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The United States also attempted to emulate the business model to promote exports in the early 1980s by enacting the Export Trading Company Act of 1982. At the time the law was debated, Mitsui & Co. was the sixth-largest exporter from the United States, and sogo shosha accounted for about half of Japan's inbound and outbound trade. [3]
The following is a list of the exports of Japan. Data is for 2016–2020, in millions of United States dollars, as reported [1] by The Observatory of Economic Complexity. Currently the exports contributing at least 0.67% to total export in any year are listed.
The following is a list of 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 for calendar year 2021 are as follows: [ 1 ]
As imports from the Middle East surged in the 1970s, so did Japan's exports to the region. Paralleling the pattern for imports, however, this share fell in the 1980s. Amounting to 1.8 percent in 1960, exports to this region rose to 11.1 percent of total Japanese exports in 1980 but then declined to 3.6 percent by 1988. [1]
There is significant awareness of Japanese popular culture in the United States.The flow of Japanese animation, fashion, films, manga comics, martial arts, television shows and video games to the United States has increased American awareness of Japanese pop culture, which has had a significant influence on American pop culture, including sequential media and entertainment into the 21st century.
Automobiles were a major area of contention for the Japan-United States relationship during the 1980s. When the price of oil rose in the 1979 energy crisis, demand for small automobiles increased, which worked to the advantage of Japan's exports to the United States market. As the Japanese share of the market increased, to 21.8 percent in 1981 ...
Japan's total foreign trade was equivalent to Belgium, a country with less than 10% of Japan's population. In 1897, the local monetary unit, the yen , was valued on the gold standard at a base level of 24.5 British Pence , which permits the use in the figures of the pound sterling or gold-backed US dollars.
The Plaza Accord in 1985, an agreement among major economies to devalue the American dollar relative to several major currencies, led to a rapid appreciation of the yen. [47] [48] [49] In 1995, Japan’s share of the world’s nominal GDP was 17.8%, reaching approximately 71% of that of the United States. [26]