Vehicles Export of Japan: The Trade Analysis of 2024
Japan, an island nation in Asia, located alongside the northwestern coast of the Pacific Ocean, with its borders surrounded by China, Russia, and Taiwan in the west, north, and southeast, has emerged as the leading exporter of vehicles in the international trade market. Japan Import Data says, the weakening of the Japanese yen to around 160 US dollars in mid-2024 and the strong global demand of vehicles driven specifically by the United States, European Union, and China with a share of 18%, 15%, and 4.5% has made Japan introduce more of its domestic productions in the international trade for a thriving export revenue rate. The accelerated shipments in the United States ahead of a 25% tariff on imported vehicles and the hike in export of Japanese-used cars by 2% in mid-2024 have resulted in an export trade value of vehicles worth 167 billion US dollars in 2024. The increasing export of Japanese vehicle brands manufactured in India back to Japan, like the Maruti Suzuki Front and Honda W...