Japan's Resource Imports

Kazuo Sato

The ANNALS of the American Academy of Political and Social Science, 1991, vol. 513, issue 1, 76-89

Abstract: As a resource-poor country, Japan depends much on imports of resource goods—foods, fuels, and crude materials—to keep its economy running. This dependence has increased over time, making Japan vulnerable to supply shocks. At the same time, demand shocks emanating from its domestic economy have come to exert a greater influence on the world economy. Because Japan exports almost wholly manufactured goods and imports largely resource goods, its bilateral trade balance ends up with a surplus with industrial economies and a deficit with primary-producing countries even when Japan's trade is globally balanced. This trade structure gives rise to trade frictions, especially with the United States. Unless the structure is altered fundamentally, Japan will find it increasingly difficult to fit itself into the world economy.

Date: 1991
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Persistent link: https://EconPapers.repec.org/RePEc:sae:anname:v:513:y:1991:i:1:p:76-89

DOI: 10.1177/0002716291513001007

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