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Overview This page contains the latest international trade data for Okayama. In December 2023 Okayama was the number 12 in total exports and the number 8 in total imports in Japan.

Exports In 2023, Japan's Okayama exported ¥ 1.34T, making it the 12th largest exporter out of the 41 exporters in Japan. In 2023 the top exports of Okayama were Light petroleum distillates nes (¥ 168B), Copper cathodes and sections of cathodes... (¥ 140B), Medium Sized Cars (¥ 90.7B), P-xylene (¥ 72.5B), and Semi-finished bars, iron or non-alloy steel... (¥ 62.8B).

Imports In 2023, Japan's Okayama imported ¥ 3.16T, making it the 8th largest importer out of the 41 importers in Japan. In 2023 top imports of Okayama were Petroleum oils, oils from bituminous minerals,... (¥ 756B), Copper ores and concentrates (¥ 601B), Bituminous coal, not agglomerated (¥ 222B), Iron ore, concentrate, not iron pyrites,unagglomerate (¥ 175B), and Petroleum spirit for motor vehicles (¥ 110B).

Economic Complexity In 2023, the highest complexity exports of Okayama according to the product complexity index (PCI) are Lubricating Products (1.68), Flat Flat-Rolled Steel (1.44), Ketones and Quinones (1.43), Halides (1.43), Organo-Sulfur Compounds (1.41), Flat-Rolled Iron (1.28), Combustion Engines (1.27), Petroleum Resins (1.24), Chemically Pure Sugars (1.15), and Aldehydes (1.14). PCI measures the knowledge intensity of a product by considering the knowledge intensity of its exporters.

Historical Data

Yearly Exports

Color
Depth
Top Destination (2023)China¥ 301B
Top Product (2023)Light petroleum distillates nes¥ 168B

In 2023 the top export destinations of Okayama were China (¥ 301B), South Korea (¥ 231B), United States (¥ 90.6B), Taiwan (¥ 74.9B), and Thailand (¥ 68.9B).

In 2023 the top exports of Okayama were Light petroleum distillates nes (¥ 168B), Copper cathodes and sections of cathodes... (¥ 140B), Medium Sized Cars (¥ 90.7B), P-xylene (¥ 72.5B), and Semi-finished bars, iron or non-alloy steel... (¥ 62.8B).

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Exports Dynamics

Fastest Growing Exports Destination (Dec 2022 - Dec 2023)
United States ¥ 4.37B (74%)
Turkey ¥ 2.18B (12.2k%)
Rapidly Declining Export Origins (Dec 2022 - Dec 2023)
South Korea ¥ -6.16B (-32.4%)
Chile ¥ -5.29B (-100%)
Belgium ¥ -4.83B (-95.3%)

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Yearly Imports

Color
Depth
Top Origin (2023)Australia¥ 437B

In 2023 the top import origins of Okayama were Australia (¥ 437B), Saudi Arabia (¥ 415B), Indonesia (¥ 231B), United States (¥ 228B), and Kuwait (¥ 204B).

In 2023 the top imports of Okayama were Petroleum oils, oils from bituminous minerals,... (¥ 756B), Copper ores and concentrates (¥ 601B), Bituminous coal, not agglomerated (¥ 222B), Iron ore, concentrate, not iron pyrites,unagglomerate (¥ 175B), and Petroleum spirit for motor vehicles (¥ 110B).

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Imports Dynamics

Fastest Growing Import Origins (Dec 2022 - Dec 2023)
Canada ¥ 10.9B (429%)
Spain ¥ 3.09B (646%)
South Korea ¥ 3.08B (59.5%)
Rapidly Declining Import Origins (Dec 2022 - Dec 2023)
United Arab Emirates ¥ -8.81B (-42.2%)
United States ¥ -7.72B (-38.4%)
Indonesia ¥ -4.73B (-23.6%)

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Economic Complexity

Economic Complexity of Okayama

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Economic Complexity (2023)0.34

Okayama ranks 25th 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

The economic complexity of a territory can change year to year. Okayama it is in position 25th 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 Okayama already has a comparative advantage, are led by Oxometallic or Peroxometallic Acid Salts (0.1), Ethers (0.092), Acrylic Polymers (0.092), Phenols (0.091), and Halogenated Hydrocarbons (0.089).

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Most Complex Products by PCI

The highest complexity exports of Okayama according to the product complexity index (PCI) are Lubricating Products (1.68), Flat Flat-Rolled Steel (1.44), Ketones and Quinones (1.43), Halides (1.43), Organo-Sulfur Compounds (1.41), Flat-Rolled Iron (1.28), Combustion Engines (1.27), Petroleum Resins (1.24), Chemically Pure Sugars (1.15), and Aldehydes (1.14). 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 Granulated Slag (70.40), Cyclic Alcohols (53.62), Flat Flat-Rolled Steel (48.91), Fluorides (46.58), and Aldehydes (44.52).

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Product Space

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 Okayama 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  Okayama. These are products that tend to be co-exported with the products that Okayama 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
Filter

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.

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