Agriculture-related exports from Japan to the world continue to rise, despite a large hit to seafood exports after treated water was released from the earthquake-rocked Fukushima Daiichi nuclear energy plant last year.
Exports of agriculture, fisheries, and forest products reached a record high of 1.45 trillion yen (EUR 9.06 billion) in 2023, an increase of nearly 3% over the total in 2022. Reasons reported for the increase include higher demand as economies around the world recover from the global pandemic, as well as a rising value of the U.S. dollar vis-à-vis the yen, making Japanese products less expensive in dollar terms.
Exports to South Korea and Hong Kong rose the fastest, up by 14% and 13% respectively, and U.S.-bound exports also grew well, rising by more than 6%. However, exports to mainland China experienced a sharp drop of -14%, due largely to immediate restrictions that China imposed on marine products trade with Japan following the release of the nuclear plant’s water.
Japan hopes to continue setting new export records, with a target of 2 trillion yen (EUR 12.5 billion) by 2025, which will require significant diversification globally as Chinese prohibitions continue.
