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Japan struggling to boost exports in growth industries

  • 2015-06-09 15:00:00
  • , Asahi
  • Translation

(Asahi: June 9, 2015 – p. 7)

 

 It has been learned that the Ministry of Economy, Trade and Industry (METI) reckons that Japan has performed poorly amid competition to export products that are subject to increasing demand in the world. METI plans to include the results of its analysis in its trade white paper for 2015 to be released in July.

 

 Japan’s total exports in 2014 amounted to 73.1 trillion yen, ranking fourth after China, the United States, and Germany. According to the draft white paper, the ministry compared the percentages of exports of countries (in 2014), focusing on “products whose exports are rising in major nations.” Japan’s exports of these products were at the 40% level, while China was at 89%, and Britain, South Korea and Germany were all at the 70% level.

 

 As for the percentages of products whose export quantities and unit prices have increased, Japan’s exports of these products amounted for less than 40% (quantity) and 50% (unit price) of its total exports, which were both at the lowest level among major nations. METI believes that inflexibility in the type of products exported has led to economic stagnation. The draft white paper points out that demand for IT-related products, carbon fiber, and industrial robots is expected to expand.

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