Foreign commodity trade value of Japan 2014-2023

In 2023, the total value of foreign trade in Japan amounted to around 211.1 trillion Japanese yen. Trade declined only slightly from the previous year, following the recover from the coronavirus pandemic in the previous year. 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 38 percent 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.