Mt. Fuji with Sakura (Cherry blossom)
Mt. Fuji is more than just the highest mountain in Japan. It is the symbol of the country with so many artists having been inspired by its presence.
Mt. Fuji “Fujisan, Sacred place and source of artistic inspiration” was inscribed as a UNESCO world heritage site in 2013.
And about Sakura (cherry blossoms), from late March to mid-April, Japan’s iconic Sakura capture the attention of visitors and locals as their beautiful pink flowers blanket the country in soft, colorful splendor.
The Japanese economy has been recovering on the whole, led by domestic demand, mainly personal consumption, since its turnaround in late 2012.
Looking at the current state of Japan’s economy, progress can be seen toward economic recovery and overcoming deflation under Abenomics. Nominal GDP, real GDP and GDP deflator in FY 2015 grew from the previous year for the first time in 18 years.
Economy name Japan Capital Tokyo Area 377,962 km² Climate Four distinct seasons Population Around 127.08 million Language Japanese Currency Japanese Yen (JPY)
Economic Indicators(Unit: USD, 2015)
GDP 4.602 trillion GDP per capita 36,221 Economic Growth Rate -0.1% Total Exports 694.3 billion Total Imports 817.1 billion Trade Balance -122.8 billion
Export and Import Tendency
In 2015, Japan’s exports increased 4% to ¥75.6 trillion although the depreciating yen boosted exports. On a volume basis, exports turned to a decline again.
By commodity category, exports of Motor Vehicles (USA and UK) and Semiconductors etc. (Taiwan) went up. On the other hand, exports of Organic Chemicals (China), Iron & Steel Products (R. Korea), and Mineral Fuels (Hong Kong) went down. Exports to USA rose 12% to ¥15.2 trillion, surpassing exports to China (down1% to ¥13.2 trillion) for the third consecutive year. USA continued to be Japan’s largest export partner in 2015.
Japan’s imports declined for the first time in six years, falling 9% to ¥78.5 trillion, mainly due to the declined imports of Mineral Fuels, which kept growing since 2011 when the operation of nuclear power plants were suspended in the aftermath of the Great East Japan Earthquake, as crude oil prices plummeted. Also on a volume basis, Japan’s imports declined for the first time in six years (down 2.8%). By commodity category, imports of Petroleum (Saudi Arabia), LNG (Qatar), and Petroleum Products (R. Korea) went down. Imports from China, Japan’s largest import partner, grew 1% to ¥19.4 trillion, breaking the highest record for the fourth consecutive year.(Unit: Million USD, %)
Year Exports Rate of Change Import Rate of Change 2014 912,075 8.3 946,023 7.2 2013 841,977 1.2 882,759 3.1 2012 831,898 -0.2 856,317 5.3 2011 833,977 -0.4 813,431 5.9 2010 837,037 24.8 768,048 11.1 Top 5 Export Items Motor Vehicles, Semiconductors etc, Parts of Motor Vehicles, Iron and Steel Products, Power Generating Machine Top 5 Import Items Petroleum, LNG, Clothing and Accessories, Semiconductors etc, Telephony Telegraphy Top 5 Export Partners United States, China, Korea, Taiwan, Hong Kong Top 5 Import Partners China, United States, Australia, Saudi Arabia ,UAE
Duty and Customs Clearance
Related Government Agencies
- Japan Customs – http://www.customs.go.jp/english/index.htm
- Ministry of Justice – http://www.moj.go.jp/ENGLISH/index.html
- Ministry of Land, Infrastructure, Transport and Tourism – http://www.mlit.go.jp/en/index.html
- Minister of Economy, Trade and Industry – http://www.meti.go.jp/english/index.html
- Ministry of Agriculture, Forestry and Fisheries – http://www.maff.go.jp/e/index.html
Japan – Trade StatisticsSungheun Ha