China is now the number one destination for Japanese exports

According to the Japanese government, exports of food, agricultural, forestry and marine products to mainland China grew by +35.2% during the year. China is ahead of Hong Kong and the United States. 

 

In 2021, Japan reached its target of 1 trillion yen (USD 8.67 billion) in annual food exports, an increase of +25.6% over the previous year. This increase is largely due to Chinese consumer demand for high-end Japanese products, ranging from whisky and sake to meat, fish, fruit and vegetables. China is ahead of Hong Kong and the United States :  

 

.China: exports of food, agricultural, forestry and marine products to mainland China rose by +35.2% during the year to a value of ¥222.4 billion (US$1.93 billion)

 

.Hong Kong: sales increased by +6%, reaching a value of 219 billion yen (1.9 billion USD). 

 

.United States: a +41.2% increase in sales to reach 168 billion yen (1.46 billion USD).

 

Taiwan, Vietnam, South Korea, Thailand, Singapore, Australia, the Philippines and the European Union follow in the ranking of Japanese export destinations.

 

According to a professor at the Tokyo University of Information Sciences, the situation is paradoxical for Japanese agriculture. The country is an importer of many agricultural products from the US, Canada and Australia. For its exports, one of the main selling points of Japanese products in foreign markets is price, which is seen by these foreign consumers as an indicator of quality as well as a symbol of wealth

 

 

 

source : scmp.com