Imports/Exports in Japan
Foreign trade is an essential element of the Japanese economy, but the country is not sufficiently open. Trade represents about 30% of Japan's GDP. Even though it is the second economic power, Japan ranks fifth as a global importer and imposes extensive non-tariff barriers, mainly in the agricultural sector. Structurally, Japan has a high positive trade balance, however this surplus has been reduced heavily during the crisis, due to the fall on exports which have increased again in 2010 (as well as imports), these are supported by the dynamic Asian demand despite the increase of the value of the yen.
The earthquake and tsunami that struck Japan on 11 March 2011, as well as environmental and health concerns related to the situation in the Fukushima Daiichi Nuclear Power Plant, including the proven risks of contamination of the food chain, have hurt Japanese exports. Many countries have decided to introduce systematic checks on certain imports from Japan. Other countries have simply decided to suspend imports, including agricultural products. Observers expect that Japan's exports decline of 0.5% - 1.6% and imports increase of 0.4% - 1.3% for the year 2011.
The main trade partners of Japan are the United States, China, Southeast Asia and Saudi Arabia.
|Foreign Trade Indicators||2006||2007||2008||2009||2010|
|Imports of Goods (million USD)||579,064||622,243||762,534||551,981||692,621|
|Exports of Goods (million USD)||646,725||714,327||781,412||580,719||769,839|
|Imports of Services (million USD)||133,900||148,685||167,443||146,965||155,235|
|Exports of Services (million USD)||115,140||127,060||146,440||125,918||137,555|
|Imports of Goods and Services (Annual % Change)||4.2||1.6||0.8||-16.7||-|
|Exports of Goods and Services (Annual % Change)||9.5||-||-||-||-|
|Imports of Goods and Services (in % of GDP)||14.9||15.9||17.4||12.2||-|
|Exports of Goods and Services (in % of GDP)||16.1||17.6||17.5||12.5||-|
|Trade Balance (million USD)||81,303||104,752||38,131||43,632||-|
|Trade Balance (Including Service) (million USD)||63,046||83,502||17,341||-||-|
|Foreign Trade (in % of GDP)||31.0||33.6||34.9||24.8||-|
Source: WTO - World Trade Organization ; World Bank
Main Partner Countries
(% of Exports)
|Other partnersClose extended list||46.9%|
(% of Imports)
|United Arab Emirates||4.2%|
|Other partnersClose extended list||52.0%|
Exchange Rate System
- Exchange Rate Regime
- Independently floating
- Level of Currency Instability
|Japanese Yen (JPY) - Average Annual Exchange Rate For 1 USD||110.22||116.30||117.75||103.36||93.57|
Source: World Bank
Any Comments About This Content? Report It to Us.
Retail & Consumer Goods Japan 2009
G&S INT Japan on 2 Mar 2010 related to Imports/Exports in Japan
In 2012, the United States held a 7.7% value share of Japan's $1,037 million imported bottled wine market. This was an increase from the 7.5% share in 2011.
Foreign Agricultural Service on 20 Mar 2013 related to Imports/Exports in Japan
Part of USDA, the United StatesThe Foreign Agricultural Service (FAS) of the U.S. Department of Agriculture (USDA) works to improve foreign market...
Market Entry in Japan, JapanG&S is a sales & marketing agency based in London/Tokyo, focussing on international business between Europe...