The Kamakura and Ashikaga Shogunates are the builders of the ethnic culture and traditions of the place. Beyond its enchanting land beauty and fascinating history the country is also famous for its excavating range of imports from different nations which has led to a GDP of 6.37 trillion US dollars and an import value of 800 billion US dollars in 2023 followed by the import value of 766 billion US dollars and 728 billion US dollars in 2022 and 2021 says the Japan Trade Customs Shipment Data. The top import partners facilitating the import trade business of Japan are (China – 150 billion USD), (US – 140 billion USD), (South Korea – 50 billion USD), (Australia – 40 billion USD), (Germany – 35 billion USD).

The country is recording its name among the top global trade holders with a rapidly increasing export trade business across the globe and quality-equipped products. The export trade value of the nation in 2023 has stood up at a value of 900 billion US dollars followed by the previous year’s rate of 735 billion US dollars and 698 billion US dollars in 2022 and 2021. The top export partners contributing to the annual generated revenue of Japan are (China – 168 billion USD), (US – 149 billion USD), (South Korea – 84 billion USD), (Hong Kong – 45 billion USD), (Thailand – 37 billion USD).

Top Imported Products of Japan in 2023

Due to the rapidly increasing demands of domestic necessities ranging from industrial essentials to agricultural goods the country is slowly moving forward on the way to become one of the top traders across the globe. As per the Japan Import Data, the top 10 products that the country imported in 2023 from different nations across the globe with its trade values are discussed below,

• Mineral fuels (HS code - 27) – The import of mineral fuels stays at a staggering value of 208 billion US dollars in 2023.

• Electrical machinery (HS code - 85) – The import of electrical machinery stays at a staggering value of 188 billion US dollars in 2023.

• Machinery (HS code - 84) – The import of machinery stays at a staggering value of 84 billion US dollars in 2023.

• Vehicles (HS code - 87) – The import of cars stays at a staggering value of 87 billion US dollars in 2023.

• Iron and steel (HS code - 72) – The import of iron and steel stays at a staggering value of 51 billion US dollars in 2023.

• Organic Chemicals (HS code - 29) – The import of organic chemicals stays at a staggering value of 40 billion US dollars in 2023.

• Plastics (HS code - 95) – The import of plastics stays at a staggering value of 35 billion US dollars.

• Medical equipment (HS code - 90) – The import of medical equipment stays at a staggering value of 33 billion US dollars in 2023.

• Optical and medical instruments (HS code - 90) – The import of optical and medical instruments stays at a staggering value of 31 billion US dollars in 2023.

• Inorganic chemicals (HS code - 28) – The import of inorganic chemicals stays at a staggering value of 30 billion US dollars in 2023.

Top Import Trade Partners of Japan in 2023

The trade destination from which Japan imports most of its products contributes a huge to the stability of the overall economy of the nation. As per the Japan Customs Data, the top 10 import trade destinations of Japan in 2023 with the trade contribution and values are discussed below,

• China – The total value of imported products from China in Japan 2023 is 150 billion US dollars, Total share – 24%

• United States – The total value of imported products from United States in Japan 2023 is 140 billion US dollars, Total share – 12%

• South Korea – The total value of imported products from South Korea in Japan 2023 is 50 billion US dollars, Total share – 6%

• Australia – The total value of imported products from Australia in Japan 2023 is 40 billion US dollars, Total share – 5%

• Germany – The total value of imported products from Germany in Japan 2023 is 35 billion US dollars, Total share – 4%

• Thailand – The total value of imported products from Thailand in Japan 2023 is 30 billion US dollars, Total share – 4%

• Vietnam – The total value of imported products from Vietnam in Japan 2023 is 25 billion US dollars, Total share – 3%

• India – The total value of imported products from India in Japan 2023 is 20 billion US dollars, Total share – 2%

• United Kingdom – The total value of imported products from United Kingdom in Japan 2023 is 15 billion US dollars, Total share – 2%

• Netherlands – The total value of imported products from the Netherlands in Japan in 2023 is 10 billion US dollars, Total share – 1%

Top Exported Products of Japan in 2023

Due to the higher production rates of the industries and the increased incentives of government in the free trade of products, the country has emerged as one of the top global exporters with its wide range of exports. As per the Japan Export Data, the top 10 exported products of the nation in 2023 with their trade values are discussed below,

• Automobiles (HS code - 87) – The export of automobiles stays at a staggering value of 187 billion US dollars in 2023.

• Machinery (HS code - 84) – The export of automobiles stays at a staggering value of 140 billion US dollars in 2023.

• Electronic equipment (HS code - 85) – The export of electronic equipment stays at a staggering value of 130 billion US dollars in 2023.

• Optical instruments (HS code - 90) – The export of optical instruments stays at a staggering value of 80 billion US dollars in 2023.

• Iron and steel (HS code - 72) – The export of iron and steel stays at a staggering value of 70 billion US dollars in 2023.

• Plastics and rubber products (HS code - 65) – The export of plastic and rubber products stays at a staggering value of 60 billion US dollars in 2023.

• Organic chemicals (HS code - 29) – The export of organic chemicals stays at a staggering value of 40 billion US dollars in 2023.

• Clothing and accessories (HS code - 43) – The export of clothing and accessories stays at a staggering value of 36 billion US dollars in 2023.

• Iron or steel products (HS code - 73) – The export of iron or steel products stays at a staggering value of 29 billion US dollars in 2023.

• Plastics and rubber articles (HS code - 65) – The export of plastic and rubber articles stays at a staggering value of 28 billion US dollars in 2023.

Top Export Trade Partners of Japan in 2023

The Japan Trade Data enlists the below-mentioned nations as the top 10 export trade partners of Japan in 2023 the trade value of these countries in 2023 is discussed below,

• China – The total value of exported products from China in Japan 2023 is 168 billion US dollars, Total share – 20%

• United States – The total value of exported products from the United States to in Japan 2023 is 149 billion US dollars, Total share – of 17%

• South Korea – The total value of exported products from South Korea in Japan 2023 is 84 billion US dollars, Total share – 10%

• Hong Kong – The total value of exported products from Hong Kong in Japan 2023 is 45 billion US dollars, Total share – 7%

• Thailand – The total value of exported products from Thailand in Japan 2023 is 37 billion US dollars, Total share – 7%

• Taiwan – The total value of exported products from Taiwan in Japan 2023 is 35 billion US dollars, Total share – 6%

• Singapore – The total value of exported products from Singapore in Japan 2023 is 34 billion US dollars, Total share – 6%

• Germany – The total value of exported products from Germany in Japan 2023 is 29 billion US dollars, Total share – 5%

• United Kingdom – The total value of exported products from United Kingdom in Japan 2023 is 27 billion US dollars, Total share – 4%

• Australia – The total value of exported products from Australia in Japan 2023 is 26 billion US dollars, Total share – 3%

FAQ’s

Que. What is the GDP of Japan in 2023?
Ans. The GDP of Japan in 2023 is 6.37 trillion US dollars.

Que. What is the total export value of Japan in 2023?
Ans. The total export value of Japan in 2023 is 900 billion US dollars.

Que. Where can you get a detailed trade analysis of Japan's 2023 trade?
Ans. At Import Globals, you can get a detailed trade analysis of Japan's 2023 trade.

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