Ibaraki

Prefecture in Kantō Region of Japan

2019
Economic
Complexity
: 0.53, Rank 18 of 41

Feb 2021
Trade
Exports | Imports
: ¥ 77.6B | ¥ 97.4B, 11 of 41 | 10 of 41

Feb 2021
Country
Destination | Origin
: United States | Australia , ¥ 28.6B  | ¥ 19.9B

Feb 2021
Product
Exports | Imports
: Cars | Crude Petroleum , ¥ 21.5B  | ¥ 24.3B

Overview: This page contains the latest international trade data for Ibaraki, including export and import data.

Exports: In 2020, Japan's Ibaraki exported ¥ 1.12T, making it the 11th largest exporter out of the 41 exporters in Japan. In 2020 the top exports of Ibaraki were Medium Sized Cars (¥ 504B), Shovels and excavators with revolving superstructure (¥ 68.3B), Dump trucks designed for off-highway use (¥ 41.4B), Parts of cranes, work-trucks, shovels, constr... (¥ 40.9B), and Iron or non-alloy steel: in coils,... (¥ 29.1B).

Imports: In 2020, Japan's Ibaraki imported ¥ 1.12T, making it the 10th largest importer out of the 41 importers in Japan. In 2020 top imports of Ibaraki were Petroleum oils, oils from bituminous minerals,... (¥ 262B), Bituminous coal, not agglomerated (¥ 144B), Iron ore, concentrate, not iron pyrites,unagglomerate (¥ 113B), Petroleum spirit for motor vehicles (¥ 59.6B), and Maize except seed corn (¥ 58.6B).

Economic Complexity: In 2019, the highest complexity exports of Ibaraki according to the product complexity index (PCI) are Transmissions (1.59), Other Organo-Inorganic Compounds (1.56), Lubricating Products (1.51), Epoxides (1.47), and Flat Flat-Rolled Steel (1.47). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Comparison in Time

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Flow
Value

This section shows the differences between Ibaraki's total subnational aggregate trade throughout time. To explore the trade patterns of the country, visit Japan's country profile.

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Yearly Exports

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Value
Depth

Top Destination (2020): United States, ¥ 572B

Top Product (2020): Medium Sized Cars, ¥ 504B

In 2020 the top export destinations of Ibaraki were United States (¥ 572B), China (¥ 102B), South Korea (¥ 60.4B), Australia (¥ 48B), and India (¥ 33.2B).

In 2020 the top exports of Ibaraki were Medium Sized Cars (¥ 504B), Shovels and excavators with revolving superstructure (¥ 68.3B), Dump trucks designed for off-highway use (¥ 41.4B), Parts of cranes, work-trucks, shovels, constr... (¥ 40.9B), and Iron or non-alloy steel: in coils,... (¥ 29.1B).

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Exports Dynamics

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Fastest Growing Exports Destination (Feb 2020 - Feb 2021)

Rapidly Declining Export Origins (Feb 2020 - Feb 2021)

Yearly Imports

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Value
Depth

Top Origin (2020): Australia, ¥ 204B

Top Import (2020): Petroleum oils, oils from bituminous minerals,..., ¥ 262B

In 2020 the top import origins of Ibaraki were Australia (¥ 204B), United States (¥ 167B), Russia (¥ 76.9B), Qatar (¥ 73.7B), and Germany (¥ 71.5B).

In 2020 the top imports of Ibaraki were Petroleum oils, oils from bituminous minerals,... (¥ 262B), Bituminous coal, not agglomerated (¥ 144B), Iron ore, concentrate, not iron pyrites,unagglomerate (¥ 113B), Petroleum spirit for motor vehicles (¥ 59.6B), and Maize except seed corn (¥ 58.6B).

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Imports Dynamics

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Fastest Growing Import Origins (Feb 2020 - Feb 2021)

Rapidly Declining Import Origins (Feb 2020 - Feb 2021)

Economic Complexity

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Economic Complexity of Japan

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Ibaraki ranks 18th out of the 41 prefectures in Japan according to ECI.

Estimated using exports data.

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Economic Complexity Ranking

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Scale

The economic complexity of a territory can change year to year. Ibaraki it is in position 18th considering its ECI in the last year.

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Export Opportunities by Relatedness

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The top export opportunities according to the relatedness level, without considering those products were Ibaraki already has a comparative advantage, are led by Ethers (0.093), Silicone (0.093), Fork-Lifts (0.088), X-Ray Equipment (0.086), and Acrylic Polymers (0.082).

Most Complex Products by PCI

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The highest complexity exports of Ibaraki according to the product complexity index (PCI) are Transmissions (1.59), Other Organo-Inorganic Compounds (1.56), Lubricating Products (1.51), Epoxides (1.47), and Flat Flat-Rolled Steel (1.47). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Most Specialized Products by RCA Index

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The most specialized products according to the RCA index are led by Large Construction Vehicles (36.8), Hot-Rolled Iron (33.2), Vehicle Bodies (29.1), Cyclic Hydrocarbons (23.4), and Sodium or Potassium Peroxides (21).

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.

Relatedness Space

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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.

Diversification Frontier

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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.