5th in trade volume, one of the world’s largest markets
Japan ranks fifth in the world in terms of trade volume.
Surrounded by the sea, Japan has achieved economic growth through imports and exports.
Japan’s stable domestic market and the various infrastructures that support it will surely accelerate your business.
Trade volume ranking (2022) (Unit: billion US dollars)
Source: Prepared by JETRO based on the JETRO Global Trade and Investment Report 2023 Edition (JETRO)
The reputation of the Japanese market gives you peace of mind
The appeal of the Japanese market among foreign companies lies not only in its social and political stability, but also in its large market size.
Approximately 50% of foreign companies cite Japan’s market size as an attractive factor.
Your business will flourish in a large and stable market.
Source: “2023 Survey on the Business Status of Foreign Companies” (JETRO)
Why not make Japan your base for the Asia-Pacific region and the world?
Free trade agreements (FTAs) and other such agreements have the advantage of making it easier for Japan to enter a wide range of global markets as tariffs are eliminated or reduced.
Entering the Japanese market will be a stepping stone to further expanding your business globally.
Comparison of FTA coverage rates (total trade amount, 2022)
(A = issued, B = under negotiation, C = other) (Unit: trillion US dollars)
* Status of issued, signed and negotiated is as of the end of March 2024. Taken from JETRO’s “World FTA Database.
” * Figures “including under negotiation” include figures for negotiations that have already been concluded.
* When both a multilateral FTA and a bilateral FTA are in progress with the same country, the trade amount is counted in the order of progress (in force → signed → under negotiation → other).
* Totals do not necessarily add up to 100% due to rounding to the first decimal place.
Source: Prepared by JETRO based on the “2024 Edition White Paper on International Trade” (Ministry of Economy, Trade and Industry)
Still the fourth largest global market in terms of GDP
As many people know, Japan has been a leader in the world economy.
And it remains the world’s fourth largest economy today.
Success in Japan will be proof of our high competitiveness and will give us an advantage when expanding into other countries.
GDP Ranking (2023) (Trillion US Dollars)
Source: JETRO based on the World Development Indicators Database (©World Bank) Creative Commons License (Attribution 4.0 International)
lastly
Why not start by conducting some market research to see how likely it is that your products or services will be accepted in the Japanese market?
Dreaman Co., Ltd. provides a wide range of support and services, from market research to sales representation, partner introductions, and more. Please feel free to ask any questions or consult with us.
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