Japan-US Formed Alliance On Trade Agreement With Each Other

15 December 2021
US Japan Trade Data

On the 17th of November 2021 USA and Japan signed a trade agreement on the basis of conditions that will prosper both of the country’s trade with each other as the major objective. Office of the US Trade Representative (USTR) and Japan’s Ministry of Foreign Affairs with Japan’s Ministry of Economy, Trade, and Industry signed this agreement with the intent to grow the cooperation between both countries and regulate smooth trade flows with each other.

 

The USA and Japan had a shared import and export agreement for further strengthening of this cooperation between countries in all trade-related matters. Get in-depth information on the import and export activities of the USA and Japan from our import-export online intelligence.

 

US-Japan Trade (Jan 2020-Sep 2021)

 

Interdependence of the USA and Japan are represented in both countries trade data. Table 1 shows the imports of the USA from Japan for the take time range of Q1-2020 to Q3-2021. Table 2 highlights the quarterly imports of Japan from the USA during the same taken time range of Q1-2020 to Q3-2021. Access USA import data and Japan import data according to the requirement of your trade data queries and strategize your business operations accordingly.

 

USA has imported the highest during the second quarter of the year 2021 with an import value of $36.35 billion. The lowest imports are recorded in the first quarter of the year 2020. Get access to a free sample of import-export data of the USA to take a glimpse into our data.


 

Period

Value USD Billion

Q1-2020

23.39

Q2-2020

24.54

Q3-2020

28.59

Q4-2020

35.24

Q1-2021

32.77

Q2-2021

36.35

Q3-2021

36.28

 


Japan imported the highest from the USA during the second quarter of the year 2021 with an import value of $20.97 billion. The lowest import value is recorded in the first quarter of the year 2020. Hover over the free sample for Japan import-export data to get familiar with our services.


 

Period

Value USD Billion

Q1-2020

13.19

Q2-2020

18.06

Q3-2020

16.52

Q4-2020

17.47

Q1-2021

19.25

Q2-2021

20.97

Q3-2021

20.86

 


Both the USA and Japan have imported the highest in the second quarter of the year 2021, while the lowest imports belong to the first quarter of the year 2021. For businesses out there looking for opportunities in both the regions as per the business, can consider this period.

 

The aforementioned point of interdependence between the USA and Japan are represented in this section from traded commodities point of view. Table 3 highlights the top exported products to the USA from Japan for the year 2021. Each segment is divided into the quarters of 2021, and further into the top commodities exported belonging to the particular quarter of the year with their respective value. Table 4 highlights the top exported commodities to Japan from the USA for the same taken period and the approach in the USA imports from Japan 2021 in Table 3.

 

It is pretty clear that Japan has exported these commodities the highest so far in 2021 — Vehicles and their parts; Industrial Machinery; and Electronics and their parts. These commodities are featured in the three different quarters of 2021 and have slightly different values. Among these three commodities and the three quarters of the taken year in below Japan export data, vehicles, and their parts accounted for the most exports during the second quarter of the year 2021.


 

Quarter

Commodity

Value USD Billion

First

Vehicles and Parts

10.82

Industrial Machinery

7.04

Electronics and Parts

3.83

Second

Vehicles and Parts

10.90

Industrial Machinery

8.12

Electronics and Parts

4.14

Third

Vehicles and Parts

10.32

Industrial Machinery

8.16

Electronics and Parts

4.07

 


USA export data below shows that these three commodities accounted for the highest exports in the year 2021 so far — Mineral Fuels & Oils; Optical, Medical, etc. Instruments; and Industrial Machinery. Among all the top US exported commodities to Japan, and among all the three quarters of 2021 - Mineral fuels & oils accounted for the highest exports in Q2-2021.


 

Quarter

Commodity

Value USD Billion

First

Mineral Fuels & Oils

2.63

Optical, Medical, etc. Instruments

1.78

Industrial Machinery

1.46

Second

Mineral Fuels & Oils

2.67

Optical, Medical, etc. Instruments

1.67

Industrial Machinery

1.61

Third

Mineral Fuels & Oils

2.63

Optical, Medical, etc. Instruments

1.70

Industrial Machinery

1.64

 

In conclusion, both the USA and Japan traded the highest in the second quarter of this year so far, with industrial machinery being the common ‘top commodity’ in both. However, being specific, the USA exported mineral fuels & oils the highest to Japan, while Japan exported the vehicles and their parts to the USA. Conduct a live search for your specific trade data queries.

 

With the deepening of the cooperative relationship between the USA and Japan, the market opportunities will also increase for businesses from different countries and industries. Access our import-export trade intelligence platform online to fully understand the trade insights. Check out the plan and pricing to opt accordingly to your budget, or schedule a free demo to simply try.

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