Iwate | The Observatory of Economic Complexity

Iwate

Prefecture in Tōhoku Region of Japan

2023
Economic
Complexity -0.014Rank 33 of 41

Jan 2024
Trade
Exports | Imports ¥ 1.46B | ¥ 1.81B38 of 41 | 40 of 41

Jan 2024
Country
Destination | Origin China | Malaysia ¥ 469M | ¥ 483M

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Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Iwate. In January 2024 Iwate was the number 39 in total exports and the number 40 in total imports in Japan.

Exports In 2023, Japan's Iwate exported ¥ 32.1B, making it the 39th largest exporter out of the 41 exporters in Japan. In 2023 the top exports of Iwate were Filtering/purifying machinery for liquids nes (¥ 9.99B), Iron/Steel Rods: Hot-Rolled, Thin Diameter, Coiled (¥ 5.7B), Parts of semiconductor devices and similar... (¥ 2.62B), Bar/rod, alloy steel nes, irregularly wound... (¥ 2.18B), and Paper and paperboard: coated, impregnated or... (¥ 1.47B).

Imports In 2023, Japan's Iwate imported ¥ 39.5B, making it the 40th largest importer out of the 41 importers in Japan. In 2023 top imports of Iwate were Maize except seed corn (¥ 5.15B), Palm nut or kernel oil cake... (¥ 4.98B), Bituminous coal, not agglomerated (¥ 3.77B), Vegetable products nes (¥ 3.2B), and Potassium chloride, in packs >10 kg (¥ 2.26B).

Economic Complexity In 2023, the highest complexity exports of Iwate according to the product complexity index (PCI) are Self-adhesive Plastics (1.17), Other Stone Articles (1.1), Centrifuges (0.93), Semiconductor Devices (0.89), Medical Instruments (0.86), Molybdenum (0.76), Other Rubber Products (0.73), Cellulose Fibers Paper (0.44), Steel Bars (0.39), and Stranded Iron Wire (0.26). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Latest Trends

January, 2024

About

Overview In January 2024 Iwate exported ¥1.46B and imported ¥1.81B, resulting in a negative trade balance of ¥354M. Between January 2023 and January 2024 the exports of Iwate have decreased by $-727M (-33.3%) from ¥2.18B to ¥1.46B, while imports decreased by ¥-785M (-30.3%) from ¥2.59B to ¥1.81B.

Trade In January 2024, the top exports of Iwate were Centrifuges (¥675M), Semiconductor Devices (¥247M), Sulfate Chemical Woodpulp (¥124M), Hot-Rolled Iron Bars (¥106M), and Steel Bars (¥55.7M). In January 2024 the top imports of Iwate were Other Vegetable Products (¥729M), Corn (¥426M), Motor vehicles; parts and accessories (8701... (¥100M), Rubber Tires (¥89M), and Wood Carpentry (¥68.3M).

Destinations In January 2024, Iwate exported mostly to China (¥469M), United States (¥327M), Germany (¥119M), Indonesia (¥87.3M), and South Korea (¥75.8M), and imported mostly from Malaysia (¥483M), United States (¥441M), Indonesia (¥271M), China (¥202M), and Vietnam (¥180M).

Growth In January 2024, the decrease in Iwate's year-by-year exports was explained primarily by an decrease in exports to Singapore (¥-133M or -81.5%), Germany (¥-66.6M or -49.3%), and Taiwan (¥-33M or -70.9%), and product exports decrease in Cellulose Fibers Paper (¥-68M or -19.6%), Semiconductor Devices (¥-49.8M or -19.8%), and Apples and Pears (¥-33.8M or -72.5%). In January 2024, the decrease in Iwate's year-by-year imports was explained primarily by an decrease in imports from China (¥-655M or -68.4%), South Korea (¥-31.5M or -46%), and Australia (¥-19M or -34.1%), and product imports decrease in Iron Structures (¥-761M or -98.8%), Commodities not elsewhere specified (¥-81.1M or -95.3%), and Other Vegetable Residues (¥-56M or -7.72%).

Latest Data

Time Scale

Year

Quarter

Month

Flow

Exports

Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

Product

EXPORT GROWTH (January 2023 - January 2024)¥-727M(-33.3%)

IMPORT GROWTH (January 2023 - January 2024)¥-785M(-30.3%)

This section shows exports and imports data at subnational level for Iwate. Click any date in the line plot, any subnational region in the geomap, or any product, destination or origin country to explore the exports or imports behavior of Iwate over time.

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Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)China¥ 9.82B

Top Product (2023)Filtering/purifying machinery for liquids nes¥ 9.99B

In 2023 the top export destinations of Iwate were China (¥ 9.82B), United States (¥ 6.86B), Thailand (¥ 2.1B), Germany (¥ 1.06B), and Belgium (¥ 1.02B).

In 2023 the top exports of Iwate were Filtering/purifying machinery for liquids nes (¥ 9.99B), Iron/Steel Rods: Hot-Rolled, Thin Diameter, Coiled (¥ 5.7B), Parts of semiconductor devices and similar... (¥ 2.62B), Bar/rod, alloy steel nes, irregularly wound... (¥ 2.18B), and Paper and paperboard: coated, impregnated or... (¥ 1.47B).

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Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Germany ¥ 50.4M (73.4%)

Indonesia ¥ 42.3M (93.9%)

Vietnam ¥ 30.7M (2.43k%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

United States ¥ -307M (-48.4%)

China ¥ -172M (-26.8%)

Thailand ¥ -123M (-78.9%)

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Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Indonesia¥ 11.3B

Top Import (2023)Maize except seed corn¥ 5.15B

In 2023 the top import origins of Iwate were Indonesia (¥ 11.3B), Brazil (¥ 2.81B), United States (¥ 2.67B), Canada (¥ 2.27B), and Vietnam (¥ 2B).

In 2023 the top imports of Iwate were Maize except seed corn (¥ 5.15B), Palm nut or kernel oil cake... (¥ 4.98B), Bituminous coal, not agglomerated (¥ 3.77B), Vegetable products nes (¥ 3.2B), and Potassium chloride, in packs >10 kg (¥ 2.26B).

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Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

United States ¥ 418M (1.84k%)

Malaysia ¥ 274M (131%)

Vietnam ¥ 68.4M (61.5%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

Indonesia ¥ -1.08B (-79.9%)

China ¥ -100M (-33.1%)

Thailand ¥ -43.1M (-69%)

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Economic Complexity

Economic Complexity of Iwate

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Geomap

Treemap

Economic Complexity (2023)-0.014

Iwate ranks 33rd out of the 41 prefectures in Japan according to ECI.

The Economic Complexity Index, or ECI, is a measure of an economy’s capacity which can be inferred from data connecting locations to the activities that are present in them. For more info about Economic Complexity, visit the Economic Complexity page.

Estimated using exports data.

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Economic Complexity Ranking

Value

Ranking

Value

The economic complexity of a territory can change year to year. Iwate it is in position 33rd considering its ECI in the last year.

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Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Iwate already has a comparative advantage, are led by Sauces and Seasonings (0.028), Baked Goods (0.028), Fruit Juice (0.027), Recreational Boats (0.027), and Raw Plastic Sheeting (0.027).

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Most Complex Products by PCI

The highest complexity exports of Iwate according to the product complexity index (PCI) are Self-adhesive Plastics (1.17), Other Stone Articles (1.1), Centrifuges (0.93), Semiconductor Devices (0.89), Medical Instruments (0.86), Molybdenum (0.76), Other Rubber Products (0.73), Cellulose Fibers Paper (0.44), Steel Bars (0.39), and Stranded Iron Wire (0.26). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

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Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Steel Bars (351.67), Hot-Rolled Iron Bars (271.52), Centrifuges (93.73), Stranded Iron Wire (66.52), and Cellulose Fibers Paper (53.42).

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Product Space

RCA Filter

The product space is a network connecting products that are likely to be co-exported. The product space can be used to predict future exports, since Iwate is more likely to start exporting products that are related to current exports. Relatedness measures the distance between a product, and all of the products it is currently specialized in.

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Relatedness Space

This network shows the products most related to the production structure of Iwate. These are products that tend to be co-exported with the products that Iwate exports. Higher relatedness values indicate greater knowledge, which predicts a greater probability of exporting that product in the future.

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Diversification Frontier

Depth

Section

HS2

HS4

Filter

All

RCA≤1

RCA>1

The Complexity-Relatedness diagram compares the risk and the strategic value of a territory's potential export oppotunities. Relatedness is a predictive of the probability that a country increases its exports in a product. Complexity, is associated with higher levels of income, economic growth, less income inequality, and lower emissions. Bubble size corresponds to exports value by year 2020.