There are plenty of ex pats who live abroad and have to live by the local currency. When you live in countries such as Japan and China, as a UK ex pat, you tend to be very aware of currency and your living expenditure.
So when the import and export market took a hit in Japan, many UK citizens living in those countries really noticed a change in the economy. Luckily it seems things are doing well in terms of UK Import in Japan. Because of the fluctuations of the economy, Japan has now opened its doors to thousands of Chinese tourists who flock to the country in their bus loads to find some incredible bargains. Japan now takes Chinese credit cards and make sure they are fluent in Chinese to expand to this tourist market.
Now is a good time to be looking at the Japanese market, whether you require materials or state of the art products. In the last few years companies cut back on the amount of import and export carried out overseas as the cost seemed to out weigh any profits. Companies sourced products in their own countries and invested in machinery to make the cost of production much lower.
The other outcome of the economic crisis was that companies couldn’t afford to produce and needed funding to carry on the process of manufacturing.
When importing and exporting, there is a way of guaranteeing payment between companies using letters of credit. These are not simply letters types up by anyone, they have to adhere to specific rules and regulations and presented to the supplier or client to enable shipping and the guarantee of payment.