The following 10 leading products generated a surplus subtotal of $185 billion for Japan in its global trade during 2017. Metrics listed below highlight Japan’s strongest competitive advantages over worldwide trading partners.

1. Cars: US$82.3 billion (Down -2.0% since 2010)
2. Automobile parts/accessories: $26.3 billion (Down -11%)
3. Machinery for making semi-conductors: $18.1 billion (Up 7.4%)
4. Cruise/cargo ships, barges: $11.2 billion (Down -55.6%)
5. Heavy machinery (e.g. bulldozers, excavators): $9.1 billion (Down -0.04%)
6. Trucks: $8.6 billion (Down -15.2%)
7. Gold (unwrought): $8.3 billion (Up 57.4%)
8. Miscellaneous machinery: $7.7 billion (Up 1.1%)
9. Integrated circuits/microassemblies: $7.2 billion (Down -48.8%)
10. Hot-rolled iron or non-alloy steel products: $6.2 billion (Down -18.8%)

Japan was able to grow its trade surplus with three of the above products over the latest 7-year period: up 57.4% for unwrought gold, up 7.4% for machinery for making semi-conductors and up 1.1% for miscellaneous machinery.

The 10 major products below accumulated a deficit subtotal of -$201.4 billion for Japan in international trade during 2017. Japan has demonstrated the severest competitive disadvantages in the exports and imports of the following commodities.

1. Crude oil: -US$63.7 billion (Down -39.8% since 2010)
2. Petroleum gases: -$40.1 billion (Down -17.2%)
3. Coal, solid fuels made from coal: -$23.1 billion (Down -4.2%)
4. Phone system devices including smartphones: -$21.1 billion (Up 151.8%)
5. Computers, optical readers: -$13 billion (Up 9.6%)
6. Medication mixes in dosage: -$11.7 billion (Up 30.4%)
7. Iron ores, concentrates: -$9.7 billion (Down -37.7%)
8. Copper ores, concentrates: -$8 billion (Down -34%)
9. Aluminum (unwrought): -$5.6 billion (Down -8.3%)
10. Blood fractions (including antisera): -$5.5 billion (Up 68.9%)

Three top products accelerated Japan’s red ink in 2017 since 2010 at the fastest pace: phone system devices including smartphones (up 151.8%), blood fractions including antisera (up 68.9%) and medication mixes in dosage (up 30.4%).

Leading product trade deficit shrinkage since 2010 were crude oil (down -39.8%) preceded by iron ores and concentrates (down -37.7%).

In 2017, Japan generated a surplus subtotal worth $185 billion with the following 10 trading partners.

1. United States: US$61.2 billion (Up 19.5% since 2010)
2. Hong Kong: $33.6 billion (Down -17.6%)
3. South Korea: $25.2 billion (Down -25.4%)
4. Taiwan: $15.3 billion (Down -48%)
5. Singapore: $14.1 billion (Down -17.2%)
6. Netherlands: $10 billion (Down -18.8%)
7. United Kingdom: $6.7 billion (Down -13.3%)
8. Thailand: $6.7 billion (Down -49.1%)
9. Mexico: $5.5 billion (Down -9.8%)
10. Panama: $4.6 billion (Down -69.3%)

Japan increased its surplus with only one of the above-listed countries, thanks to a 19.5% surplus expansion with its top trade partner the United States.

Panama led the decliners with a -69.3% reduction in its country-specific surplus with Japan over the 7-year period.

Japan lost money in its international trade with 78 countries or territories. Topping the list, the following 10 trade partners created a -$132.6 billion deficit subtotal in 2017 from exchanging exports and imports with Japan.

1. China: -US$31.5 billion (Up 740.8% since 2010)
2. Saudi Arabia: -$24 billion (Down -18.6%)
3. Australia: -$23 billion (Down -21.4%)
4. United Arab Emirates: -$13.5 billion (Down -38.6%)
5. Qatar: -$9.8 billion (Down -52.5%)
6. Russia: -$7.8 billion (Down -3.2%)
7. Malaysia: -$6.5 billion (Up 28.4%)
8. Indonesia: -$6.4 billion (Down -48%)
9. Italy: -$5.4 billion (Up 351.2%)
10. Chile: -$4.6 billion (Down -8.4%)

Japan’s country-specific deficits increased with three top trade partners namely China, Italy and Malaysia.