Japan2020 Economic Complexity : 2.19, Rank 1 of 127
2020 Product Exports | Imports: $623B | $581B, 4 of 226 | 5 of 226
2020 Per Capita Product Exports | Imports: $4.94k | $4.6k, 62 of 219 | 82 of 219
2019 Service Exports | Imports : $205B | $196B, 10 of 108 | 9 of 108
Overview In 2020, Japan was the number 3 economy in the world in terms of GDP (current US$), the number 4 in total exports, the number 5 in total imports, the number 28 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 ($83.1B), Integrated Circuits ($31.3B), Motor vehicles; parts and accessories (8701 to 8705) ($28B), Machinery Having Individual Functions ($19.9B), and Photo Lab Equipment ($12.1B), exporting mostly to China ($133B), United States ($112B), South Korea ($42.9B), Chinese Taipei ($42.7B), and Hong Kong ($27.2B).
In 2020, Japan was the world's biggest exporter of Machinery Having Individual Functions ($19.9B), Large Construction Vehicles ($8.24B), Hot-Rolled Iron ($6.72B), Electrical Capacitors ($6.7B), and Disc Chemicals for Electronics ($4.23B)
Imports The top imports of Japan are Crude Petroleum ($38.4B), Petroleum Gas ($31.4B), Integrated Circuits ($17.7B), Broadcasting Equipment ($17.5B), and Computers ($14.5B), importing mostly from China ($151B), United States ($63.1B), Australia ($31.8B), South Korea ($25.1B), and Chinese Taipei ($24.3B).
In 2020, Japan was the world's biggest importer of Other Prepared Meat ($3.09B), Processed Tobacco ($2.16B), Fuel Wood ($1.72B), Nickel Mattes ($1.46B), and Forage Crops ($763M)
Location Japan borders China, North Korea, South Korea, Philippines, and Russia by sea.
October, 2022
Overview In October 2022 Japan exported ¥9T and imported ¥11.2T, resulting in a negative trade balance of ¥2.17T. Between October 2021 and October 2022 the exports of Japan have increased by ¥1.82T (25.3%) from ¥7.18T to ¥9T, while imports increased by ¥3.91T (53.9%) from ¥7.26T to ¥11.2T.
Trade In October 2022, the top exports of Japan were Cars (¥1.06T), Commodities not elsewhere specified (¥697B), Integrated Circuits (¥434B), Motor vehicles; parts and accessories (8701... (¥365B), and Machines and apparatus of a kind... (¥350B). In October 2022 the top imports of Japan were Crude Petroleum (¥1.22T), Petroleum Gas (¥841B), Coal Briquettes (¥784B), Telephones (¥421B), and Integrated Circuits (¥410B).
Origins In October 2022 the exports of Japan were mainly from Aichi (¥1.63T), Chiba (¥1.52T), Osaka (¥1.19T), Kanagawa (¥868B), and Tokyo (¥773B), while imports destinations were mainly Chiba (¥2.77T), Tokyo (¥1.48T), Osaka (¥1.25T), Kanagawa (¥916B), and Aichi (¥902B).
Destinations In October 2022, Japan exported mostly to United States (¥1.78T), China (¥1.72T), South Korea (¥625B), Taiwan (¥602B), and Thailand (¥394B), and imported mostly from China (¥2.39T), Australia (¥1.21T), United States (¥1.06T), United Arab Emirates (¥603B), and Taiwan (¥505B).
Growth In October 2022, the increase in Japan's year-by-year exports was explained primarily by an increase in exports to China (¥336B or 37.5%), Taiwan (¥73.9B or 21.7%), and South Korea (¥57.7B or 15.5%), and product exports increase in Machines and apparatus of a kind... (¥78.8B or 50.4%), Commodities not elsewhere specified (¥56.9B or 17.8%), and Beauty Products (¥20.4B or 71.2%). In October 2022, the increase in Japan's year-by-year imports was explained primarily by an increase in imports from Ireland (¥20B or 33.1%), South Africa (¥10.6B or 21%), and Canada (¥9.51B or 10.6%), and product imports increase in Telephones (¥120B or 53.3%), Computers (¥52.8B or 30.3%), and Cars (¥39.2B or 37.6%).
EXPORT GROWTH (October 2021 - October 2022): ¥1.82T, (25.3%)
IMPORT GROWTH (October 2021 - October 2022): ¥3.91T, (53.9%)
MAIN EXPORTER (October 2022): Aichi, ¥1.63T
MAIN DESTINATION (October 2022): United States, ¥1.78T
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 2020, Japan exported a total of $623B, making it the number 4 exporter in the world. During the last five reported years the exports of Japan have changed by $5.43B from $618B in 2015 to $623B in 2020.
The most recent exports are led by Cars ($83.1B), Integrated Circuits ($31.3B), Motor vehicles; parts and accessories (8701 to 8705) ($28B), Machinery Having Individual Functions ($19.9B), and Photo Lab Equipment ($12.1B). The most common destination for the exports of Japan are China ($133B), United States ($112B), South Korea ($42.9B), Chinese Taipei ($42.7B), and Hong Kong ($27.2B).
Fastest Growing Export Markets (2019 - 2020)
Fastest Growing Import Markets (2019 - 2020)
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 (0.99), Shiga (0.94), and Tochigi (0.85).
In 2020, the principal exporters of Japan were Aichi (¥13.4T), Chiba (¥10.9T), and Osaka (¥9.46T).
The same year, the principal importers of Japan were Chiba (¥15.9T), Tokyo (¥11.5T), and Osaka (¥9.25T).
Japan has a high level of specialization in Blown Glass (15.1), Photographic Chemicals (13.4), Pianos (10.5), Inorganic Compounds (9.85), and Watch Movements (9.7). 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 Metalworking Transfer Machines (2.55), Developed Exposed Photographic Material (2.45), Photo Lab Equipment (2.15), Metalworking Machines (2.09), and Cermets (2.08). 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, are Cast or Rolled Glass (0.44), Non-Petroleum Gas (0.41), Office Machine Parts (0.39), Nitrogen Heterocyclic Compounds (0.38), and Nuclear Reactors (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 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 4th 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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