China and Japan are important trading partners. According to the China import export data, China imported around $184 billion worth of goods from Japan during FY 2022 while it was $153 billion in FY 2021. Japan's exports to China are increasing at an annual rate of 7.5%. China's major imports include heavy machineries, integrated circuits, cars, seafood, etc.
Sea food is the most crucial import of China from Japan. China accounts for over 40% of Japan's total aquatic imports. China import data reflects that China has imported over $2 billion worth of seafood from Japan during 2022. The most popular items that China frequently imports from Japan are scallops, bonito and tuna.
In the fiscal year 2023, China’s fishery products imports crossed over $7 billion. China's fish imports mostly come from the Philippines, Hong Kong, Burma, Taiwan and Indonesia. During June 2023, Japan accounted for the second most favoured destination for China's fish exports followed by Hong Kong with over 20% share in China’s overall exports.
Although China has recently restricted Japan's fishery exports due to Japan's move of treating radioactive water from the Fukushima nuclear power plant. This has irked China due to which it imposed a ban on Japan’s sea food exports. This has impacted Japan’s seafood exports to China by a large margin.
China accounts for over 60% of Japan’s total seafood exports. This year, Japan’s total seafood exports to China reached over $596 million. China customs data reports show a drop of 65% in Japan’s seafood exports during August 2023. Japan has exported over $150 million yuan worth of seafood in August 2023. Japan's scallops have a great demand in the Chinese market. China's scallops exports have reached over 49 billion yen. Whereas, Sea cucumbers were the second most imported seafood by China from Japan with over 9.8 billion yen exports this year.
Apart from seafood exports, Japan's mineral fuel steel and electrical equipment exports shipments to China saw a significant decline. In August 2023, there was a decline of 64% in mineral fuel imports of China from Japan. Whereas, the drop of 27% and 25% is noticed in the imports of steel & electrical equipment from Japan.
On the other hand, China exported around $171 billion worth of products to Japan during FY 2022. There was a significant increase in exports to Japan. As, it was $168 billion in 2021. China export data reflects that China's exports to Japan are increasing at the rate of 6% annually. The top exports include broadcasting equipment, computers, office machinery, motor vehicles, etc.
As the bilateral trade between Japan and China is continuously booming, the businesses from both nations can excel their sales using comprehensive market intelligence data. Exim Trade Data, a leading global import export data provider is offering valuable market reports of over 200+ countries.
Through their Exim Global Trade Intelligence System, you can identify product demand from the China-Japan market by price, quantity, unit, country, importer and exporter information. Through their exclusive database, you can identify genuine business leads, their product pricing and based on these insights, you can plan a winning marketing strategy.
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