Mie | The Observatory of Economic Complexity

Mie

Prefecture in Kansai Region of Japan

2023
Economic
Complexity 0.69Rank 10 of 41

Jan 2024
Trade
Exports | Imports ¥ 87.9B | ¥ 197B13 of 41 | 9 of 41

Jan 2024
Country
Destination | Origin China | Saudi Arabia ¥ 13B | ¥ 62.1B

Image 1

Image by Manish Prabhune
Link: https://flic.kr/p/dR71DZ

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Mie. In January 2024 Mie was the number 13 in total exports and the number 9 in total imports in Japan.

Exports In 2023, Japan's Mie exported ¥ 1.1T, making it the 13th largest exporter out of the 41 exporters in Japan. In 2023 the top exports of Mie were Spark-ignition non chargeable Cars (¥ 118B), Commodities not specified according to kind (¥ 95.8B), Petroleum spirit for motor vehicles (¥ 69.5B), Transmissions for motor vehicles (¥ 67.4B), and Light petroleum distillates nes (¥ 58.5B).

Imports In 2023, Japan's Mie imported ¥ 2.65T, making it the 9th largest importer out of the 41 importers in Japan. In 2023 top imports of Mie were Petroleum oils, oils from bituminous minerals,... (¥ 1.3T), Natural gas, liquefied (¥ 378B), Nickel mattes (¥ 137B), Bituminous coal, not agglomerated (¥ 104B), and Petroleum spirit for motor vehicles (¥ 75.1B).

Economic Complexity In 2023, the highest complexity exports of Mie according to the product complexity index (PCI) are Photographic Chemicals (2.17), Metalworking Transfer Machines (2.04), Other Esters (2.03), Phosphoric Esters and Salts (1.84), Iron Fasteners (1.79), Lubricating Products (1.68), Metal Finishing Machines (1.64), Flat-Rolled Stainless Steel (1.61), Nucleic Acids (1.57), and Transmissions (1.51). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

January, 2024

About

Overview In January 2024 Mie exported ¥87.9B and imported ¥197B, resulting in a negative trade balance of ¥109B. Between January 2023 and January 2024 the exports of Mie have increased by $9.19B (11.7%) from ¥78.7B to ¥87.9B, while imports decreased by ¥-20.6B (-9.46%) from ¥218B to ¥197B.

Trade In January 2024, the top exports of Mie were Refined Petroleum (¥12.3B), Cars (¥9.98B), Commodities not elsewhere specified (¥9.13B), Motor vehicles; parts and accessories (8701... (¥7.08B), and Coal Tar Oil (¥4.12B). In January 2024 the top imports of Mie were Crude Petroleum (¥99.1B), Petroleum Gas (¥41.5B), Nickel Mattes (¥8.5B), Refined Petroleum (¥6.32B), and Coal Briquettes (¥4.61B).

Destinations In January 2024, Mie exported mostly to China (¥13B), United Kingdom (¥8.42B), South Korea (¥7.7B), United States (¥7.31B), and Taiwan (¥6.53B), and imported mostly from Saudi Arabia (¥62.1B), United States (¥27.7B), United Arab Emirates (¥21.6B), Indonesia (¥12.9B), and Malaysia (¥8.13B).

Growth In January 2024, the increase in Mie's year-by-year exports was explained primarily by an increase in exports to Singapore (¥6.25B or 1.27k%), Mexico (¥4.01B or 1.03k%), and United Kingdom (¥3.29B or 58.4%), and product exports increase in Refined Petroleum (¥4.67B or 59%), Commodities not elsewhere specified (¥2.32B or 49.2%), and Motor vehicles; parts and accessories (8701... (¥1.96B or 36.1%). In January 2024, the decrease in Mie's year-by-year imports was explained primarily by an decrease in imports from Malaysia (¥-12.7B or -93.3%), Qatar (¥-6.08B or -78.5%), and Kuwait (¥-3.64B or -72.5%), and product imports decrease in Other Heating Machinery (¥-1.19B or -98.7%), Rubber (¥-978M or -34.4%), and Acyclic Alcohols (¥-392M or -95.3%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (January 2023 - January 2024)¥9.19B(11.7%)

IMPORT GROWTH (January 2023 - January 2024)¥-20.6B(-9.46%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)China¥ 159B

Top Product (2023)Spark-ignition non chargeable Cars¥ 118B

In 2023 the top export destinations of Mie were China (¥ 159B), United Kingdom (¥ 107B), South Korea (¥ 99.3B), United States (¥ 91.3B), and Thailand (¥ 91.2B).

In 2023 the top exports of Mie were Spark-ignition non chargeable Cars (¥ 118B), Commodities not specified according to kind (¥ 95.8B), Petroleum spirit for motor vehicles (¥ 69.5B), Transmissions for motor vehicles (¥ 67.4B), and Light petroleum distillates nes (¥ 58.5B).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Belgium ¥ 5.56B (743%)

Taiwan ¥ 3.48B (114%)

Australia ¥ 2.73B (1.03k%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

Singapore ¥ -3.8B (-56.3%)

Mexico ¥ -3.61B (-82%)

South Korea ¥ -2.82B (-26.8%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Saudi Arabia¥ 875B

Top Import (2023)Petroleum oils, oils from bituminous minerals,...¥ 1.3T

In 2023 the top import origins of Mie were Saudi Arabia (¥ 875B), United Arab Emirates (¥ 395B), Indonesia (¥ 242B), Australia (¥ 223B), and United States (¥ 104B).

In 2023 the top imports of Mie were Petroleum oils, oils from bituminous minerals,... (¥ 1.3T), Natural gas, liquefied (¥ 378B), Nickel mattes (¥ 137B), Bituminous coal, not agglomerated (¥ 104B), and Petroleum spirit for motor vehicles (¥ 75.1B).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

United States ¥ 20.5B (285%)

Malaysia ¥ 7.22B (797%)

Mexico ¥ 6.63B (13.6k%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

Australia ¥ -36.4B (-88.6%)

United Arab Emirates ¥ -15.5B (-41.7%)

Indonesia ¥ -8.75B (-40.4%)

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Economic Complexity

Economic Complexity of Mie

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Geomap

Treemap

Economic Complexity (2023)0.69

Mie ranks 10th 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.

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Economic Complexity Ranking

Value

Ranking

Value

The economic complexity of a territory can change year to year. Mie it is in position 10th considering its ECI in the last year.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Mie already has a comparative advantage, are led by Epoxides (0.15), Phenols (0.14), Machinery Having Individual Functions (0.14), Metal Pickling Preparations (0.14), and Oxometallic or Peroxometallic Acid Salts (0.14).

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Most Complex Products by PCI

The highest complexity exports of Mie according to the product complexity index (PCI) are Photographic Chemicals (2.17), Metalworking Transfer Machines (2.04), Other Esters (2.03), Phosphoric Esters and Salts (1.84), Iron Fasteners (1.79), Lubricating Products (1.68), Metal Finishing Machines (1.64), Flat-Rolled Stainless Steel (1.61), Nucleic Acids (1.57), and Transmissions (1.51). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Flat panel displays (178.76), Polishes and Creams (56.51), Photographic Chemicals (47.62), Other Inorganic Acids Salts (34.74), and Carboxyamide Compounds (32.99).

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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 Mie 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.

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Relatedness Space

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

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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.