Japan2021 Economic Complexity Trade : 2.06, Rank 1 of 131
2021 Economic Complexity Technology : 1, Rank 21 of 96
2021 Economic Complexity Research : 0.86, Rank 29 of 140
2021 Product Exports | Imports: $731B | $700B, 4 of 226 | 4 of 226
2021 Per Capita Product Exports | Imports: $5.82k | $5.57k, 71 of 219 | 84 of 219
Overview In 2021, Japan was the number 3 economy in the world in terms of GDP (current US$), the number 4 in total exports, the number 4 in total imports, the number 26 economy in terms of GDP per capita (current US$) and the number 1 most complex economy according to the Economic Complexity Index (ECI) .
Exports The top exports of Japan are Cars ($88.6B), Integrated Circuits ($36B), Motor vehicles; parts and accessories (8701 to 8705) ($33.4B), Machinery Having Individual Functions ($22B), and Photo Lab Equipment ($18.5B), exporting mostly to China ($153B), United States ($128B), Chinese Taipei ($52.5B), South Korea ($51.1B), and Thailand ($31.2B).
In 2021, Japan was the world's biggest exporter of Machinery Having Individual Functions ($22B), Photo Lab Equipment ($18.5B), Large Construction Vehicles ($11.8B), Hot-Rolled Iron ($10.9B), and Thermostats ($5.88B)
Imports The top imports of Japan are Crude Petroleum ($54.9B), Petroleum Gas ($40.2B), Integrated Circuits ($22.7B), Coal Briquettes ($22.2B), and Refined Petroleum ($18.1B), importing mostly from China ($168B), United States ($71.8B), Australia ($47B), Chinese Taipei ($30.2B), and South Korea ($30.1B).
In 2021, Japan was the world's biggest importer of Other Prepared Meat ($2.85B), Processed Tobacco ($2.46B), Fuel Wood ($2.09B), Ethers ($1.61B), and Sulfates ($712M)
Location Japan borders China, North Korea, South Korea, Philippines, and Russia by sea.
May, 2023
Overview In May 2023 Japan exported ¥7.29T and imported ¥8.67T, resulting in a negative trade balance of ¥1.38T. Between May 2022 and May 2023 the exports of Japan have increased by ¥40.6B (0.56%) from ¥7.25T to ¥7.29T, while imports decreased by ¥-944B (-9.81%) from ¥9.62T to ¥8.67T.
Trade In May 2023, the top exports of Japan were Cars (¥1.03T), Commodities not elsewhere specified (¥597B), Integrated Circuits (¥303B), Motor vehicles; parts and accessories (8701... (¥271B), and Machines and apparatus of a kind... (¥235B). In May 2023 the top imports of Japan were Crude Petroleum (¥836B), Petroleum Gas (¥473B), Coal Briquettes (¥421B), Integrated Circuits (¥372B), and Telephones (¥187B).
Origins In May 2023 the exports of Japan were mainly from Aichi (¥1.44T), Chiba (¥1.19T), Osaka (¥893B), Kanagawa (¥731B), and Hyōgo (¥611B), while imports destinations were mainly Chiba (¥1.82T), Tokyo (¥1.35T), Osaka (¥958B), Aichi (¥771B), and Kanagawa (¥758B).
Destinations In May 2023, Japan exported mostly to United States (¥1.37T), China (¥1.34T), South Korea (¥490B), Taiwan (¥437B), and Hong Kong (¥333B), and imported mostly from China (¥1.88T), United States (¥947B), Australia (¥706B), Taiwan (¥456B), and United Arab Emirates (¥395B).
Growth In May 2023, the increase in Japan's year-by-year exports was explained primarily by an increase in exports to United States (¥118B or 9.42%), Netherlands (¥46.2B or 42.1%), and India (¥33.4B or 23.5%), and product exports increase in Cars (¥453B or 78.2%), Commodities not elsewhere specified (¥43.4B or 7.85%), and Gold (¥23.8B or 21.7%). In May 2023, the decrease in Japan's year-by-year imports was explained primarily by an decrease in imports from Australia (¥-262B or -27%), United Arab Emirates (¥-136B or -25.6%), and China (¥-118B or -5.91%), and product imports decrease in Petroleum Gas (¥-236B or -33.3%), Crude Petroleum (¥-232B or -21.7%), and Coal Briquettes (¥-199B or -32.1%).
EXPORT GROWTH (May 2022 - May 2023): ¥40.6B, (0.56%)
IMPORT GROWTH (May 2022 - May 2023): ¥-944B, (-9.81%)
MAIN EXPORTER (May 2023): Aichi, ¥1.44T
MAIN DESTINATION (May 2023): United States, ¥1.37T
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.
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In 2021, Japan exported a total of $731B, making it the number 4 exporter in the world. During the last five reported years the exports of Japan have changed by $92.9B from $638B in 2016 to $731B in 2021.
The most recent exports are led by Cars ($88.6B), Integrated Circuits ($36B), Motor vehicles; parts and accessories (8701 to 8705) ($33.4B), Machinery Having Individual Functions ($22B), and Photo Lab Equipment ($18.5B). The most common destination for the exports of Japan are China ($153B), United States ($128B), Chinese Taipei ($52.5B), South Korea ($51.1B), and Thailand ($31.2B).
Fastest Growing Export Markets (2020 - 2021)
Fastest Growing Import Markets (2020 - 2021)
Japan Exports Services (2019): $205B
Japan Imports Services (2019): $196B
In 2019, Japan exported $205B worth of services. The top services exported by Japan in 2019 were Royalties and license fees ($46.9B), Other business services ($46.6B), Personal travel ($41.9B), Transportation ($26.2B), and Financial services ($14.3B).
The top services imported by Japan in 2019 were Other business services ($66.7B), Transportation ($34.3B), Royalties and license fees ($26.3B), Computer and information services ($20.7B), and Personal travel ($18B).
This section shows exports, imports and economic complexity data at the subnational level for Japan. Click any of the Prefecture in the geomap to visit the specific subnational profile.
The top territories of Japan according to its Economic Complexity Index are Aichi (0.94), Tochigi (0.93), and Shiga (0.88).
The principal exporters of Japan were Aichi (¥18T), Chiba (¥17.4T), and Osaka (¥12.9T).
The same year, the principal importers of Japan were Chiba (¥28T), Tokyo (¥15.9T), and Osaka (¥13.7T).
Japan has a high level of specialization in Photographic Chemicals (14.9), Blown Glass (14.1), Watch Movements (11.7), Pianos (10.5), and Metalworking Transfer Machines (8.83). Specialization is measured using RCA, an index that takes the ratio between Japan observed and expected exports in each product.
The highest complexity exports of Japan according to the product complexity index (PCI) are Photographic plates and film; exposed and developed, other than cinematographic film (2.38), Machining centres, unit construction machines (single station) and multi-station transfer machines for... (2.18), Photographic (including cinematographic) laboratory apparatus and equipment, n.e.c. in chapter 90; negatoscopes;... (2.07), Chemical preparations for photographic uses (other than varnishes, glues, adhesives and similar... (2.02), and Textile machinery; for extruding, drawing, texturing or cutting man-made textile materials (1.97). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.
The top export opportunities for Japan according to the relatedness index, were Non-Petroleum Gas (0.46), Platinum Clad Metals (0.42), Cermets (0.41), Office Machine Parts (0.4), and Typewriters (0.4). 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 a country currently specializes in.
The Complexity-Relatedness diagram compares the risk vs strategic value of a country's potential export oppotunities. Relatedness is 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 greenhouse emissions.
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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