Japan: Economy (2024)

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Economic Trivia

While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis.

Trade Source: United Nations Comtrade
Note: Top 3 trade partners are calculated by imports + exports.

Top 3 Trade Partners (2021): China, United States, and South Korea
Top 3 Exported Goods (2021): Industrial Machinery, Motor Vehicles & Parts, and Electrical Machinery

Top Industries Source: CIA World Factbook

Motor Vehicles; Electronic Equipment; Machine Tools; Steel and Nonferrous Metals

Gross Domestic Product (GDP) [1]

GDP, PPP (current international) $5,702,286,567,031 (2022)
GDP Growth Rate (annual %) 1.029% (2022)
GDP Per Capita, PPP (current international) $45,573 (2022)

Click on a row to display its 5-year graph on the right.

GDP Country Rank 4/197 (2022)

GDP Composition %

Note: GDP composition percentage may exceed 100. Manufacturing is included in the Industry figures and is also reported separately because it plays a critical role in many economies.

Economic Indicators [1]

Inflation, consumer prices (annual %) 2.498% (2022)
External debt stocks, total (DOD, current US$) Data unavailable
Total tax rate (% of commercial profits) 46.7% (2019)
Real Interest Rate (5 year average %) 1.069% (2017)
Manufacturing, value added (% of GDP) 20.479% (2021)
Current Account Balance (BoP, current US$) $90,963,103,991 (2022)

Click on a row to display its 5-year graph on the right.

Labor and Employment [1]

Labor Force, Total 68,931,322 (2022)
Employment in Agriculture (% of total employment) 3.17% (2021)
Employment in Industry (% of total employment) 23.712% (2021)
Employment in Services (% of total employment) 73.118% (2021)
Unemployment Rate 2.641% (2022)

Click on a row to display its 5-year graph on the right.

Trade [1]

Imports of goods and services (current US$) $937,984,913,930 (2021)
Exports of goods and services (current US$) $911,086,657,017 (2021)
Total Merchandise Trade (% of GDP) 38.859% (2022)
FDI, net inflows (BoP, current US$) $47,522,407,141 (2022)
Commercial Service Exports (current US$) $166,035,428,482 (2022)

Click on a row to display its 5-year graph on the right.

Economic Snapshot [1]

Note: Percentile ranks are calculated using the latest available data for all countries within the last 5 years.

How to interpret the graph: The purpose of this graph is to take a snapshot of a country’s economy in comparison to other economies. For example, Japan’s Exports rank is higher than (please wait...) of the countries in the dataset. For Exports, FDI and GDP measures, a higher rank (closer to 100%) indicates a stronger economy. Conversely, for Unemployment and Inflation, a lower rank (closer to 0%) indicates a stronger economy.

Due to unavailable data the following indicators have been omitted:

  • Exports
  • FDI, net inflows
  • GDP Growth Rate
  • GDP Per Capita
  • Inflation
  • Unemployment

Sources

  1. The World Bank
Japan: Economy (2024)
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