Japan: Export target of 1 trillion met thanks to beef and sake

The Japanese government expects the new RCEP Asia-Pacific Free Trade Agreement to further boost Japan's food exports.

Japan's agricultural exports exceeded 1 trillion yen (7.7 billion euros) for the first time, according to the Japanese Ministry of Finance. The main factor was a sharp increase in shipments of beef and sake.

The Japanese government originally set a one trillion target for 2020, but supplies have slowed due to the market's response to the pandemic. As Chief Cabinet Secretary Hirokazu Matsuno said at the end of 2021, the value of exports between January and November 2021 was 1.06 trillion yen. The value of exports in 2020 reached 986 trillion yen.

According to the Ministry of Agriculture, Forestry and Fisheries, the ongoing pandemic has resulted in robust online sake sales to CHINA   in 2021 with an 81.1% growth, helping to exceed the 1 trillion target last year.

Further growth is expected in 2022 thanks to the new Asia-Pacific free trade agreement, which came into force on January 1. The Regional Comprehensive Economic Partnership (RCEP) consists of 15 countries in East Asia and the Pacific, including China, Japan and SOUTH KOREA. This is the largest trade agreement in the world.

While exports are steadily rising, 14 countries still have restrictions on Japanese food following the Fukushima nuclear disaster. Lifting these restrictions could further increase food exports from Japan.