
Why the Japanese will soon be our biggest market
The Japanese market for American brands will soon rival the U.S. for a third consecutive year, according to a report by a Japanese media group.
The Japanese government has said it wants to export more than $400 billion worth of products to the U, while China is expected to make more than twice that amount, the Nikkei business daily reported.
The U.K. and France are expected to overtake Japan as the biggest markets for American products, according the Nikken data, while Germany and Canada will take second and third spots.
Japan’s top 10 markets for U.s. products in 2016 include Los Angeles, San Francisco, New York, Philadelphia, Chicago, San Jose, Washington and Detroit, according TOKYO JAPAN.
A Japanese government-owned brokerage reported in January that Japan was the biggest foreign market for U-shaped Japanese-made products in 2017, with more than half the global market.
It forecast a record $1.4 trillion in global sales for the year, up nearly 10 percent from 2016.
U. S. firms are also expected to add nearly $4 billion to their global sales in 2020, according a report from Euromonitor International.
Japan has seen strong growth in the past two years as the global economy has improved, and its exports to the United States have also increased.
In 2020, the country was the top market for Western and Western-style clothing.