2018 and 2019, supported by exports, business investment and private consumption. Japan economy 2015 addition to buoyant international trade, firms facing labour shortages will increase business investment and employment.
Government debt relative to GDP is the highest ever recorded in the OECD area, which poses serious risks. Achieving fiscal sustainability requires a detailed consolidation programme that includes measures to control spending in the face of rapid ageing, and gradual hikes in the consumption tax rate, beginning with the planned increase in 2019. The digital economy now permeates countless aspects of the world economy, impacting sectors as varied as banking, retail, energy, transportation, education, publishing, media or health. This report assesses how countries can maximise the potential of the digital economy as a driver for innovation and inclusive growth, and discusses the evolutions in the digital economy that policy makers need to consider as well as the emerging challenges they need to address as a part of national digital strategies. Japan is the 5th largest importer and exporter in the world.
Like many of the other Asian countries that have experienced rapid economic growth in the past few decades, exports have had a historical significance to the Japanese economy. The belief in the need to promote exports is part of Japan’s self-image as a “processing nation. Today, Japan plays a competitive role in international trade, although it still maintains protectionist policies in numerous industries, particularly in agriculture. Japan is a member of multiple international trade organizations such as APEC, WTO, OECD, the G-8 and the G-20. According to former Japanese Prime Minister Taro Aso, countries move on to discuss higher-level issues in EPAs, such as “devising framework through which investment can take place in a secure manner, or developing a mechanism to ensure protection of intellectual property rights”. Read more about Japan’s economy, including industry information, featured analysis and trade statistics below.
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Japan has one of the largest and most prosperous economies in the world. Japan has had three distinct economic and political periods in its very long history. The first of these periods, called Edo, began in 1603, and ended in 1868 with the Meiji Restoration. The third period began after the defeat of Japan at the close of World War II in 1945 and extends to this day. Japan was an island nation rich in some resources but poor in others.
Volcanic activity brought many minerals to the surface long before large-scale mining became possible. As such, Japan became a major exporter of silver, copper, and gold until the isolationist government banned such exports. The nation enjoyed a highly sophisticated feudal society and densely packed urban areas. Early European visitors marveled at Japanese culture and craftsmanship.