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2023
Exports $31.6BWorld Rnk 3 / 219
Flag Rnk 5 / 96
2023
Destination $192M South Korea
2022 - 2023
FASTEST GROWING MARKET $192MIndia
2023
PRODUCT COMPLEXITY IN Iron & steel1.66Rnk 26 / 1025
2023
Imports $8.26BWorld Rnk 19 / 224
Flag Rnk 17 / 96
2023
Origin $271M South Korea
2022 - 2023
FASTEST GROWING ORIGIN $271MSouth Korea
2023
ECONOMIC COMPLEXITY of Japan2.07Rnk 1 / 132

About

Exports In 2023, Japan exported $31.6B in Iron & steel, making it the 3rd largest exporter of Iron & steel in the world. At the same year, Iron & steel was the 5th most exported product in Japan. The main destination of Iron & steel exports from Japan are: South Korea ($5.24B), Thailand ($4.31B), China ($3.42B), Indonesia ($2.34B), and Vietnam ($1.99B).

The fastest growing export markets for Iron & steel of Japan between 2022 and 2023 were India ($192M), Mexico ($186M), and Saudi Arabia ($108M).

Imports In 2023, Japan imported $8.26B in Iron & steel, becoming the 19th largest importer of Iron & steel in the world. At the same year, Iron & steel was the 17th most imported product in Japan. Japan imports Iron & steel primarily from: South Korea ($3.17B), China ($1.39B), Chinese Taipei ($914M), Kazakhstan ($534M), and Brazil ($368M).

The fastest growing import markets in Iron & steel for Japan between 2022 and 2023 were South Korea ($271M), United States ($7.77M), and Italy ($6.7M).

COMPANIES In 2023, leading companies such as Ford Motor Company (17), Stanley Black & Decker (15), and Nissan (11) were at the forefront of shipping Iron & steel from Japan to the United States.

Latest Trends

November 2024

About

Overview In November 2024 Japan's Iron & steel exports accounted up to ¥310B and imports accounted up to ¥98.4B, resulting in a positive trade balance of ¥212B. Between November 2023 and November 2024 the exports of Japan's   Iron & steel have decreased by ¥-32.3B (-9.43%) from ¥342B to ¥310B, while imports increased by ¥8.63B (9.61%) from ¥89.8B to ¥98.4B.

Destinations In November 2024, Iron & steel were exported mostly to South Korea (¥45.4B), Thailand (¥39.6B), China (¥34.1B), Vietnam (¥33.2B), and Indonesia (¥24.6B), and were imported mostly from South Korea (¥37B), China (¥22.8B), Chinese Taipei (¥10.1B), Kazakhstan (¥6.06B), and Brazil (¥3.94B).

Growth In November 2024, the decrease in Iron & steel's year-by-year exports was explained primarily by a decrease in exports to Pakistan (¥-6.99B or -98.9%), Bangladesh (¥-5.19B or -59.5%), and United Arab Emirates (¥-4.88B or -91.3%). In November 2024, the increase in Iron & steel's year-by-year imports was explained primarily by an increase in imports from Chinese Taipei (¥2.55B or 23.7%), Brazil (¥1.45B or 44.7%), and New Caledonia (¥840M or 104%).

Subnational Monthly Trade

Time Scale
Flow
Color
EXPORT GROWTH (November 2023 - November 2024)¥-32.3B(-9.43%)
IMPORT GROWTH (November 2023 - November 2024)¥8.63B(9.61%)
MAIN EXPORTER (November 2024)Chiba¥51.6B
MAIN DESTINATION (November 2024)South Korea¥45.4B

This section shows Iron & steel's exports and imports data at subnational level for Japan. Click any date in the line plot, any subnational region in the geomap, or any destination or origin country to explore the exports or imports behavior of Iron & steel over time.

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Historical Data

Trade Balance

Color
EXPORTS (2023)$31.6B
IMPORTS (2023)$8.26B
NET TRADE (2023)$23.3B

In 2023, Japan exported $31.6B in Iron & steel. The main destinations of Japan exports on Iron & steel were South Korea ($5.24B), Thailand ($4.31B), China ($3.42B), Indonesia ($2.34B), and Vietnam ($1.99B).

In 2023, Japan imported $8.26B in Iron & steel, mainly from South Korea ($3.17B), China ($1.39B), Chinese Taipei ($914M), Kazakhstan ($534M), and Brazil ($368M).

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Export Destinations (2023)

Import Origins (2023)

Market Growth

Flow
THE FASTEST GROWING Iron & steel EXPORT MARKETS FOR Japan WERE (2022 - 2023):
India$192M (15.5%)
Mexico$186M (12%)
Saudi Arabia$108M (67%)
THE FASTEST DECLINING MARKETS FOR THE EXPORT OF Iron & steel BY Japan WERE (2022 - 2023):
China-$1.62B (-32.2%)
South Korea-$1.54B (-22.7%)
Thailand-$680M (-13.6%)
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Change in Exports by Market (2022 - 2023)

Market Concentration

View
Flow
Type
In 2023, Japan's main exporting competitors in Iron & steel were:
China $66.2B
Germany $32.6B
In 2023, Japan's main importing competitors in Iron & steel were:
China $35.2B
United States $33.1B
Germany $27.8B

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Trade Value of Iron & steel by Exporters

Potential Exports

Potential Exports

Flow
View
TOP EXPORT POTENTIALUnited States+ $442M
TOP IMPORT POTENTIALChina+ $541M

Iron & steel’s highest export potential is United States. With an export gap of $442M.   Iron & steel’s highest import potential is China with an import gap of $541M.

See methodology.

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