Japan’s expenditures on the top 10 imported Filipino products accelerated by 22.2% since 2016 and gained 12.2% from 2017 to 2018.
According to the Central Intelligence Agency’s World Factbook, Japan has a population of 126.2 million people. WorldsRichestCountries.com ranks Japan as the world’s fourth richest country based on purchasing power parity, a methodology that considers living costs and inflation. In contrast, the Philippines is much further down the rich countries’ list in 28th place for 2018.
Overall, Japan bought a total $10.4 billion worth of imported goods from the Philippines during 2018.
Japan’s Top 10 Imports from the Philippines
Below are the top 10 import products shipped from the Philippines to Japan during 2018. Shown within parenthesis is the percentage change in sales over the three-year period starting in 2018.
- Insulated wire/cable: $1.1 billion (up 23.9% from 2014)
- Wood carpentry, builders’ joinery: $884.1 million (up 10.6%)
- Bananas, plantains: $772.8 million (up 3.8%)
- Nickel matte, oxide sinters: $680.3 million (up 71.3%)
- Integrated circuits/microassemblies: $425.6 million (up 49.8%)
- Solar power diodes/semi-conductors: $400.5 million (down -20.2%)
- Copper ores, concentrates: $339.2 million (up 3.1%)
- Computers, optical readers: $308.7 million (up 46.2%)
- Radar, radio communication items: $280.1 million (up 621.2%)
- Magnets including electro-magnets: $216 million (up 41.6%)
- Automobile parts/accessories: $213.6 million (up 11.8%)
- Electrical converters/power units: $197.8 million (down -11.9%)
Most of the other above-listed items support Japan’s massive consumer electronics and computer industries, including insulated wire or cable. Other products like wood carpentry and builders’ joinery are important ingredients for Japanese construction projects.
Japan’s imported bananas and plantains represent the Filipino food product most in demand by Japanese consumers. From a global perspective, the Philippines placed second among the world’s biggest suppliers of fresh or dried plantains behind leader Ecuador.
Among Japan’s top 10 imports from the Philippines, radar and radio communication items increased in value the most via its 621.2% appreciation since 2016.
Also expanding in Japanese purchases were imports of nickel matte or oxide sinters (up 71.3%), integrated circuits or microassemblies (up 49.8%) then computers (up 46.2%).
Other double-digit increases over the three-year period belong to magnets including electro-magnets (up 41.6%), insulated wire or cable (up 23.9%), automobile parts or accessories (up 11.8%) then wood carpentry and builders’ joinery (up 10.6%).
Decliners among top Japanese imports from the Philippines were solar power diodes plus semi-conductors (down -20.2%) and electrical converters or power units (down -11.9%).