JAPAN’S MINISTRY OF ECONOMY, TRADE AND INDUSTRY COMPLETES SEA REPORT DEFINING THE DIGITAL TOOLS NEEDED FOR ECONOMIC EXPANSION
January 15, 2018
On January 15, 2018, GCEL met with officials from Japan’s Ministry of Economy, Trade and Industry (METI) in Tokyo to complete the Japan Shipment Efficiency Assessment (SEA) Report, which examined how digitalizing Japan’s global value chains can support national economic objectives.
The report found that the adoption of advanced digital tools could reduce Japan’s annual domestic and international trade costs by USD 119.6 billion, increase trade by USD 164 billion, grow GDP by 8.1%, and create more than 1.1 million jobs by 2030.
The assessment also highlighted the opportunity for Japan to expand exports by supporting economic growth in middle-income and low-income countries. According to the report, every 1% increase in the purchasing power of these economies could generate an additional USD 10.4 billion in Japanese exports.
In addition, the study found that 90.5% of participants lacked an integrated system, while 94.5% agreed on the need for new digital tools to improve competitiveness and support future growth.
