Wakayama

Prefecture in Kansai Region of Japan

2019
Economic
Complexity
: 0.59, Rank 15 of 41

Feb 2021
Trade
Exports | Imports
: ¥ 18.9B | ¥ 20.2B, 16 of 41 | 21 of 41

Feb 2021
Country
Destination | Origin
: China | United Arab Emirates , ¥ 2.83B  | ¥ 9.48B

Feb 2021
Product
Exports | Imports
: Refined Petroleum | Crude Petroleum , ¥ 6.94B  | ¥ 13.1B

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

Exports: In 2020, Japan's Wakayama exported ¥ 296B, making it the 16th largest exporter out of the 41 exporters in Japan. In 2020 the top exports of Wakayama were Steel, stainless: seamless, casing and tubing,... (¥ 62.4B), Light petroleum distillates nes (¥ 54.4B), Iron or steel (excluding cast iron... (¥ 40.5B), Semi-finished bars, iron or non-alloy steel... (¥ 37.7B), and Iron or steel (excluding cast iron... (¥ 18B).

Imports: In 2020, Japan's Wakayama imported ¥ 170B, making it the 22nd largest importer out of the 41 importers in Japan. In 2020 top imports of Wakayama were Petroleum oils, oils from bituminous minerals,... (¥ 81.1B), Acyclic ethers nes, derivatives of acyclic... (¥ 17B), Iron ore, concentrate, not iron pyrites,unagglomerate (¥ 14.8B), Petroleum spirit for motor vehicles (¥ 14.7B), and Organic compounds, nes (¥ 5.92B).

Economic Complexity: In 2019, the highest complexity exports of Wakayama according to the product complexity index (PCI) are Photographic Chemicals (2.16), Phenols (1.41), Knitting Machines (1.27), Textile Processing Machines (1.22), and Other Paper Machinery (1.18). 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 Wakayama'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): Taiwan, ¥ 36.8B

Top Product (2020): Steel, stainless: seamless, casing and tubing,..., ¥ 62.4B

In 2020 the top export destinations of Wakayama were Taiwan (¥ 36.8B), China (¥ 28.1B), South Korea (¥ 26.7B), Norway (¥ 24B), and Singapore (¥ 21.9B).

In 2020 the top exports of Wakayama were Steel, stainless: seamless, casing and tubing,... (¥ 62.4B), Light petroleum distillates nes (¥ 54.4B), Iron or steel (excluding cast iron... (¥ 40.5B), Semi-finished bars, iron or non-alloy steel... (¥ 37.7B), and Iron or steel (excluding cast iron... (¥ 18B).

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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): United Arab Emirates, ¥ 39.7B

Top Import (2020): Petroleum oils, oils from bituminous minerals,..., ¥ 81.1B

In 2020 the top import origins of Wakayama were United Arab Emirates (¥ 39.7B), United States (¥ 30.7B), Saudi Arabia (¥ 27.5B), Australia (¥ 11.3B), and Qatar (¥ 9.12B).

In 2020 the top imports of Wakayama were Petroleum oils, oils from bituminous minerals,... (¥ 81.1B), Acyclic ethers nes, derivatives of acyclic... (¥ 17B), Iron ore, concentrate, not iron pyrites,unagglomerate (¥ 14.8B), Petroleum spirit for motor vehicles (¥ 14.7B), and Organic compounds, nes (¥ 5.92B).

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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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Wakayama ranks 15th 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. Wakayama it is in position 15th 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 Wakayama already has a comparative advantage, are led by Epoxides (0.042), Photo Lab Equipment (0.039), Silicone (0.038), Unsaturated Acyclic Monocarboxylic Acids (0.036), and Saturated Acyclic Monocarboxylic Acids (0.036).

Most Complex Products by PCI

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The highest complexity exports of Wakayama according to the product complexity index (PCI) are Photographic Chemicals (2.16), Phenols (1.41), Knitting Machines (1.27), Textile Processing Machines (1.22), and Other Paper Machinery (1.18). 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 Iron Pipes (245), Knitting Machines (243), Semi-Finished Iron (82.8), Polishes and Creams (40.7), and Book-binding Machines (27.8).

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