Japan - Economy
How is the economy of Japan? Based on the information we have, Japan has a fourth-largest economy; trade-oriented and highly diversified; high public debt levels; real wage declines in inflationary environment; sustained near-zero central bank rates coupled with depreciation of yen; strong rebound in tourism. Key agricultural products in this country include: rice, milk, sugar beets, vegetables, eggs, chicken, potatoes, cabbages, sugarcane, pork (2022).
More about the economy of Japan
| Labor force | 69.349 million (2023 est.) |
|---|---|
| Industrial production growth rate | -1.25% (2022 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 | 35.2% (of GDP) (2017 est.) |
| Fiscal year | |
| Exchange rates | |
| Currency | yen (JPY) per US dollar - |
| 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.) |
| Exchange rates 2019 | 109.01 (2019 est.) |
| Reserves of foreign exchange and gold | |
| Reserves of foreign exchange and gold 2023 | $1.295 trillion (2023 est.) |
| Reserves of foreign exchange and gold 2022 | $1.228 trillion (2022 est.) |
| Reserves of foreign exchange and gold 2021 | $1.406 trillion (2021 est.) |
| Current account balance | |
| Current account balance 2023 | $150.691 billion (2023 est.) |
| Current account balance 2022 | $90.277 billion (2022 est.) |
| Current account balance 2021 | $196.525 billion (2021 est.) |
| Public debt | |
| Public debt 2022 | 216.21% of GDP (2022 est.) |
| Budget | |
| Revenues | $661.986 billion (2022 est.) |
| Expenditures | $892.184 billion (2022 est.) |
| Budget surplus (+) or deficit (-) | |
| Remittances | |
| Remittances 2023 | 0.13% of GDP (2023 est.) |
| Remittances 2022 | 0.13% of GDP (2022 est.) |
| Remittances 2021 | 0.11% of GDP (2021 est.) |
| Average household expenditures | |
| On food | 16.3% of household expenditures (2022 est.) |
| On alcohol and tobacco | 2.7% of household expenditures (2022 est.) |
| Imports | |
| Imports 2023 | $989.843 billion (2023 est.) |
| Imports 2022 | $1.081 trillion (2022 est.) |
| Imports 2021 | $942.45 billion (2021 est.) |
| Imports (partners) | China 22%, Australia 10%, US 10%, UAE 5%, Saudi Arabia 4% (2022) |
| Comodities Imports force | crude petroleum, natural gas, coal, integrated circuits, garments (2022) |
| Exports | |
| Imports 2023 | $989.843 billion (2023 est.) |
| Imports 2022 | $1.081 trillion (2022 est.) |
| Imports 2021 | $942.45 billion (2021 est.) |
| Exports (partners) | US 19%, China 19%, South Korea 7%, Taiwan 7%, Thailand 4% (2022) |
| Comodities Exports force | cars, machinery, integrated circuits, vehicle parts/accessories, refined petroleum (2022) |
| Real GDP (purchasing power parity) | |
| Real GDP (purchasing power parity) 2023 | $5.761 trillion (2023 est.) |
| Real GDP (purchasing power parity) 2022 | $5.652 trillion (2022 est.) |
| Real GDP (purchasing power parity) 2021 | $5.599 trillion (2021 est.) |
| GDP (official exchange rate) | $4.213 trillion (2023 est.) |
| Real GDP Per capita | |
| Real GDP per capita 2023 | $46,300 (2023 est.) |
| Real GDP per capita 2022 | $45,200 (2022 est.) |
| Real GDP per capita 2021 | $44,500 (2021 est.) |
| GDP - composition, by sector of origin | |
| Agriculture | 1% (2022 est.) |
| Industry | 26.9% (2022 est.) |
| Services | 71.4% (2022 est.) |
| GDP - composition, by end use | |
| Household consumption | 55.6% (2022 est.) |
| Government consumption | 21.6% (2022 est.) |
| Investment in fixed capital | 26% (2022 est.) |
| Investment in inventories | 0.6% (2022 est.) |
| Exports of goods and services | 21.5% (2022 est.) |
| Imports of goods and services | -25.3% (2022 est.) |
| Unemployment rate | |
| Unemployment rate 2023 | 2.58% (2023 est.) |
| Unemployment rate 2022 | 2.6% (2022 est.) |
| Unemployment rate 2021 | 2.83% (2021 est.) |
| Youth unemployment rate (ages 15-24) | |
| Total | 4.1% (2023 est.) |
| Male | 4.5% (2023 est.) |
| Female | 3.7% (2023 est.) |
All Important Facts about Japan
Want to know more about Japan? Check all different factbooks for Japan below.
