Japan Exports YoY

Since 1960, exports of high-technology products have been the primary driver of Japan's economic growth. Approximately 19% of overall GDP is accounted for by exports. Due to global trade tensions, exports decreased by 5.6% in 2019 compared to the previous year's record high. Among the most important exports were transport equipment (24% of total exports), motor vehicles (16%) machinery (20%), on the back of power generating machine and semicon machinery, electrical machinery (17%), which included semiconductors, integrated circuits, and electrical apparatus, chemicals (11%), which included plastic materials and organic chemicals, and manufactured goods (11%), such as iron and steel products, nonferrous metals and manufactures of metals. Japan's primary export partners were the United States (20%), China (19%), the European Union (12%), Germany (3%) South Korea (7%) Taiwan (6%) Hong Kong (5%) and Thailand (4%).