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Marchio di Ospitalità Italiana

Made in Italy: so far, Industrial goods have the upper hand on imports to Japan

Up to past September, Italian exports to Japan have resisted decently this year’s economic and exchange storms, data from Japanese customs reveal. During the first three terms of 2014 Made in Italy goods have been registered at Japanese Customs for a total value of more nearly 700 billion yen (about 4,7 billion Euro at the current exchange rate), down only 1.8% from the same period in 2013. The picture is even brighter when restricting the figures to the 19 items whose imported value in yen is above the average, which account for the two thirds of the total imports: +9%.

At any rate, a more detailed analysis of this subset indicates clearly that the volumes of imported goods have generally decreased of a substantial amount.

COMMODITY NAME

UNIT

JAN-SEP QUANTITY

CUMULATIVE YEAR TO DATE VALUE (¥)

2014/2013 QUANTITY

2014/2013 VALUE

INTEGRATED CIRCUITS

NO

12,503,326

5,614,890,000

60,11%

141,26%

INTERNAL COMBUSTION ENGINE

KG

9,143,337

19,066,022,000

60,72%

71,74%

AIRCRAFT ENGINES

KG

89,380

10,533,147,000

101,75%

63,11%

PASSENGER MOTOR CARS

NO

5,080

28,531,846,000

12,27%

26,05%

PARTS OF MOTOR VEHICLES

KG

2,486,369

5,943,259,000

11,32%

25,86%

WINE

L

32,474,355

17,618,490,000

5,29%

17,25%

ELECTRICAL MEASURING

   

5,571,263,000

 

15,85%

ORGANIC CHEMICALS

   

25,464,697,000

 

13,64%

CHEESE AND CURD

MT

6,057

6,825,436,000

1,36%

11,15%

FOOTWARE

KG

2,304,576

30,858,147,000

-5,09%

9,44%

FABRICS CONTAINING SILK

SM

4,229,804

7,188,669,000

-0,33%

8,30%

BAGS

KG

1,743,788

71,689,140,000

-7,31%

7,02%

MEN'S & BOY'S DRESS

DZ

72,559

16,529,945,000

-8,85%

6,37%

FURNITURE

KG

11,069,212

11,917,092,000

0,92%

6,05%

SWEATERS

DZ

76,852

12,194,016,000

-9,62%

6,02%

VEGETABLS OIL, FAT

MT

20,096

12,287,494,000

-4,36%

5,09%

WOMEN'S & GIRL'S DRESS

DZ

75,670

17,099,184,000

-6,52%

3,63%

CLOTHING ACCESSORIES

KG

329,124

13,099,930,000

-16,82%

-8,18%

This is especially true for the typical artifacts of Made in Italy, such as shoes (-5%), bags (-7%), apparel and accessories (from -6.5% to -16.8%) and olive oil, whose volume for Italy has been recently overcast by the Spanish performance.

On the contrary, instrumental goods and industrial parts have been experiencing a renewed spring with volumes and rates of growth well above average: integrated circuits experiences a surge of 140% in value and 60% in volume; aircraft engines imports doubled their volume against an increase in value of more than 60%.

In the midst of a purported Abenomics crisis, industrial goods may take advantage of a steady increase of industrial output by Japanese companies, and this trend could persist as the yen devaluation gives breath to Japanese exports. Despite the huge stimulus to infrastructural projects in the country, materials and tools for the construction industry are notably out of the chart: this speaks of the still existing barrier to entry for foreign companies and the strong (even if not unique) binding of the construction industry to local administrations and national players.

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