Hi world prepared by ibrokhimov akhmadillo intermediate control work content

HI WORLD
PREPARED BY IBROKHIMOV AKHMADILLO
INTERMEDIATE CONTROL WORK
CONTENT
What is Foreign Trade?
Who are Japan’s main trading partners?
Imports and Exports
Foreign Trade
Foreign trade is the exchange of goods and services between two countries in the international market. It helps in the availability of raw material/finished product in a country that either does not have it or has it in scarcity.
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International trade is growing important for the Japanese economy. Even though the country is not considered a trade-dependent nation, the trade openness ratio remained steadily above 30 percent in recent years. As domestic markets are maturing, Japanese companies are raising outward investments into foreign markets in strategic expansions or merger and acquisition plans. The Japanese government is actively promoting foreign transactions, with the growing number of bilateral and multilateral agreements signifying the gradual liberalization of restrictive trade barriers in the country.

• International trade is growing important for the Japanese economy. Even though the country is not considered a trade-dependent nation, the trade openness ratio remained steadily above 30 percent in recent years. As domestic markets are maturing, Japanese companies are raising outward investments into foreign markets in strategic expansions or merger and acquisition plans. The Japanese government is actively promoting foreign transactions, with the growing number of bilateral and multilateral agreements signifying the gradual liberalization of restrictive trade barriers in the country.

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Foreign trade is an essential element of the Japanese economy, but the country is not fully open and imposes extensive non-tariff barriers, especially in the agricultural sector. Japan is the world's 4th largest exporter and fifth-largest importer of goods, and foreign trade accounts for 31% of the country's GDP (World Bank). Japan mainly exports motor vehicles (12.6%) being the second exporter of cars worldwide, electronic integrated circuits and micro assemblies (4.5%), auto parts and accessories (4.2%), and ships and boats (1.7%). The country's main imports include petroleum oils (6.8%), petroleum gas and other gaseous hydrocarbons (5.4%), transmission apparatus for radio-telephony (3.9%), automatic data processing machines (3.1%), and electronic integrated circuits and micro assemblies (3%).
Foreign trade of
Japan
Japan’s foreign trade
The country traditionally has a large trade surplus; however, in recent years the balance turned null. That was mainly due to plummeting shipments to China and regional markets, as the global pandemic-induced crisis took its toll on the trade-reliant economy. According to WTO, Japan's exports of goods reached USD 641.3 billion (-9% year-on-year) in 2020, while imports amounted to USD 635.4 billion (-11.8% y-o-y). Concerning the service sector, exports decreased 22.9% to USD 156.3 billion, whereas imports lost 10.5% (USD 201.7 billion). According to figures from the Ministry of Finance, in the first six months of 2021 Japanese exports reached USD 346.2 billion, with imports totalling USD 337.7 billion.
Japan’s main trading partners
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• Japan’s main partners are China (22%), the United States (18.5%), South Korea (7%), Hong Kong (5%), and Thailand (4%). The country mainly imports from China (25.8%), the U.S. (11.3%), Australia (5.6%), South Korea (4.2%) and Thailand (3.7%). Japan is the EU’s second-biggest trading partner in Asia after China, and together they both account for about a quarter of the world's GDP. The two parties signed an Economic Partnership Agreement, which entered into force in 2019. Moreover, Japan signed the Regional Comprehensive Economic Partnership (RCEP), arguably the largest free trade agreement in history (its signatories include China, Australia, South Korea, etc., cumulating about 30% of global GDP). The RCEP agreement entered into force on 1 January 2022.

The 15 Largest Trading Partners of Japan
These figures do not include services or foreign direct investment, but only trade in goods. The fifteen largest Japanese trading partners with their total trade (sum of imports and exports) in billions of US Dollars.
IMPORTS AND EXPORTS
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