Export Markets: Japan and British

export markets: In spite of all this, Japan has lagged behind as a destination for U.K. exports, according to The Japan Times. While the U.S. and China are Britain's largest and sixth-largest export markets for goods and services, Japan ranked a distant 11th in 2017, according to the U.K.'s Office for National Statistics ONS . As such, there is a sense in the British business community that there are still many more deal-making opportunities to be clinched in Japan. As prospects of a no-deal Brexit persist, British companies are coming under more pressure than ever to develop a footprint in markets outside of the European Union. ; In many ways, Japan is an obvious destination, considering the sheer size of its economy and the depth of historical ties British industrialists played a key role in the overhaul of Japan's economic base during the Meiji Era 1868-1912 . Specifically, the country boasts mature, affluent consumers who demand high-quality goods, and manufacturers in need of the kinds of advanced components and machinery that British manufacturers specialize in. It's a big market, but the U.K. could certainly be doing better, said Guy Dru Drury, the chief representative to Northeast Asia for the Confederation of British Industry, the U.K.'s largest business lobby group. And Jonathon Jones, managing director at Tregothnan, the operator of a tea estate and Department for International Trade DIT export champion that has signed deals with Japanese department stores, describes the market, even one as far flung as Japan, as a huge opportunity for small firms. Companies with a presence in the market include titans of British business such as drugmaker Glaxo Smith Kline PLC and professional services firm EY, as well as smaller companies that have inked deals selling everything from luxury soap to solar panels. (news.financializer.com). As reported in the news.