Japan’s exports to Iran described as “grim” with Japan’s shrinking manufacturing facing intense global competition

It’s always worth taking a look at what Japan is exporting to get a better idea of Japan’s export driven economy and how “healthy” it is, or unhealthy it is. It’s like getting a physical examination done this time with Japan’s manufacturing sector. There are always plenty of websites to go to for information and dug these exporting figures out from a site that tracks exports of different countries. Granted, the following numbers in US Dollars are statistics from 2015, this year will probably find these export amounts lower than last year. What is worth noting is that while Japan’s steel production is down by 34.7 percent, Iran’s production of steel is astonishing. Who would have ever thought Iran as a major manufacturer of steel? What must be a real blow to Japan Inc., is a report released this past May, 2016 describing Japan’s “exports to Iran as grim” in the face of global economic competition. Globalism is the big equalizer. Wake up and smell the roses, I mean coffee, I mean reality, Japan. I provided an opportunity for you in 2014 in Qatar for several of your corporations and you shook me off, now experience some pain until you hopefully get a balanced grip on your corporate arrogance.

Source: World’s Top Exports

Japan’s Top 10 Exports

June 7, 2016
by Daniel Workman

Exports from Japan amounted to US$625.1 billion in 2015, down -25.1% since 2011 with a -9.5% decline from 2014 to 2015. Japan’s top 10 exports accounted for 77.5% of the overall value of its global shipments.

Based on statistics from the International Monetary Fund’s World Economic Outlook Database, Japan’s total Gross Domestic Product amounted to $4.842 billion in 2015.

Therefore, exports accounted for about 12.9% of total Japanese economic output.

From a continental perspective, 58% of Japanese exports by value are delivered to other Asian countries while 23.1% are sold to North American importers. Japan ships another 12% to Europe.

Given Japan’s population of 126.9 million people, its total $625.1 billion in 2015 exports translates to roughly $4,925 for every resident in the island nation.

Japan’s unemployment rate was an estimated 3.6% in 2016.
Japan’s Top 10 Exports

The following export product groups represent the highest dollar value in Japanese global shipments during 2015. Also shown is the percentage share each export category represents in terms of overall exports from Japan:

Vehicles: US$134 billion (21.4% of total exports)
Machines, engines, pumps: $117.7 billion (18.8%)
Electronic equipment: $95.6 billion (15.3%)
Medical, technical equipment: $35.7 billion (5.7%)
Iron and steel: $27.5 billion (4.4%)
Plastics: $22.5 billion (3.6%)
Organic chemicals: $17.9 billion (2.9%)
Ships, boats: $11.4 billion (1.8%)
Oil: $11.4 billion (1.8%)
Rubber: $10.3 billion (1.6%)

All of the above product categories suffered declines in value from 2011 to 2015, led by ships and boats which fell by 56.1%.

International sales for Japanese iron and steel dropped in value by 34.7%, followed by a 31.3% decrease for exported machinery and a 31.2% downward bounce for rubber.

The slowest declining category among the top 10 Japanese exports was vehicles which was down by 9.5%.