Top Japanese Imports & Exports in 2007

In 2007, Japan exported an estimated US$677 billion worth of goods onto the international trade marketplace. Japanese imports totalled $572 billion, resulting in Japan’s overall $105-billion trade surplus last year.

Japan’s largest trade partner, the United States consumes 20.4% of total Japanese exports. Other leading customers for Japanese products include neighbouring countries like China (15.3%), South Korea (7.6%), Taiwan (6.3%) and Hong Kong (5.4%).

Among the world’s largest and technologically advanced manufacturers, Japan generates industrial exports led by automotive products, semiconductors, electrical machinery and chemicals.

China accounts for 20.5% of Japan’s imported products, followed by the U.S. at 11.5%. Other leading exporters into Japan are Saudi Arabia (5.7%), United Arab Emirates (5.2%), Australia (5%), South Korea (4.4%) and Indonesia (4.2%).

Japanese Trade Surplus with U.S.

Japan enjoyed a robust US$62.7-billion trade surplus with its American trade partner in 2007. The most recent surplus statistic is 20.5% higher than the Japan-US surplus in 2003 and represents a 5.1% increase from Japan’s $59.6-billion surplus in 2006.

Exports from Japan to U.S.

With a population of 127.3 million, Japan exported US$145.5 billion worth of merchandise to the United States in 2007, a 1.8% decrease from 2006 and up by 23.2% in 4 years. The following product categories represent about 59% of Japanese exports to America.

1. New and used passenger cars … US$43.6 billion (30% of Japan-to-U.S. exports) – up 0.1% from 2006
2. Other automotive parts and accessories … $10 billion (6.9%) – down 3.7%
3. Other industrial machinery … $6.7 billion (4.6%) – up 17.3%
4. Computer accessories … $5.5 billion (3.8%) – up 2.7%
5. Electric apparatus and parts … $4 billion (2.7%) – down 2.7%
6. Engines and engine parts … $3.8 billion (2.6%) – down 4.7%
7. Semiconductors … $3.5 billion (2.4%) – up 2.5%
8. Machine tools, metal working, molding and rolling … $3 billion (2.1%) – down 19.7%
9. Telecommunications equipment … $2.7 billion (1.9%) – down 4.9%
10. Motorcycles and parts … $2.6 billion (1.8%) – down 17.9%.

Fastest-Growing Japanese Exports to U.S.

Below are selected Japanese exports to America in 2007 among those with the highest percentage sales increases from 2006.

1. DVDs, tapes and disks … US$853.6 million (up 532.6% from 2006)
2. Railway transportation equipment … $225.8 million (up 150.4%)
3. Precious metals other than gold … $246.5 million (up 83.2%)
4. Nickel … $23.6 million (up 60.5%)
5. Food and tobacco processing machinery … $100.5 million (up 36%).

Japanese Imports from America

Japanese imports from the U.S. rose by 5.1% to $62.7 billion in 2007, up 20.5% since 2003.

Of American exports to Japan in 2007, the following product categories had the highest values and in total represented 60% of all U.S. shipments into Japan.

1. Complete civilian aircraft … US$4.2 billion (6.6% of Japanese imports from America) – up 18.8% from 2006
2. Other industrial machines … $2.9 billion (4.6%) – up 23%
3. Corn … $2.6 billion (4.2%) – up 33.9%
4. Medicinal equipment … $2.5 billion (4.1%) – down 4.6%
5. Telecommunications equipment … $2 billion (3.3%) – down 0.6%
6. Semiconductors … $1.7 billion (2.8%) – down 15.9%
7. Pharmaceutical preparations … $1.68 billion (2.7%) – down 6.5%
8. Organic chemicals … $1.67 billion (2.7%) – up 17.1%
9. Measuring, testing and control instruments … $1.5 billion (2.4%) – down 10.1%
10. Civilian aircraft parts … $1.5 billion (2.4%) – up 7.6%.

Fastest-Growing Japanese Imports from America

Below are selected American exports to Japan in 2007 with the highest percentage sales increases from 2006.

1. Leather and furs … US$91.7 million (up 1,451%)
2. Business machines and equipment … $139.5 million (up 160.4%)
3. Steelmaking materials … $394.5 million (up 146.4%)
4. Nonfarm tractors and parts … $92.7 million (up 116.8%)
5. Marine engines and parts … $72.9 million (up 108.8%).

Sources for this Article

This article presents independent calculations and insights based on data drawn from the CIA World Factbook and the U.S. Census Bureau – Foreign Trade Statistics.

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