Miyagi | The Observatory of Economic Complexity

Miyagi

Prefecture in Tōhoku Region of Japan

2023
Economic
Complexity 0.12Rank 31 of 41

Oct 2024
Trade
Exports | Imports ¥ 33.2B | ¥ 87.3B17 of 41 | 18 of 41

Oct 2024
Country
Destination | Origin United States | Saudi Arabia ¥ 9.2B | ¥ 26B

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Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Miyagi. In October 2024 Miyagi was the number 17 in total exports and the number 18 in total imports in Japan.

Exports In 2023, Japan's Miyagi exported ¥ 336B, making it the 17th largest exporter out of the 41 exporters in Japan. In 2023 the top exports of Miyagi were New Rubber Pneumatic Tyres for Motor... (¥ 81.1B), Lithium-Ion Batteries (¥ 38.5B), Petroleum spirit for motor vehicles (¥ 15.3B), Nickel-Metal Hydride Electric Accumulators (Including Separators,... (¥ 14.2B), and Toluene (¥ 13.9B).

Imports In 2023, Japan's Miyagi imported ¥ 1.07T, making it the 18th largest importer out of the 41 importers in Japan. In 2023 top imports of Miyagi were Crude Petroleum Oils (¥ 369B), Liquefied Natural Gas (¥ 117B), Petroleum spirit for motor vehicles (¥ 61.8B), Propane, liquefied (¥ 45.8B), and Bituminous coal, not agglomerated (¥ 31.1B).

Economic Complexity In 2023, the highest complexity exports of Miyagi according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.04), Blank Audio Media (1.91), Polymer Ion-Exchangers (1.74), Other Stainless Steel Bars (1.51), Tool Plates (1.47), Carboxyamide Compounds (1.42), Signaling Glassware (1.42), Industrial Printers (1.31), Acrylic Polymers (1.3), and Telephones (1.24). 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 Miyagi exported ¥33.2B and imported ¥87.3B, resulting in a negative trade balance of ¥54.2B. Between October 2023 and October 2024 the exports of Miyagi have decreased by $-189M (-0.57%) from ¥33.3B to ¥33.2B, while imports decreased by ¥-6.59B (-7.02%) from ¥93.9B to ¥87.3B.

Trade In October 2024, the top exports of Miyagi were Electric Batteries (¥7.83B), Rubber Tires (¥5.8B), Refined Petroleum (¥3.3B), Cyclic Hydrocarbons (¥2.48B), and Engine Parts (¥1.54B). In October 2024 the top imports of Miyagi were Crude Petroleum (¥36.6B), Non-fillet Frozen Fish (¥7.46B), Refined Petroleum (¥4.34B), Petroleum Gas (¥3.53B), and Insulated Wire (¥2.26B).

Destinations In October 2024, Miyagi exported mostly to United States (¥9.2B), China (¥4.62B), South Korea (¥4.56B), France (¥2.71B), and Singapore (¥2.02B), and imported mostly from Saudi Arabia (¥26B), United States (¥16.6B), China (¥9.22B), United Arab Emirates (¥6.39B), and Kuwait (¥6.05B).

Growth In October 2024, the decrease in Miyagi's year-by-year exports was explained primarily by an decrease in exports to China (¥-1.54B or -25.1%), United States (¥-668M or -6.77%), and Germany (¥-452M or -98.7%), and product exports decrease in Rubber Tires (¥-2.56B or -30.6%), Blank Audio Media (¥-664M or -81.4%), and Scrap Iron (¥-508M or -38%). In October 2024, the decrease in Miyagi's year-by-year imports was explained primarily by an decrease in imports from Kuwait (¥-9.43B or -60.9%), Indonesia (¥-2.31B or -48.2%), and Canada (¥-2.2B or -63%), and product imports decrease in Petroleum Gas (¥-8.01B or -69.4%), Coal Briquettes (¥-4.51B or -99.2%), and Refined Petroleum (¥-2.36B or -35.2%).

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)¥-189M(-0.57%)

IMPORT GROWTH (October 2023 - October 2024)¥-6.59B(-7.02%)

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

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)United States¥ 92.5B

Top Product (2023)New Rubber Pneumatic Tyres for Motor...¥ 81.1B

In 2023 the top export destinations of Miyagi were United States (¥ 92.5B), South Korea (¥ 45.7B), China (¥ 40.4B), France (¥ 28.6B), and Thailand (¥ 16.3B).

In 2023 the top exports of Miyagi were New Rubber Pneumatic Tyres for Motor... (¥ 81.1B), Lithium-Ion Batteries (¥ 38.5B), Petroleum spirit for motor vehicles (¥ 15.3B), Nickel-Metal Hydride Electric Accumulators (Including Separators,... (¥ 14.2B), and Toluene (¥ 13.9B).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Oct 2023 - Oct 2024)

Singapore ¥ 1.92B (2k%)

Mexico ¥ 569M (161%)

Chinese Taipei ¥ 480M (51.2%)

Rapidly Declining Export Origins (Oct 2023 - Oct 2024)

China ¥ -1.54B (-25.1%)

United States ¥ -668M (-6.77%)

Germany ¥ -452M (-98.7%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Saudi Arabia¥ 221B

Top Import (2023)Crude Petroleum Oils¥ 369B

In 2023 the top import origins of Miyagi were Saudi Arabia (¥ 221B), United States (¥ 143B), China (¥ 116B), Kuwait (¥ 84.2B), and Australia (¥ 68.8B).

In 2023 the top imports of Miyagi were Crude Petroleum Oils (¥ 369B), Liquefied Natural Gas (¥ 117B), Petroleum spirit for motor vehicles (¥ 61.8B), Propane, liquefied (¥ 45.8B), and Bituminous coal, not agglomerated (¥ 31.1B).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Oct 2023 - Oct 2024)

Saudi Arabia ¥ 17.8B (218%)

United Arab Emirates ¥ 2.51B (64.6%)

Philippines ¥ 810M (103%)

Rapidly Declining Import Origins (Oct 2023 - Oct 2024)

Kuwait ¥ -9.43B (-60.9%)

Indonesia ¥ -2.31B (-48.2%)

Canada ¥ -2.2B (-63%)

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Economic Complexity

Economic Complexity of Miyagi

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Geomap

Treemap

Economic Complexity (2023)0.12

Miyagi ranks 31st 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. Miyagi it is in position 31st 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 Miyagi already has a comparative advantage, are led by Oxometallic or Peroxometallic Acid Salts (0.097), Oscilloscopes (0.09), Crustaceans (0.089), Sawn Wood (0.088), and Fish Fillets (0.087).

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Most Complex Products by PCI

The highest complexity exports of Miyagi according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.04), Blank Audio Media (1.91), Polymer Ion-Exchangers (1.74), Other Stainless Steel Bars (1.51), Tool Plates (1.47), Carboxyamide Compounds (1.42), Signaling Glassware (1.42), Industrial Printers (1.31), Acrylic Polymers (1.3), and Telephones (1.24). 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 Steel Bars (81.44), Rubber Tires (56.20), Ink Ribbons (46.06), Tool Plates (34.17), and Hot-Rolled Iron Bars (34.03).

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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 Miyagi 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 Miyagi. These are products that tend to be co-exported with the products that Miyagi 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.