Ibaraki | The Observatory of Economic Complexity

Ibaraki

Prefecture in Kantō Region of Japan

2023
Economic
Complexity 0.46Rank 21 of 41

Oct 2024
Trade
Exports | Imports ¥ 217B | ¥ 194B9 of 41 | 11 of 41

Oct 2024
Country
Destination | Origin United States | United Arab Emirates ¥ 117B | ¥ 45.2B

Image 1

Image by taka_jp
Link: https://flic.kr/p/dTUhmv

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Ibaraki. In October 2024 Ibaraki was the number 11 in total exports and the number 10 in total imports in Japan.

Exports In 2023, Japan's Ibaraki exported ¥ 1.95T, making it the 11th largest exporter out of the 41 exporters in Japan. In 2023 the top exports of Ibaraki were Medium Sized Cars (¥ 843B), Electric motor Vehicles (¥ 218B), Shovels and excavators with revolving superstructure (¥ 188B), Dump trucks (off-highway) (¥ 152B), and Iron/Steel Sheets: Thin, Hot-Rolled, Wide Coils (¥ 132B).

Imports In 2023, Japan's Ibaraki imported ¥ 2.53T, making it the 10th largest importer out of the 41 importers in Japan. In 2023 top imports of Ibaraki were Crude Petroleum Oils (¥ 559B), Bituminous coal, not agglomerated (¥ 493B), Petroleum spirit for motor vehicles (¥ 174B), Unagglomerated Iron Ore Concentrate (Excl. Iron... (¥ 170B), and Liquefied Natural Gas (¥ 143B).

Economic Complexity In 2023, the highest complexity exports of Ibaraki according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.04), Lubricating Products (1.68), Epoxides (1.67), Phenols (1.47), Flat Flat-Rolled Steel (1.44), Other Nitrogen Compounds (1.38), Petroleum Resins (1.24), Aldehydes, cyclic polymers, and paraformaldehyde (1.14), Halogenated Hydrocarbons (1.08), and Steel Wire (1.07). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

October, 2024

About

Overview In October 2024 Ibaraki exported ¥217B and imported ¥194B, resulting in a positive trade balance of ¥23.3B. Between October 2023 and October 2024 the exports of Ibaraki have decreased by $-1.23B (-0.56%) from ¥219B to ¥217B, while imports increased by ¥1.77B (0.92%) from ¥192B to ¥194B.

Trade In October 2024, the top exports of Ibaraki were Cars (¥133B), Hot-Rolled Iron (¥13.5B), Delivery Trucks (¥12.7B), Large Construction Vehicles (¥11.9B), and Cyclic Hydrocarbons (¥6.17B). In October 2024 the top imports of Ibaraki were Crude Petroleum (¥52.5B), Coal Briquettes (¥36.5B), Cars (¥22.4B), Iron Ore (¥19B), and Refined Petroleum (¥15.2B).

Destinations In October 2024, Ibaraki exported mostly to United States (¥117B), Canada (¥12.5B), South Korea (¥9.55B), China (¥9.33B), and United Kingdom (¥7.02B), and imported mostly from United Arab Emirates (¥45.2B), Australia (¥41.7B), United States (¥23.4B), Saudi Arabia (¥17.5B), and Germany (¥13.1B).

Growth In October 2024, the decrease in Ibaraki's year-by-year exports was explained primarily by an decrease in exports to Australia (¥-10.7B or -83.3%), China (¥-5.26B or -36%), and Singapore (¥-3.99B or -81.2%), and product exports decrease in Refined Petroleum (¥-9.45B or -79.1%), Hot-Rolled Iron (¥-4.2B or -23.7%), and Large Construction Vehicles (¥-2.69B or -18.4%). In October 2024, the increase in Ibaraki's year-by-year imports was explained primarily by an increase in imports from United Arab Emirates (¥27.7B or 158%), United States (¥3.14B or 15.5%), and Kuwait (¥3.01B or 162%), and product imports increase in Iron Ore (¥8.14B or 74.9%), Crude Petroleum (¥6.8B or 14.9%), and Coal Briquettes (¥2.9B or 8.64%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (October 2023 - October 2024)¥-1.23B(-0.56%)

IMPORT GROWTH (October 2023 - October 2024)¥1.77B(0.92%)

This section shows exports and imports data at subnational level for Ibaraki. 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 Ibaraki over time.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)United States¥ 1.01T

Top Product (2023)Medium Sized Cars¥ 843B

In 2023 the top export destinations of Ibaraki were United States (¥ 1.01T), Australia (¥ 129B), China (¥ 127B), South Korea (¥ 105B), and Indonesia (¥ 100B).

In 2023 the top exports of Ibaraki were Medium Sized Cars (¥ 843B), Electric motor Vehicles (¥ 218B), Shovels and excavators with revolving superstructure (¥ 188B), Dump trucks (off-highway) (¥ 152B), and Iron/Steel Sheets: Thin, Hot-Rolled, Wide Coils (¥ 132B).

Explore Visualizations

Subscribe today to OEC pro and access the latest data

Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Oct 2023 - Oct 2024)

United States ¥ 19.2B (19.6%)

Canada ¥ 6.84B (121%)

Sweden ¥ 5.87B (839%)

Rapidly Declining Export Origins (Oct 2023 - Oct 2024)

Australia ¥ -10.7B (-83.3%)

China ¥ -5.26B (-36%)

Singapore ¥ -3.99B (-81.2%)

Subscribe today to OEC pro and access the latest data

Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Australia¥ 541B

Top Import (2023)Crude Petroleum Oils¥ 559B

In 2023 the top import origins of Ibaraki were Australia (¥ 541B), United Arab Emirates (¥ 320B), United States (¥ 312B), Saudi Arabia (¥ 218B), and Brazil (¥ 151B).

In 2023 the top imports of Ibaraki were Crude Petroleum Oils (¥ 559B), Bituminous coal, not agglomerated (¥ 493B), Petroleum spirit for motor vehicles (¥ 174B), Unagglomerated Iron Ore Concentrate (Excl. Iron... (¥ 170B), and Liquefied Natural Gas (¥ 143B).

Explore Visualizations

Subscribe today to OEC pro and access the latest data

Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Oct 2023 - Oct 2024)

United Arab Emirates ¥ 27.7B (158%)

United States ¥ 3.14B (15.5%)

Kuwait ¥ 3.01B (162%)

Rapidly Declining Import Origins (Oct 2023 - Oct 2024)

Saudi Arabia ¥ -15.1B (-46.2%)

South Africa ¥ -6.41B (-76.2%)

Austria ¥ -3.87B (-73.9%)

Subscribe today to OEC pro and access the latest data

Economic Complexity

Economic Complexity of Ibaraki

View

Geomap

Treemap

Economic Complexity (2023)0.46

Ibaraki ranks 21st out of the 41 prefectures in Japan according to ECI.

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

Discover Economic Complexity

Subscribe today to OEC pro and access the latest data

Economic Complexity Ranking

Value

Ranking

Value

The economic complexity of a territory can change year to year. Ibaraki it is in position 21st considering its ECI in the last year.

Discover Economic Complexity

Subscribe today to OEC pro and access the latest data

Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Ibaraki already has a comparative advantage, are led by Acrylic Polymers (0.074), Cellulose (0.074), Ethers (0.073), Acyclic Hydrocarbons (0.073), and Silicone (0.072).

Subscribe today to OEC pro and access the latest data

Most Complex Products by PCI

The highest complexity exports of Ibaraki according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.04), Lubricating Products (1.68), Epoxides (1.67), Phenols (1.47), Flat Flat-Rolled Steel (1.44), Other Nitrogen Compounds (1.38), Petroleum Resins (1.24), Aldehydes, cyclic polymers, and paraformaldehyde (1.14), Halogenated Hydrocarbons (1.08), and Steel Wire (1.07). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Subscribe today to OEC pro and access the latest data

Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Steam Turbines (39.56), Large Construction Vehicles (38.75), Vehicle Bodies (including cabs) for the... (35.63), Hot-Rolled Iron (29.71), and Sodium or Potassium Peroxides (19.25).

Subscribe today to OEC pro and access the latest data

Product Space

RCA Filter

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 Ibaraki is 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.

Subscribe today to OEC pro and access the latest data

Relatedness Space

This network shows the products most related to the production structure of Ibaraki. These are products that tend to be co-exported with the products that Ibaraki exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

Subscribe today to OEC pro and access the latest data

Diversification Frontier

Depth

Section

HS2

HS4

Filter

All

RCA≤1

RCA>1

The Complexity-Relatedness diagram compares the risk and the strategic value of a territory'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. Bubble size corresponds to exports value by year 2020.