Miyagi | The Observatory of Economic Complexity

Miyagi

Prefecture in Tōhoku Region of Japan

2023
Economic
Complexity 0.12Rank 31 of 41

Jan 2024
Trade
Exports | Imports ¥ 36.4B | ¥ 105B16 of 41 | 18 of 41

Jan 2024
Country
Destination | Origin United States | Saudi Arabia ¥ 6.75B | ¥ 34.3B

Image 1

Image by skyseeker
Link: https://flic.kr/p/As63Ln

Latest Trends
Historical Data
Economic Complexity

About

Overview This page contains the latest international trade data for Miyagi. In January 2024 Miyagi was the number 17 in total exports and the number 18 in total imports in Japan.

Exports In 2023, Japan's Miyagi exported ¥ 336B, making it the 17th largest exporter out of the 41 exporters in Japan. In 2023 the top exports of Miyagi were Pneumatic tyres new of rubber for... (¥ 81.1B), Electric accumulators: lithium-ion, including separators, whether... (¥ 38.5B), Petroleum spirit for motor vehicles (¥ 15.3B), Electric accumulators: nickel-metal hydride, including separators,... (¥ 14.2B), and Toluene (¥ 13.9B).

Imports In 2023, Japan's Miyagi imported ¥ 1.07T, making it the 18th largest importer out of the 41 importers in Japan. In 2023 top imports of Miyagi were Petroleum oils, oils from bituminous minerals,... (¥ 369B), Natural gas, liquefied (¥ 117B), Petroleum spirit for motor vehicles (¥ 61.8B), Propane, liquefied (¥ 45.8B), and Bituminous coal, not agglomerated (¥ 31.1B).

Economic Complexity In 2023, the highest complexity exports of Miyagi according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.04), Blank Audio Media (1.91), Polymer Ion-Exchangers (1.74), Other Stainless Steel Bars (1.51), Tool Plates (1.47), Carboxyamide Compounds (1.42), Signaling Glassware (1.42), Industrial Printers (1.31), Acrylic Polymers (1.3), and Telephones (1.24). 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 Miyagi exported ¥36.4B and imported ¥105B, resulting in a negative trade balance of ¥69B. Between January 2023 and January 2024 the exports of Miyagi have increased by $9.79B (36.8%) from ¥26.6B to ¥36.4B, while imports decreased by ¥-8.91B (-7.79%) from ¥114B to ¥105B.

Trade In January 2024, the top exports of Miyagi were Refined Petroleum (¥11.7B), Rubber Tires (¥5.96B), Electric Batteries (¥3.95B), Cyclic Hydrocarbons (¥2.67B), and Hot-Rolled Iron Bars (¥960M). In January 2024 the top imports of Miyagi were Crude Petroleum (¥41.6B), Petroleum Gas (¥13.3B), Commodities not elsewhere specified (¥7.26B), Refined Petroleum (¥5.3B), and Non-fillet Frozen Fish (¥4.32B).

Destinations In January 2024, Miyagi exported mostly to United States (¥6.75B), Malaysia (¥4.84B), Bangladesh (¥4.81B), South Korea (¥4.04B), and China (¥3.35B), and imported mostly from Saudi Arabia (¥34.3B), China (¥9.12B), United States (¥7.99B), Russia (¥7.94B), and Panama (¥6.41B).

Growth In January 2024, the increase in Miyagi's year-by-year exports was explained primarily by an increase in exports to France (¥2.45B or 2.85k%), United States (¥1.79B or 51.2%), and Czechia (¥1.02B or 180%), and product exports increase in Electric Batteries (¥4.45B or 2.87k%), Rubber Tires (¥1.74B or 41.9%), and Cyclic Hydrocarbons (¥1.57B or 1.06k%). In January 2024, the decrease in Miyagi's year-by-year imports was explained primarily by an decrease in imports from Egypt (¥-5.41B or -100%), Russia (¥-1.44B or -43.5%), and Canada (¥-1.22B or -36.5%), and product imports decrease in Commodities not elsewhere specified (¥-959M or -74.2%), Iron Structures (¥-726M or -83.7%), and Wood Carpentry (¥-495M or -50.8%).

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)¥9.79B(36.8%)

IMPORT GROWTH (January 2023 - January 2024)¥-8.91B(-7.79%)

This section shows exports and imports data at subnational level for Miyagi. 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 Miyagi over time.

For full datasets download visit Bulk Download page.

Go to Bulk Download

Subscribe today to OEC pro and access the latest data

Historical Data

Yearly Exports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Destination (2023)United States¥ 92.5B

Top Product (2023)Pneumatic tyres new of rubber for...¥ 81.1B

In 2023 the top export destinations of Miyagi were United States (¥ 92.5B), South Korea (¥ 45.7B), China (¥ 40.4B), France (¥ 28.6B), and Thailand (¥ 16.3B).

In 2023 the top exports of Miyagi were Pneumatic tyres new of rubber for... (¥ 81.1B), Electric accumulators: lithium-ion, including separators, whether... (¥ 38.5B), Petroleum spirit for motor vehicles (¥ 15.3B), Electric accumulators: nickel-metal hydride, including separators,... (¥ 14.2B), and Toluene (¥ 13.9B).

Explore Visualizations

Subscribe today to OEC pro and access the latest data

Exports Dynamics

Starting Date

Ending Date

Fastest Growing Exports Destination (Jan 2023 - Jan 2024)

Malaysia ¥ 4.56B (1.64k%)

Bangladesh ¥ 2.97B (162%)

Chile ¥ 2.29B (7.01k%)

Rapidly Declining Export Origins (Jan 2023 - Jan 2024)

Singapore ¥ -1.8B (-98.3%)

Czechia ¥ -818M (-51.6%)

Italy ¥ -404M (-73.6%)

Subscribe today to OEC pro and access the latest data

Yearly Imports

Color

Trade Value

Growth

Growth (%)

Depth

HS2

HS4

HS6

Year

Top Origin (2023)Saudi Arabia¥ 221B

Top Import (2023)Petroleum oils, oils from bituminous minerals,...¥ 369B

In 2023 the top import origins of Miyagi were Saudi Arabia (¥ 221B), United States (¥ 143B), China (¥ 116B), Kuwait (¥ 84.2B), and Australia (¥ 68.8B).

In 2023 the top imports of Miyagi were Petroleum oils, oils from bituminous minerals,... (¥ 369B), Natural gas, liquefied (¥ 117B), Petroleum spirit for motor vehicles (¥ 61.8B), Propane, liquefied (¥ 45.8B), and Bituminous coal, not agglomerated (¥ 31.1B).

Explore Visualizations

Subscribe today to OEC pro and access the latest data

Imports Dynamics

Starting Date

Ending Date

Fastest Growing Import Origins (Jan 2023 - Jan 2024)

Russia ¥ 6.07B (324%)

United Arab Emirates ¥ 3.42B (165%)

Canada ¥ 2.35B (110%)

Rapidly Declining Import Origins (Jan 2023 - Jan 2024)

Australia ¥ -18.5B (-90.5%)

South Korea ¥ -4.81B (-47%)

Saudi Arabia ¥ -3.05B (-8.17%)

Subscribe today to OEC pro and access the latest data

Economic Complexity

Economic Complexity of Miyagi

View

Geomap

Treemap

Economic Complexity (2023)0.12

Miyagi ranks 31st 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.

Discover Economic Complexity

Subscribe today to OEC pro and access the latest data

Economic Complexity Ranking

Value

Ranking

Value

The economic complexity of a territory can change year to year. Miyagi it is in position 31st considering its ECI in the last year.

Discover Economic Complexity

Subscribe today to OEC pro and access the latest data

Export Opportunities by Relatedness

The top export opportunities according to the relatedness level, without considering those products were Miyagi already has a comparative advantage, are led by Oxometallic or Peroxometallic Acid Salts (0.097), Oscilloscopes (0.09), Crustaceans (0.089), Sawn Wood (0.088), and Fish Fillets (0.087).

Subscribe today to OEC pro and access the latest data

Most Complex Products by PCI

The highest complexity exports of Miyagi according to the product complexity index (PCI) are Disc Chemicals for Electronics (2.04), Blank Audio Media (1.91), Polymer Ion-Exchangers (1.74), Other Stainless Steel Bars (1.51), Tool Plates (1.47), Carboxyamide Compounds (1.42), Signaling Glassware (1.42), Industrial Printers (1.31), Acrylic Polymers (1.3), and Telephones (1.24). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Subscribe today to OEC pro and access the latest data

Most Specialized Products by RCA Index

The most specialized products according to the RCA index are led by Steel Bars (81.44), Rubber Tires (56.20), Ink Ribbons (46.06), Tool Plates (34.17), and Hot-Rolled Iron Bars (34.03).

Subscribe today to OEC pro and access the latest data

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 Miyagi 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.

Subscribe today to OEC pro and access the latest data

Relatedness Space

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

Subscribe today to OEC pro and access the latest data

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.