Specialization is measured using RCA, an index that takes the ratio between Japan observed and expected exports in each product.

Most Complex Products by PCI

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The highest complexity exports of Japan according to the product complexity index (PCI) are Machining centre, single/multistation transfer machine (2.58), Photo plate, film, exposed or developed, except cine (2.4), Chemical element/compound wafers doped for electronics (2.2), Chemical preparations for photographic use (2.16), and Machine-tools for shaping metals, nes (2.02). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Export Opportunities by Relatedness

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The top export opportunities for Japan according to the relatedness index, are Cermets (0.43), Zirconium (0.39), Vegetable Parchment (0.39), Office Machine Parts (0.37), and Plastic Coated Textile Fabric (0.37). Relatedness measures the distance between a country's current exports and each product. The barchart show only products that Japan is not specialized in.

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since countries are more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

Diversification Frontier

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Depth
Filter

The Complexity-Relatedness diagram compares the risk and the strategic value of a country's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions.