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In 2007, the country accounted for 6.6% of the gross world product. The nation has one of the highest GDP per capita, almost $34,0, according to the imf. From year 2008 till the second quarter of 2009, Japan recorded negative growth.
In 2007, the country accounted for 6.6% of the gross world product. The nation has one of the highest GDP per capita, almost $34,0, according to the imf. From year 2008 till the second quarter of 2009, Japan recorded negative growth.
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In 2007, the country accounted for 6.6% of the gross world product. The nation has one of the highest GDP per capita, almost $34,0, according to the imf. From year 2008 till the second quarter of 2009, Japan recorded negative growth.
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(growth rate: -0.1%); birth rate: 7.6/1000; infant mortality rate: 2.8/1000; life expectancy: 82.1; density per sq km: 339
Capital and Largest city : Tokyo,
35,327,000 (metro. area), 8,483,050 (city proper)
Literacy rate: 99% (2002 est.)
Other large cities: Yokohama, 3,494,900 (part of Tokyo metro. area); Osaka, 11,286,000 (metro. area), 2,597,000 (city proper); Nagoya, 2,189,700; Sapporo, 1,848,000; Kobe, 1,529,900 (part of Osaka metro. area); Kyoto, 1,470,600 (part of Osaka metro. area); Fukuoka, 1,368,900; Kawasaki, 1,276,200 (part of Tokyo metro. area); Hiroshima, 1,132,700 Japan GDP Growth Rate
Japan is the third largest economy in the
world ($4.3 trillion) after the United States and China measured on a purchasing power parity basis. In 2007, the country accounted for 6.6% of the gross world product. The nation has one of the highest GDP per capita, almost $34,0, according to the International Monetary Fund.
From year 2008 till the second quarter of
2009, Japan recorded negative growth. Japan Economy Japan’s economy, the world’s second largest, is deteriorating at its worst pace since the oil crisis of the 1970s, hurt by shrinking exports and anemic spending at home.
The country’s real gross domestic
product shrank at an annual rate of 12.7 percent from October to December after contracting for two previous quarters, the government said Monday. When compared with the third quarter of 2008, Japan’s economy receded 3.3 percent
The Japanese economy is one of the
strongest in the world. Only the USA has a higher GNP. The Japanese currency is the Yen.
Exports: Japan's main export goods are
cars, electronic devices and computers. Most important single trade partner is the USA which imports more than one quarter of all Japanese exports. Other major export countries are Taiwan, Hong Kong, South Korea, China and Singapore.
Imports: Japan has a large surplus in its
export/import balance. The most important import goods are raw materials such as oil, foodstuffs, and wood. Major suppliers are the USA, China, Indonesia, South Korea, and Australia.
Industries: Manufacturing, construction,
distribution, real estate, services, and communication are Japan's major industries today. Agriculture makes up only about 2% of the GNP. Most important agricultural product is rice. Resources of raw materials are very limited and the mining industry rather small. Economic Recovery : Followed by Deep Recession Japan's postwar economic recovery was nothing short of remarkable. New technologies and manufacturing were undertaken with great success. A shrewd trade policy gave Japan larger shares in many Western markets, an imbalance that caused some tensions with the U.S. The close involvement of Japanese government in the country's banking and industry produced accusations of protectionism. Yet economic growth continued through the 1970s and 1980s, eventually making Japan the world's second-largest economy (after the U.S.).
During the 1990s, Japan suffered an
economic downturn prompted by scandals involving government officials, bankers, and leaders of industry. Japan succumbed to the Asian economic crisis in 1998, experiencing its worst recession since World War II. These setbacks led to the resignation of Prime Minister Ryutaro Hashimoto in July 1998. He was replaced by Keizo Obuchi. In 1999, Japan seemed to make slight progress in an economic recovery. Prime Minister Obuchi died of a stroke in May 2000 and was succeeded by Yoshiro Mori, whose administration was dogged by scandal and blunders from the outset. Economic summary According to the CIA World Factbook, the estimated GDP-Purchasing power parity of Japan in 2007 was $4.29 trillion, and the GDP (PPP) per capita was $33,600. Japanese GDP grew at 2.8% in 2007. The economy is highly advanced and dominated by the services sector, accounting for 73.1% of the economy. The industrial sector, once the engine of Japan's growth, contributed 25.3% of the GDP. The agricultural sector accounts for only 1.6% of the economy. GDP/PPP (2007 est.): $4.29 trillion; per capita $33,600. Real growth rate: 2.1%. Inflation: 0%. Unemployment: 4%. Arable land: 12%. Agriculture: rice, sugar beets, vegetables, fruit; pork, poultry, dairy products, eggs; fish. Labor force: 66.07 million; agriculture 4.6%, industry 27.8%, services 67.7% (2004). Industries: among world's largest and technologically advanced producers of motor vehicles, electronic equipment, machine tools, steel and nonferrous metals, ships, chemicals, textiles, processed foods. Natural resources: Negligible mineral resources, fish. Exports: $665.7 billion f.o.b. (2007 est.): transport equipment, motor vehicles, semiconductors, electrical machinery, chemicals. Imports: $571.1billion f.o.b. (2007 est.): machinery and equipment, fuels, foodstuffs, chemicals, textiles, raw materials. Major trading partners: U.S., China, South Korea, Taiwan, Hong Kong, Indonesia, Australia, Saudi Arabia, UAE (2006). Although exports (still around two thirds of last year levels) declined at the slowest pace in the second quarter, it was mostly due to global stimulus measures and renewed inventory buildup. Looking forward, at Trading Economics we expect Japanese economic growth to stay below trend with sluggish spending around the world expected to continue and stimulus packages sooner or later drying up.