HS Code:
This overview focuses on the global trade of 'Machinery and Mechanical Appliances' (HS Code: 84) from Japan, a leading non-EU country in this category. This product category includes a wide range of machinery such as industrial equipment, engines, pumps, and other mechanical devices used across various industries including manufacturing, construction, and energy. Japan is renowned for its high-quality production and innovation in this sector, making it a key player in the global market.
Total Trade Volume
USD 142.3 billion
Data from 2022
Source
United Nations Comtrade Database
USD 38.5 billion
27.1% of total trade
Increasing
USD 25.7 billion
18.1% of total trade
Increasing
USD 15.2 billion
10.7% of total trade
Stable
USD 10.8 billion
7.6% of total trade
Decreasing
USD 8.9 billion
6.3% of total trade
Increasing
Average Rate
5.2%
Highest Rate
12% (applied by certain developing countries)
Lowest Rate
0% (under free trade agreements like CPTPP)
Increased demand for automation equipment
Boosts exports of robotics and industrial machinery from Japan, particularly to the US and China
2022
Shift towards sustainable machinery
Encourages innovation in energy-efficient and eco-friendly equipment, aligning with global green initiatives
2021-2022
Supply chain disruptions due to geopolitical tensions
Temporary delays in export shipments and increased costs for Japanese manufacturers
2022
Japan and the United States signed an updated trade agreement reducing tariffs on machinery imports to the US, enhancing market access for Japanese exporters.
October 2022
Expected to increase Japanese machinery exports to the US by 5-7% in 2023.
Japan launched a government-backed initiative to promote robotics exports, targeting emerging markets in Southeast Asia.
March 2023
Projected to open new markets and diversify export destinations for Japanese machinery.
Japan introduced a supply chain resilience plan to mitigate disruptions caused by global events, focusing on domestic production of critical machinery components.
July 2022
Likely to stabilize export volumes in the long term but may increase production costs in the short term.