Japan’s trade openness has increased significantly in the last decades as the country is working towards market liberalization and the expansion of trade relations. However, despite the increasing number of bilateral agreements created with trading partners, the United States and China remain Japan's biggest export markets. In 2024, the United States received around ** percent of commodities leaving Japan. China followed with a **** percent share, with general and electrical machinery being major goods exported from Japan to the East Asian partner. What goods are leaving Japan? Japan exported commodities valued at around *** trillion Japanese yen in 2024. Transport equipment and machinery were the leading commodities leaving the country, driven by the prominence of domestic automotive and machinery brands in the global market. Motor vehicles are a long-standing pillar of the export market, with widely recognized brands like Honda, Mazda, Mitsubishi, Nissan, and Toyota originating from Japan. Japan’s export position in the global market The demand for Japanese goods has been rising globally, pushed by the favorable impression of quality products among consumers and businesses. While Japan is not a heavily trade-dependent nation, the trade openness ratio jumped to an all-time high in 2022, as the sum of imports and exports constituted almost ** percent share of the gross domestic product. Commodity exports are the main segment in the trade accounts of the Japanese GDP, whereas service exports are a minor segment.

Japan's total Exports in 2024 were valued at US$707.39 Billion, according to the United Nations COMTRADE database on international trade. Japan's main export partners were: the United States, China and South Korea. The top three export commodities were: Vehicles other than railway, tramway; Machinery, nuclear reactors, boilers and Electrical, electronic equipment. Total Imports were valued at US$742.67 Billion. In 2024, Japan had a trade deficit of US$35.28 Billion.

Japan receives almost **** of its commodity imports from Asia, as China remains a key trade partner. In 2024, commodities imported from China accounted for a **** percent share of imports on a value basis. The United States followed as the second-largest source of goods entering Japan, while it overtook China as the leading export partner in 2024. What goods are entering Japan? The country’s low energy self-sufficiency and lack of reserves makes ************* like *********, *********************, and **** a key import item. Another commodity group important to domestic manufacturers is electrical machinery, including semiconductors and communications devices. As Japan is home to prominent multinational corporations in the automotive, technology, and consumer electronics industries, semiconductors have become a strategic element to the country’s economic success. While the Japanese government plans to revive the domestic semiconductor industry through financial support, imports of integrated circuits from production areas like Taiwan and South Korea are needed to meet demand. Japan’s import position in the global market Japan’s current account of goods and services is characterized by a deficit as imports exceed exports. The country managed to shrink the deficit in the last decade, but it grew again since 2022. A jump in mineral fuel prices and the weakening of the yen compared to major currencies like the U.S. dollar and euro drove up import costs. Apart from China, major trade partners with whom Japan recorded a negative trade balance include mostly suppliers of ************* like *********, ************, and the ********************.

Throughout the early 20th century, Germany and Japan were both among the largest trading partners of the United States. Although the United States would declare war on Germany twice and on Japan once during this time, at which points trade would virtually cease, trade ties were fairly strong in the years without war. Values were highest in the *****, before global trade fell in the ***** due to the impact of the Great Depression. All three countries were severely hit by the Depression, however the decline in trade was compounded by rising tensions between the U.S. and the new far-right governments of both Germany and Japan. After the war, U.S. investment in both nations increased significantly, helping with their post-war recovery and giving the U.S. a strong level of influence over its former adversaries - West Germany and Japan would then emerge as the two largest economies in their respective regions during the post-World War II economic boom.

Japan's total Imports in 2024 were valued at US$742.67 Billion, according to the United Nations COMTRADE database on international trade. Japan's main import partners were: China, the United States and Australia. The top three import commodities were: Mineral fuels, oils, distillation products; Electrical, electronic equipment and Machinery, nuclear reactors, boilers. Total Exports were valued at US$707.39 Billion. In 2024, Japan had a trade deficit of US$35.28 Billion.

Top Import Trading Partners of Japan with import value and Year on Year growth comparison

In 2024, Mexico was the top trading partner of the United States based on import value. In that year, U.S. imports from Mexico totaled to 505.85 billion U.S. dollars. China and Canada rounded out the top three as these countries continue to enjoy a close trading relationship under the United States-Mexico-Canada trade agreement. Germany and Japan were also high on the list, both providing the U.S. with over 140 billion dollars worth of imports in 2024.

Brazil Automobile Main Trading Partners: Exports: Japan data was reported at 82.600 USD mn in 2018. This records an increase from the previous number of 67.700 USD mn for 2017. Brazil Automobile Main Trading Partners: Exports: Japan data is updated yearly, averaging 80.300 USD mn from Dec 2006 (Median) to 2018, with 13 observations. The data reached an all-time high of 131.400 USD mn in 2014 and a record low of 20.200 USD mn in 2009. Brazil Automobile Main Trading Partners: Exports: Japan data remains active status in CEIC and is reported by National Association of Automobile Manufacturers. The data is categorized under Brazil Premium Database’s Automobile Sector – Table BR.RAE005: Automobile Main Trading Partners: Exports: Japan. Export data in value include assembled and knocked-down vehicles, agricultural and highway construction machinery, engines and components manufactured by ANFAVEA member companies.

Access Japan trade data with updated export-import records. Discover major products, top buyers and suppliers, HS codes, and real-time shipment data.

Western Europe, U.S.A., British India, China, Taiwan, Korea, Overall Index

Western Europe, U.S.A., British India, China, Manchuria (incl. Kwang-tung Province), Taiwan, Korea, Overall Index

Exports: ytd: APEC: Japan data was reported at 874.100 USD mn in Jan 2022. This records a decrease from the previous number of 10.748 USD bn for Dec 2021. Exports: ytd: APEC: Japan data is updated monthly, averaging 4.720 USD bn from Feb 2004 (Median) to Jan 2022, with 216 observations. The data reached an all-time high of 19.855 USD bn in Dec 2014 and a record low of 188.000 USD mn in Jan 2005. Exports: ytd: APEC: Japan data remains active status in CEIC and is reported by Federal Customs Service. The data is categorized under Global Database’s Russian Federation – Table RU.JAA006: Exports: by Main Trading Partners: ytd. Data release delayed due to the Ukraine-Russia conflict. No estimation on next release date can be made.

Brazil Automobile Main Trading Partners: Imports: Japan: Vehicles data was reported at 176.700 USD mn in 2018. This records an increase from the previous number of 114.300 USD mn for 2017. Brazil Automobile Main Trading Partners: Imports: Japan: Vehicles data is updated yearly, averaging 325.800 USD mn from Dec 2006 (Median) to 2018, with 13 observations. The data reached an all-time high of 647.900 USD mn in 2011 and a record low of 114.300 USD mn in 2017. Brazil Automobile Main Trading Partners: Imports: Japan: Vehicles data remains active status in CEIC and is reported by National Association of Automobile Manufacturers. The data is categorized under Brazil Premium Database’s Automobile Sector – Table BR.RAE012: Automobile Main Trading Partners: Imports: Japan. Export data in value include assembled and knocked-down vehicles, agricultural and highway construction machinery, engines and components manufactured by ANFAVEA member companies.

In 2024, the total value of foreign trade in Japan reached almost *** trillion Japanese yen. Trade reached a decade-high due to strong exports amid a weak yen. Japan’s trade openness ratio grew rapidly in the last decade as regulations were loosened to open domestic markets to foreign businesses. Trade commodities Durable goods such as electrical machinery, general machinery, and transport equipment are the main trade commodities in Japan. Machinery and motor vehicles are integral parts of the export market due to the global market positions of successful Japanese multinational manufacturers like Toyota Motor Corporation, Honda Motor Company, Ltd., and Komatsu Ltd. among others. Trade partners Japan's main trade partners are China and the United States, which between them receive more than a third of all goods exported from Japan. While the country records a surplus in its trade with the United States, the balance of trade with China is characterized by a deficit, as imports exceed the value of exports. However, to diversify its supply chain and broaden foreign distribution channels, the country entered into free trade agreements with neighboring nations and other Western partners.

The European Union has experienced a shift in its biggest trade partners since the early 2000s. Over the past two decades, the share of EU imports flowing from China has more than doubled, from around 8 percent in 2002 to over 20 percent in 2024, making China the EU's largest external import partner. At the same time, the proportion of total imports coming from the United Kingdom, which was historically a large importer to EU countries (the UK was an EU member state until 2020), have more than halved, from 18 percent to less than 7 percent. This secular trend existed before the UK voted to leave the EU in 2016, however, there has been a notable drop in imports from the UK since Brexit was enacted in 2020. By contrast the share of the EU's import trade taken by the U.S., Switzerland, and the Rest of World have remained relatively stable over this period. The share of exports coming from Russia was growing steadily in the period before 2014, after which the EU imposed economic sanctions on Russia due to the illegal annexation of Crimea from Ukraine. Imports from Russia collapsed in 2023, due to the effect of the additional economic sanctions placed on Russia in response to the full scale invasion of Ukraine in February of 2022.The Russian Federation is now only the tenth-largest exporter to the EU, after India, Japan, and South Korea.

In 2023, Liberia was the leading export destination for Japan in Africa, with over *** billion Japanese yen. South Africa followed as the second-largest trade partner in Africa, with transport equipment and general machinery representing major export goods.

In this paper, time-series and cross-country data spanning from January 2020 to December 2020 are adopted to empirically investigate the impact of the COVID-19 pandemic on exports and imports in China, Japan, and South Korea. In the models, industrial production, trade openness, government response (including monetary and fiscal intervention), and the pandemic impact of major trade partners are controlled. In addition, the three countries, China, Japan, and South Korea, are also estimated separately in consideration of the cross-country disparity. The results show that domestic epidemics in China, Japan, and South Korea have a non-significant (statistically significant) effect on imports, but are negatively correlated with exports in Japan; epidemics in major trading partners are negatively correlated with imports in Japan and positively correlated with exports in China and South Korea; and government intervention is positively correlated with imports in China and positively correlated with exports in China, Japan, and South Korea.

Ireland recorded an intense drop in contact lensexports owing to reduced demand from its major trade partners, Japan, the U.S and China. In value terms, exports fell from $1.4B in 2019 to $1.2B in 2020. The supplies to Japan, the U.S and China shrank by -3.2%, -15.8% and -4.1% y-o-y, respectively. The average export price for contact lenses from Ireland increased +5.9% y-o-y to $0.4 per unit last year.

In 2022, the value of exports from Japan to China amounted to ** trillion Japanese yen, representing a decade-high. China is a major trade partner for Japanese exports along with the United States.

Canada Trade Balance: NAPCS: BOP: sa: Japan data was reported at 175.200 CAD mn in Sep 2018. This records an increase from the previous number of -43.600 CAD mn for Aug 2018. Canada Trade Balance: NAPCS: BOP: sa: Japan data is updated monthly, averaging -4.900 CAD mn from Jan 1988 (Median) to Sep 2018, with 369 observations. The data reached an all-time high of 607.000 CAD mn in Jul 1996 and a record low of -338.400 CAD mn in Sep 2002. Canada Trade Balance: NAPCS: BOP: sa: Japan data remains active status in CEIC and is reported by Statistics Canada. The data is categorized under Global Database’s Canada – Table CA.JA002: Trade Balance: NAPCS 2007: Seasonally Adjusted (Discontinued). Changed from NAPCS 2007 to NAPCS 2017. Replacement series ID: 411686687