Exports to U.S. Drive Japanese Auto Industry Growth
Executive Summary
Japanese exports to Europe were down 10%, while shipments to the U.S. and Asia were relatively flat.
TOKYO – Japan’s automotive trade grew 13% in 2013 on the strength of surging exports to the U.S.
With the dollar regaining more than one-fourth of its pre-recession value, trade in autos and parts grew to ¥15.67 trillion ($152.9 billion) including ¥13.9 trillion ($135.5 billion ) in exports, 75% cars and trucks, and ¥1,783.2 billion ($17.4 billion) in imports, 61% mostly cars.
Japan’s surplus grew to ¥12.1 trillion ($118.1 billion), up from ¥10.0 trillion ($107.1 billion) in 2012.
Unchanged from the past, the U.S. was the leading export market at ¥3,745.9 billlion ($36.5 billion), up 20% over 2012 levels.
On a unit basis, Japan exported 5,843,807 vehicles including 390,469 to Europe, down 10%. Exports to the U.S. and Asia were relatively flat at 1,740,928 and 839,938 units, respectively.
Imports from Europe, primarily Germany, rose 3% to 363,941 units. Germany was the only country to have registered a trade surplus with Japan, ¥421.9 billion ($4.1 billion), with imports totaling ¥674.3 billion ($6.3 billion) and exports ¥225.4 billion ($2.2 billion).
Vehicles, including Volkswagen, BMW and Mercedes cars, totaled ¥578.3 billion ($5.6 billion).
