Japan’s top 10 imports from the Philippines in 2017 represent US$5.2 billion in sales, more than half (53.4%) of total Japanese purchases of Filipino goods for the year.
Revenue for those same 10 imported Filipino product rose by 4.5% since 2015 and gained 7.2% from 2016 to 2017.
According to the Central Intelligence Agency’s World Factbook, Japan has a population of 126.2 million people and is the world’s fourth richest country based on purchasing power parity, a methodology that considers living costs and inflation.
Overall, Japan bought a total $9.8 billion worth of imported goods from the Philippines during 2017.
Japan’s Top 10 Imports from the Philippines
Below are the top 10 import products shipped from the Philippines to Japan during 2017. Shown within parenthesis is the percentage change in sales over the three-year period starting in 2015.
- Insulated wire/cable: US$1 billion (up 16.9% from 2015)
- Wood carpentry, builders’ joinery: $787.6 million (up 26.3%)
- Bananas, plantains: $686.7 million (down -5.1%)
- Nickel matte, oxide sinters: $553.1 million (down -1.7%)
- Copper: $416.9 million (up 61.5%)
- Solar power diodes/semi-conductors: $388.7 million (down -34.5%)
- Copper ores, concentrates: $289.5 million (down -13.2%)
- Computers, optical readers: $269.5 million (up 2%)
- Electrical converters/power units: $220.4 million (down -9.5%)
- Automobile parts/accessories: $208.1 million (up 23.7%)
- Magnets including electro-magnets: $198 million (up 32.4%)
- Computer parts, accessories: $188.6 million (down -10.3%)
Most of the above items support Japan’s massive consumer electronics and computer industries. Other products like wood carpentry and builders’ joinery are important ingredients for Japanese construction.
Japan’s imported bananas and plantains represent the Filipino food product most in demand by Japanese consumers. Philippines placed second among the world’s biggest suppliers of fresh or dried plantains behind leading Ecuador.
Among Japan’s Top 10 Imports from the Philippines, copper ores and concentrates increased in value the most via its 61.5% appreciation since 2015.
Also expanding were imports of processed copper (up 29.4%), computer parts and accessories (up 20.9%) and insulated wire or cable (up 6.3%).
Other robust increases belong to magnets including electro-magnets (up 32.4%), wood carpentry and builders’ joinery (up 26.3%) then automobile parts or accessories (up 23.7%).
Declining by double-digits over the three-year period were Japanese imports from the Philippines of solar power diodes plus semi-conductors (down -34.5%), copper ores and concentrates (down -13.2%) and computer parts or accessories (down -10.3%).