Japan is the 5th largest importer and exporter in the world. Like many of the other Asian countries that have experienced rapid economic growth in the past few decades, exports have had a historical significance to the Japanese economy. The belief in the need to promote exports is part of Japan's self-image as a "processing nation." Japan imports raw materials and pays for them by processing the raw materials, thus adding value to them before exporting the output. In recent years, Japan has been the top export market for 15 trading nations worldwide.
Today, Japan plays a competitive role in international trade, although it still maintains protectionist policies in numerous industries, particularly in agriculture. The 2008 global financial crisis badly affected international trade in Japan – exports declined by 30.8 percent in 2009 from $746.5 billion in 2008 to $516.3 billion in 2009.
Japan is currently a member of multiple international trade organizations such as APEC, WTO, OECD, the G-8 and the G-20. Unlike most other countries, Japan is advancing towards Economic Partnership Agreements (EPAs) rather than Free Trade Agreements (FTAs). According to former Japanese Prime Minister Taro Aso, countries move on to discuss higher-level issues in EPAs, such as "devising framework through which investment can take place in a secure manner, or developing a mechanism to ensure protection of intellectual property rights".
List of Japanese EPAs
ASEAN-Japan Comprehensive Economic Partnership Agreement
Japan-Brunei Economic Partnership Agreement
Japan-Indonesia Economic Partnership Agreement
Japan-Malaysia Economic Partnership Agreement
Japan-Philippines Economic Partnership Agreement
Japan-Singapore Economic Partnership Agreement
Japan-Thailand Economic Partnership Agreement
Japan Vietnam Economic Partnership Agreement
Japan-Australia Economic Partnership Agreement
Japan-Chile Economic Partnership Agreement
Japan-India Economic Partnership Agreement
Japan-Mexico Economic Partnership Agreement
Japan-Peru Economic Partnership Agreement
Japan-Republic of Korea Economic Partnership Agreement
Japan-Switzerland Economic Partnership Agreement
Japan’s Import and Export Indicators and Statistics at a Glance (2010)
Total value of exports: US$765.2 billion
Primary exports - commodities: transport equipment, motor vehicles, semiconductors, electrical machinery, chemicals
Primary exports partners: China (18.88 percent of total exports), US (16.42 percent), South Korea (8.13 percent), Taiwan (6.27 percent), Hong Kong (6.27 percent)
Total value of imports: US$636.8 billion
Primary imports - commodities: machinery and equipment, fuels, foodstuffs, chemicals, textiles, raw materials
Primary imports partners: China (22.2 percent of total imports), US (10.96 percent), Australia (6.29 percent), Saudi Arabia (5.29 percent), UAE (4.12 percent), South Korea (3.98 percent), Indonesia (3.95 percent)
Today, Japan plays a competitive role in international trade, although it still maintains protectionist policies in numerous industries, particularly in agriculture. The 2008 global financial crisis badly affected international trade in Japan – exports declined by 30.8 percent in 2009 from $746.5 billion in 2008 to $516.3 billion in 2009.
Japan is currently a member of multiple international trade organizations such as APEC, WTO, OECD, the G-8 and the G-20. Unlike most other countries, Japan is advancing towards Economic Partnership Agreements (EPAs) rather than Free Trade Agreements (FTAs). According to former Japanese Prime Minister Taro Aso, countries move on to discuss higher-level issues in EPAs, such as "devising framework through which investment can take place in a secure manner, or developing a mechanism to ensure protection of intellectual property rights".
List of Japanese EPAs
ASEAN-Japan Comprehensive Economic Partnership Agreement
Japan-Brunei Economic Partnership Agreement
Japan-Indonesia Economic Partnership Agreement
Japan-Malaysia Economic Partnership Agreement
Japan-Philippines Economic Partnership Agreement
Japan-Singapore Economic Partnership Agreement
Japan-Thailand Economic Partnership Agreement
Japan Vietnam Economic Partnership Agreement
Japan-Australia Economic Partnership Agreement
Japan-Chile Economic Partnership Agreement
Japan-India Economic Partnership Agreement
Japan-Mexico Economic Partnership Agreement
Japan-Peru Economic Partnership Agreement
Japan-Republic of Korea Economic Partnership Agreement
Japan-Switzerland Economic Partnership Agreement
Japan’s Import and Export Indicators and Statistics at a Glance (2010)
Total value of exports: US$765.2 billion
Primary exports - commodities: transport equipment, motor vehicles, semiconductors, electrical machinery, chemicals
Primary exports partners: China (18.88 percent of total exports), US (16.42 percent), South Korea (8.13 percent), Taiwan (6.27 percent), Hong Kong (6.27 percent)
Total value of imports: US$636.8 billion
Primary imports - commodities: machinery and equipment, fuels, foodstuffs, chemicals, textiles, raw materials
Primary imports partners: China (22.2 percent of total imports), US (10.96 percent), Australia (6.29 percent), Saudi Arabia (5.29 percent), UAE (4.12 percent), South Korea (3.98 percent), Indonesia (3.95 percent)
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