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Who buys Japan’s steel? Export destinations 2024

In 2024, Japan exported $25.9 billion of steel (29.9 million tonnes), 7.4% of the world total. Its main destinations were Thailand (14%), South Korea (13%) and China (11%). Japan was the world’s 2nd-largest exporter of steel.

Summary

Value
$25.9billion
Tonnes
29.9million tonnes
Share of world total
7.4%
World rank
2nd
Routes to the main destinations. Width: value; color: estimated transport mode.SeaAirLand

Destinations

The 20 main destinations in the latest year.

PartnerValue (USD billions)TonnesUSD per tonneShareMode
Thailand3.7Tonnes: 4,134,456USD per tonne: $90514.5%Sea
South Korea3.2Tonnes: 4,636,695USD per tonne: $70012.5%Sea
China2.8Tonnes: 2,545,345USD per tonne: $1,10410.9%Sea
Mexico1.9Tonnes: 1,763,759USD per tonne: $1,0807.4%Sea
Indonesia1.8Tonnes: 2,108,554USD per tonne: $8757.1%Sea
India1.8Tonnes: 2,004,601USD per tonne: $9127.1%Sea
Vietnam1.4Tonnes: 2,225,996USD per tonne: $6315.4%Sea
Taiwan1.3Tonnes: 1,436,896USD per tonne: $9045%Sea
United States1.2Tonnes: 847,412USD per tonne: $1,3994.6%Sea
Malaysia0.6Tonnes: 694,701USD per tonne: $8642.3%Sea
Philippines0.48Tonnes: 537,518USD per tonne: $9021.9%Sea
United Arab Emirates0.4Tonnes: 595,364USD per tonne: $6681.5%Sea
Italy0.39Tonnes: 479,594USD per tonne: $8151.5%Sea
Bangladesh0.32Tonnes: 605,357USD per tonne: $5331.3%Sea
Singapore re-exports0.31Tonnes: 326,680USD per tonne: $9381.2%Sea
Spain0.3Tonnes: 438,099USD per tonne: $6881.2%Sea
Colombia0.28Tonnes: 435,583USD per tonne: $6511.1%Sea
Kenya0.22Tonnes: 405,515USD per tonne: $5320.83%Sea
Canada0.21Tonnes: 87,181USD per tonne: $2,3790.8%Sea
Turkey0.21Tonnes: 155,010USD per tonne: $1,3370.8%Sea

Trend

Who it sells to

Thailand has been its main destination since 2021

Value in USD billions. The five largest destinations in 2024.

  • Thailand 3.7
  • South Korea 3.2
  • China 2.8
  • Mexico 1.9
  • Indonesia 1.8

Source: CEPII BACI

Show the numbers
Partner19952024
Thailand1.83.7
South Korea1.93.2
China2.52.8
Mexico0.131.9
Indonesia0.591.8

Sources and methodology

Other products of this country

Sources and licenses

Methodology

Goods trade from CEPII BACI (BACI_HS92_V202601), which reconciles what exporters and importers report: countries that stopped reporting (Russia since 2022) appear with their partners’ data. FOB values in current US dollars; tonnes when BACI reports them. The price per tonne is the value of the rows with a weight divided by that weight. The transport mode is our own estimate based on value per kilo and geography. Data up to 2024.

Hong Kong, Singapore, the Netherlands and Belgium re-export goods from other countries: their figures include transit.

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