WEBVTT 00:01.120 --> 00:06.820 Welcome back, Daniel Workman here, senior research yst at world's top exports.com 00:07.199 --> 00:11.779 Today, I'd like to share some key insights about imported Japanese cars 00:12.020 --> 00:21.129 Japan is the world's number two exporter of cars by dollar value behind Germany cars were the world's fourth most valuable 00:21.129 --> 00:29.790 trade commodity. In 2022 they trailed only crude oil, refined petroleum and electronic integrated circuits 00:30.620 --> 00:36.020 By far, cars are the greatest product imported from the land of the rising sun 00:38.680 --> 00:46.310 Here's a snapshot agenda for our presentation starting with worldwide spending on imported Japanese cars 00:46.750 --> 00:51.580 We'll highlight the fastest growing and severest declining importers of Japanese cars 00:51.669 --> 01:01.500 Then we'll focus on average prices per car paid by country. Our final educational slide will summarize key findings from our ysis 01:03.990 --> 01:12.099 Popular Japanese car brands include Toyota, Lexus, Nissan, Honda, Mitsubishi and Subaru 01:12.709 --> 01:21.870 Worldwide. Imports of Japanese cars totaled in US dollars, 87.2 billion in 2022 flat 01:21.870 --> 01:28.589 lining by a modest 1.9% gain compared to 85 point 6,000,000,001 year 01:28.589 --> 01:38.650 Earlier in terms of the number of imported cars, Japan shipped an astounding 4.364 01:38.650 --> 01:48.199 million vehicles globally in 2022 down by minus 0.2% from the 4.374 million 01:48.199 --> 01:57.750 bought in 2021 importers in the United States of America spent the most on imported 01:57.750 --> 02:04.589 Japanese cars dominating almost 2/5 of all spending on cars imported from Japan 02:05.180 --> 02:14.500 The other four leading buyers accounted for a sub total, 23% of Japanese car imports or about 61% of America's total 02:14.500 --> 02:23.910 spend as the leading purchaser focusing on the 25 biggest importers 02:23.910 --> 02:33.160 Malaysia recorded the greatest percentage increase in Japanese car purchases. Mexico and Poland were also billion dollar spenders 02:33.160 --> 02:42.360 on imported Japanese cars for 2022. Posting double digit 02:42.360 --> 02:49.270 year over year reductions in their purchases of Japanese cars were relatively large customers 02:49.470 --> 02:58.529 notably importers in Russia and mainland China. The global 02:58.529 --> 03:05.050 average import cost per Japanese car was just under $20,000 in 2022 03:05.350 --> 03:14.389 Up by 2.1% compared to $19,569.01 year earlier for 2021. In 03:14.389 --> 03:24.089 addition, the benchmark imported Japanese car price increased by 8.2% compared to $18,464 03:24.089 --> 03:33.350 per car. Five years earlier in 2018 being the greatest average price per imported 03:33.350 --> 03:42.119 Japanese car were buyers in Qatar, a Middle Eastern nation ranking among the world's top four richest countries per capita 03:42.929 --> 03:53.520 Oman Norway and Kuwait are also wealthy exporters of petroleum oils incurring 03:53.520 --> 03:58.199 the lowest average price per imported Japanese car were buyers in Chile 03:58.199 --> 04:03.440 A relatively small smoked American nation home to about 20 million people 04:04.000 --> 04:11.880 Russia, which has about 100 and 45 million people is in Europe and Mexico has 100 and 28 million people in North America 04:12.210 --> 04:18.709 Both of those countries also spent relatively less or lower prices for imported Japanese car 04:19.618 --> 04:27.778 And while the United Arab Emirates is among the world's top 10 richest countries and is also a leading exporter of crude petroleum oil 04:27.778 --> 04:33.148 The UAE is a relatively small nation home to about 10 million residents 04:35.619 --> 04:43.420 So what are some of the key takeaways from our ysis for one imports of Japanese cars finished second to Germany in total revenues 04:43.779 --> 04:52.929 Yet Japan sold the most cars an astounding 4.364 million. The United States of America was the dominant buyer of 04:52.929 --> 05:02.529 imported Japanese cars. Well ahead of China, Malaysia, Qatar and Poland recorded the strongest gains in purchases from Japan 05:03.299 --> 05:12.940 but not all numbers are positive news for Japanese car makers, Russia and mainland China posted severe double digit reductions worldwide 05:12.940 --> 05:22.140 The average price for imported Japanese car was $19,981. In 2022 Qatar and China paid 05:22.140 --> 05:26.489 the highest average prices for imported Japanese car. And by the way 05:26.489 --> 05:34.709 Chile and Russia paid the lowest for more key insights and useful international trade data 05:34.850 --> 05:43.869 Please visit us at world's top exports.com. Please note that many of our articles feature a searchable document database that showcase the country's 05:43.869 --> 05:50.510 top 100 most valuable exported products. We'll see you next time on our next video