Japan - Economy
How is the economy of Japan? Based on the information we have, Japan has a second-largest East Asian economy; trade-oriented and highly diversified; high public debt levels; following years of near-zero interest rates, gradual increases to address inflation and depreciation of yen; strong rebound in tourism; aging population poses challenges to labor force participation. Key agricultural products in this country include: rice, milk, sugar beets, vegetables, eggs, chicken, potatoes, onions, cabbages, pork (2023).
More about the economy of Japan
| Labor force | 69.382 million (2024 est.) |
|---|---|
| Industrial production growth rate | 1.4% (2023 est.) |
| Industries | motor vehicles, electronic equipment, machine tools, steel and nonferrous metals, ships, chemicals, textiles, processed foods |
| Population below poverty line | |
| Taxes and other revenues | |
| Fiscal year | |
| Exchange rates | |
| Currency | yen (JPY) per US dollar - |
| Exchange rates 2024 | 151.366 (2024 est.) |
| Exchange rates 2023 | 140.491 (2023 est.) |
| Exchange rates 2022 | 131.498 (2022 est.) |
| Exchange rates 2021 | 109.754 (2021 est.) |
| Exchange rates 2020 | 106.775 (2020 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2024 | $1.231 trillion (2024 est.) |
| Reserves of foreign exchange and gold 2023 | $1.295 trillion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $1.228 trillion (2022 est.) |
| Current account balance | |
| Current account balance 2024 | $194.257 billion (2024 est.) |
| Current account balance 2023 | $156.592 billion (2023 est.) |
| Current account balance 2022 | $90.21 billion (2022 est.) |
| Public debt | |
| Public debt 2022 | 215.9% of GDP (2022 est.) |
| Budget | |
| Revenues | $661.986 billion (2022 est.) |
| Expenditures | $897.03 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2024 | 0.1% of GDP (2024 est.) |
| Remittances 2023 | 0.1% of GDP (2023 est.) |
| Remittances 2022 | 0.1% of GDP (2022 est.) |
| Household income | |
| Lowest 10% | 2.4% (2020 est.) |
| Highest 10% | 23.9% (2020 est.) |
| Average household expenditures | |
| On food | 15.8% of household expenditures (2023 est.) |
| On alcohol and tobacco | 2.5% of household expenditures (2023 est.) |
| Imports | |
| Imports 2024 | $965.047 billion (2024 est.) |
| Imports 2023 | $996.364 billion (2023 est.) |
| Imports 2022 | $1.081 trillion (2022 est.) |
| Imports (partners) | China 22%, USA 11%, Australia 8%, UAE 5%, Saudi Arabia 5% (2023) |
| Comodities Imports force | crude petroleum, natural gas, coal, integrated circuits, broadcasting equipment (2023) |
| Exports | |
| Imports 2024 | $965.047 billion (2024 est.) |
| Imports 2023 | $996.364 billion (2023 est.) |
| Imports 2022 | $1.081 trillion (2022 est.) |
| Exports (partners) | USA 19%, China 18%, Taiwan 6%, S. Korea 6%, Hong Kong 4% (2023) |
| Comodities Exports force | cars, integrated circuits, machinery, vehicle parts/accessories, construction vehicles (2023) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2024 | $5.715 trillion (2024 est.) |
| Real GDP (purchasing power parity) 2023 | $5.71 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $5.627 trillion (2022 est.) |
| GDP (official exchange rate) | $4.026 trillion (2024 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2024 | $46,100 (2024 est.) |
| Real GDP per capita 2023 | $45,900 (2023 est.) |
| Real GDP per capita 2022 | $45,000 (2022 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 0.9% (2023 est.) |
| Industry | 28.6% (2023 est.) |
| Services | 69.8% (2023 est.) |
| GDP - composition, by end use | |
| Household consumption | 55.5% (2022 est.) |
| Government consumption | 21.6% (2022 est.) |
| Investment in fixed capital | 26.3% (2022 est.) |
| Investment in inventories | 0.5% (2022 est.) |
| Exports of goods and services | 21.5% (2022 est.) |
| Imports of goods and services | -25.3% (2022 est.) |
| Unemployment rate | |
| Unemployment rate 2024 | 2.6% (2024 est.) |
| Unemployment rate 2023 | 2.6% (2023 est.) |
| Unemployment rate 2022 | 2.6% (2022 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 3.9% (2024 est.) |
| Male | 4.2% (2024 est.) |
| Female | 3.7% (2024 est.) |
All Important Facts about Japan
Want to know more about Japan? Check all different factbooks for Japan below.
