Japan is the fourth-richest country in the world

The world’s fourth-richest country Japan, shipped US$645.2 billion worth of goods around the world in 2016, that figure is down by -19.2% since 2012 but up by 3.2% from 2015 to 2016. The second biggest sector which isn’t surprising is machinery at $124 billion. Of that total amount of exports in 2016, Japan’s exports to America totaled $130.5 billion, or 20.2% of its overall exports last year. Japan’s biggest export: Automobiles, of course. $50.2 billion worth of automobiles sold in the U.S. with the Toyota Corolla being the automobile sold the most. China purchased the second most vehicles from Japan amounting to $11.3 billion in sales. Surprisingly, fruits and nuts raised in Japan amounted to $187.2 in sales which were the fastest growing exports in 2016. Fruits and nuts? Dairy products, eggs and honey came in second as the fastest growing exports at around $35.4 million.

The following export product groups represent the highest dollar value in Japanese global shipments during 2016. Also shown is the percentage share each export category represents in terms of overall exports from Japan.

1.   Vehicles : US$141.9 billion (22% of total exports)
2.   Machinery including computers: $124 billion (19.2%)
3.   Electrical machinery, equipment: $98.3 billion (15.2%)
4.   Optical, technical, medical apparatus: $35.9 billion (5.6%)
5.   Iron, steel: $24.5 billion (3.8%)
6.   Plastics, plastic articles: $23.4 billion (3.6%)
7.   Organic chemicals: $15.9 billion (2.5%)
8.   Gems, precious metals: $14 billion (2.2%)
9.   Ships, boats: $12.8 billion (2%)
10. Rubber, rubber articles: $9.8 billion (1.5%)

Being the fourth-richest country in 2016, Japan bought US$607.1 billion worth of imported products down by -31.5% since 2012 and down by -2.9% from 2015 to 2016. As to be expected, Japan’s biggest import expense was $110.7 billion in oil of which $18.9 billion was imported from Saudi Arabia and $16.7 billion from UAE countries. Most of that imported oil is refined in Japan. And believe it or not, Japan imported foreign manufactured vehicles worth $20.9 billion. As to be expected, Japan imports its pharmaceuticals from the US and Germany totaling $4.9 billion and $3.8 billion respectively. Japan also imports from the US and Germany what is referred to as “aircraft and spacecraft” totaling over $5 billion. Spacecraft?