| V.
MARKET OPPORTUNITIES
Japan is a big and affluent market. It has a population of 127.43 million and a per capita GDP of US$ 34,200. Its attractiveness as an export market is enhanced by its geographical proximity to the Philippines.
In 2006, Japan imported US$ 579 billion worth of products from the world which represent 4.9% of global imports and making it the 6th largest importer in the world. Its top imports that year were:
| Products |
Percent
share
to total imports |
| 1.
Mineral fuels, oils distillation products |
28
% |
| 2.
Electrical, electronic equipment |
12
% |
| 3.
Food products |
10% |
| 4.
Nuclear reactors, boilers, machineries,
etc. |
9% |
| 5.
Optical, photo, technical, medical
apparatus, etc. |
4% |
FOOD PRODUCTS
-
Exports of food products have very good prospects in Japan. The country imports a huge amount of food products because of increasing diversification of the people's diet and advancing age of its farmers. In 2006 food imports totaled US$58 billion.
-
The Japanese are very fond of seafoods . In 2006 US$10.87 billion of fresh/frozen marine products andUS$2.6 billion processed marine products were imported by Japan. The Philippines can supply tuna, octopus,
crabs, lobsters, shrimps and prawns which rank high among the Japanese favorite
seafoods.
-
Philippine fruits like bananas, pineapples, mangoes, avocados and papayas are very well accepted by Japanese consumers.
-
Imported vegetables have now become a familiar feature in Japanese kitchens that the Japan External Trade Organization (JETRO) said in its website that "imported vegetables sink roots in Japan market." The Philippines can supply
carrots, cabbages, beans and broccoli.
-
There are also opportunities for processed food products like juices, jams, jellies, marmalades, nuts, canned tuna, dried and smoked fish, biscuits and coffee.
HOUSEHOLD PRODUCTS, LIFESTYLE PRODUCTS AND GIFT ITEMS
-
This product category includes a wide range of goods such as furniture, ceramics, tableware, home furnishings, glass products, musical instruments, toys, plastic items, stationery.
-
About 50% of this product category is imported and prospects for growth are good because of a number of reasons. New sales channels are being developed, including stores entirely devoted to household goods. The customer base of household stores is also expanding from its traditional female clientele as the stores now offer unisex items and items for men. World wide terrorism has also improved domestic shopping for these products vis a vis overseas shopping.
INDUSTRIAL PRODUCTS
-
Japan has more car manufacturers than the Unites States, making it a very good market for automotive parts and accessories. The rate of in-house parts production by Japanese car makers is also low as they produce only the critical parts and subcontract the rest.
-
Japan is a leading exporter of electronic products, hence there are big opportunities for parts and components for these products. Most of these products are also duty free when imported into Japan.
|
