Japanese Food Exports Hit Record High for Tenth Straight YearEconomy
Japan’s 2022 exports of agricultural, forestry, and fishery products and foodstuffs rose to ¥1.41 trillion, up 14.3% over the previous year. This was the tenth consecutive year for record-high exports, bolstered by a weaker yen and renewed demand from restaurants now that most COVID-19 pandemic restrictions have been lifted.
By product category, exports of scallops (fresh, refrigerated, and frozen) rose by 42.4% year on year to ¥91 billion. Large Japanese scallops have been winning worldwide recognition, with particularly robust sales to the United States and China. Japanese whisky has also gained stronger name recognition overseas. Whisky exports increased by 21.5% over the previous year, to ¥56 billion, bolstered by strong sales in the United States and China as well as expanding market share in Singapore and Britain. Meanwhile, the popularity of sake has been rising, with exports increasing by 18.2% in 2022. Buri (yellowtail) exports to the US market also rose last year amid growing demand from restaurants.
By country or region, overall exports to China increased by 25.2%, to ¥278.3 billion, driven by sales of scallops and sake. Exports to Hong Kong declined by 4.8% to ¥208.6 billion. Sales increased to the United States by 15.2%, to ¥193.9 billion, with sales of scallops and buri leading the way.
The government has set an export target of ¥5 trillion to be reached by 2030. However, challenges may arise as a result of sluggish consumption in Western markets, where prices have been soaring, and from the impact on seafood sales following the oceanic release of treated water from the Fukushima Daiichi Nuclear Power Plant.
(Translated from Japanese. Banner photo © Pixta.)