An Overview of the Economy
Japan is one of the largest economies in the world with a GDP of
nearly US$4.4 trillion at official exchange rates (according to the
CIA World Factbook). The economy relies heavily on international
trade related sectors whilst sectors such as agriculture are
focussed on less heavily. A well educated and industrialised
workforce and close networks of manufacturers, suppliers and
distributors contribute to the success of the economy which has
seen incredible growth over previous decades before hitting a slump
period. Efforts to improve the situation from the turn of the
century have brought the growth of the economy back to healthy
levels.
| statistics |
|
| GDP (PPP) (IMF) (US$Billions) |
4,383 |
| GDP (PPP) (CIA) (US$Billions) |
4,290 |
| GDP Growth (IMF) (%) |
2.1% |
| GDP Growth (CIA) (%) |
2.1% |
| GDP Per Capita (PPP) (IMF) (US$) |
33,576 |
| GDP Per Capita (PPP) (CIA) (US$) |
33,600 |
| GDP by Sector (%) |
Agriculture: 1.4%
Services: 72%
Industry: 26.5% |
| Inflation (%) |
0.0% |
| Population Below the Poverty Line (%) |
- |
| Labour Force (Millions) |
66.7 |
| Labour Force by Occupation (%) |
Agriculture: 4.6%
Services: 67.7%
Industry: 27.8% |
| Unemployment (%) |
3.9% |
| Main Industries |
Motor vehicles, electronic equipment,
machine tools, steel and nonferrous
metals, ships, chemicals, textiles,
processed foods. |
Sources: CIA World Factbook, IMF
GDP
| economic indicators |
2003 |
2004 |
2005 |
2006 |
2007 |
| GDP (US$Billions) |
4,234.9 |
4,608.1 |
4,560.7 |
4,377.1 |
4,384.0 |
| GDP Growth (%) |
-0.3% |
2.7% |
2.9% |
2.6% |
2.1% |
| GDP Per Capita (US$) |
33,180 |
36,075 |
35,699 |
34,263 |
34,312 |
| GDP Per Capita (PPP) (US$) |
27,221 |
28,702 |
30,315 |
32,031 |
33,600 |
| Inflation (%) |
-0.9% |
-0.3% |
-0.1% |
0.3% |
0.0% |
| Unemployment (%) |
5.4% |
5.3% |
4.7% |
4.4% |
3.9% |
| Mobile Phone Users |
63,880,000 |
86,658,600 |
86,658,600 |
94,745,000 |
101,700,000 |
| Internet Users |
56,000,000 |
57,200,000 |
57,200,000 |
86,300 |
87,540,000 |
Sources: CIA World Factbook, IMF
Major Exports & Imports
Japan has a very strong economy and is a leading producer of
many electronics and machinery with China as its main trading
partner. What is perceived as an overdependence on petroleum has
prompted the Japanese government to diversify imported energy
sources from a large percentage of petroleum to sources such as
coal, liquefied natural gas, nuclear and hydro power.
major exports 2007
Transport equipment, motor vehicles, semi conductors, electrical
machinery, chemicals.
major imports 2007
Machinery and equipment, fuels, foodstuffs, chemicals, textiles,
raw materials.
| export partners |
% of total |
| US |
22.8% |
| China |
14.3% |
| South Korea |
7.8% |
| Taiwan |
6.8% |
| Hong Kong |
5.6% |
| import partners |
% of total |
| China |
20.5% |
| US |
12.0% |
| Saudi Arabia |
6.4% |
| UAE |
5.5% |
| Australia |
4.8% |
| South Korea |
4.7% |
| Indonesia |
4.2% |
Source: CIA World Factbook
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