![]() Mineral fuels including oil: -US$143.4 billion (Up by 46.4% since 2020).These negative net exports reveal product categories where foreign spending on home country Japan’s goods trail Japanese importer spending on foreign products. Japan incurred an overall -$12.9 billion trade deficit for 2021, reversing $6.3 billion in black ink in 2020.īelow are exports from Japan that result in negative net exports or product trade balance deficits. In turn, these cashflows indicate Japan’s strong competitive advantages under the vehicles product category. Japan has notably positive net exports in the international trade of automobiles thanks to world-leading automotive corporations including Toyota, Honda, Nissan and Mitsubishi Motors. Rubber, rubber articles: $4.9 billion (38.1%) Photo/cinematographic goods: $5.1 billion (39.5%)ġ0. Other chemical goods: $7.1 billion (55.1%)ĩ. Plastics, plastic articles: $13 billion (100.3%)Ĩ. Optical, technical, medical apparatus: $14.8 billion (114.2%)ĥ. Machinery including computers: $75.9 billion (586.8%)Ĥ. Vehicles: US$114.7 billion (886.3% of total exports)Ģ. In a nutshell, net exports represent the amount by which foreign spending on a home country’s goods or services exceeds or lags the home country’s spending on foreign goods or services.ġ. Investopedia defines net exports as the value of a country’s total exports minus the value of its total imports. The following types of Japanese product shipments represent positive net exports or a trade balance surplus for 2021. For a more granular view of exported goods at the four-digit HTS code level, see the section Searchable List of Japan’s Most Valuable Export Products further down near the bottom of this article. Note that the results listed above are at the categorized two-digit Harmonized Tariff System (HTS) code level. The most modest increase among Japan’s top 10 export categories belongs to gems and precious metals thanks to a 7.1% improvement. ![]() Japan’s shipments of organic chemicals posted the third-fastest gain in value up by 22.8% year over year. In second place for improving export sales was copper which appreciated 37.7%. Iron and steel as materials represent the fastest growers among the top 10 export categories, up by 51.9% since 2020. Japan’s top 10 exports accounted for roughly three-quarters (75.5%) of the overall value of its global shipments. Gems, precious metals: $14.3 billion (1.9%).Other chemical goods: $14.6 billion (1.9%).Organic chemicals: $18.3 billion (2.4%).Plastics, plastic articles: $30.3 billion (4%).Optical, technical, medical apparatus: $43 billion (5.7%).Electrical machinery, equipment: $117.9 billion (15.6%).Machinery including computers: US$147.1 billion (19.5% of total exports).Also shown is the percentage share each export category represents in terms of overall exports from Japan. The following export product groups categorize the highest dollar value in Japanese global shipments during 2021. That per-capita dollar amount compares with an average $5,100 one year earlier in 2020. Given Japan’s population of 125.8 million people, its total $756 billion in 2021 exported products translates to roughly $6,000 for every resident in the East Asian island nation. Smaller percentages went to Oceania (2.6%) led by Australia, Latin America (2.2%) excluding Mexico but including the Caribbean, then Africa (1.3%). Japan shipped another 12.5% worth of goods to Europe. Japan ranks among world-leading nations for exporting cars and automotive parts or accessories and is a major competitor among Asian nations in the international trade of electronic circuits.įrom a continental perspective, 60.9% of Japan exports by value were delivered to fellow Asian countries while 20.5% were sold to importers in North America. That group of commodities suggests a relatively diversified range of exported goods. In aggregate, that quintet of major exports account for about one quarter (25.5%) of overall export sales from Japan. Japan’s 5 biggest export products by value in 2021 were cars, electronic circuits and microassemblies, automotive parts or accessories, semiconductor-making machinery, and heavy machinery such as bulldozers, excavators or road rollers. In contrast, Japan’s exports were relatively costlier from 2017 to 2021 for international buyers starting from the weaker US dollar in 2017. Japan’s weaker local currency since 2020 made exports paid for in stronger US dollars relatively less expensive in 2021. That dollar amount reflects a 17.9% gain since 2020 and an 8.3% increase from 2017 to 2021.īased on the average exchange rate for 2021, the Japanese yen has appreciated by 2.2% against the US dollar since 2017 but decreased by -2.8% from 2020 to 2021. By Japan shipped US$756 billion worth of goods around the globe in 2021.
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