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Economy of Japan

Japan is an island state of East Asia and it is situated in the Pacific Ocean. It shares the border with China, North Korea, South Korea and Russia on the Eastern region of the nation. Tokyo is the capital of the nation. Japan is the fifth largest economy of the world in terms of purchasing power parity (PPP) with an estimated GDP value of $4.729 trillion as of 2013. Subsequent to the World War II scenario, government managed to take control of monetary affairs by using the highest technology available at that particular time. This approach helped Japan to recover from the economic slump by linking manufacturers, suppliers, and distributors of that time. The agricultural sector of Japan is vastly backed and protected, with crop yields among highest when compared to the rest of the world. Japan is by far the world’s biggest and industrially advanced manufacturers of motor vehicles, electronic equipment, machine tools, steel and nonferrous metals. The fiscal year of Japan instigates from the 1 April and ends on 31 March. Some of their agricultural products that are grown in Japan include rice, sugar beets, daily products, fruits and vegetables.

Imports of Japan

Japan is the sixth largest importer of the world with an estimated import value of $766.6 billion as of 2013. The country believes to enforce least amount of restriction when it comes to imports and exports. The major import commodities of Japan include petroleum, liquid natural gases, apparel, semiconductors, coal and graphical apparatus. Countries like China, United States of America, Saudi Arabia, South Korea, and Qatar are the major import partners of Japan.

Exports of Japan

The export volume of Japan is increasing by leaps and bounds due to its firm economic condition. The estimated export value of Japan is $766.6 billion is as of 2013, which is the sixth largest when compared to the world. The main export commodities of Japan include petroleum, natural gas, apparel, semiconductors, coal and visual apparatus. The dominant export partners of Japan are China, United States of America, Saudi Arabia and South Korea.

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Capital
Tokyo
Dialing Code
+81
Fiscal Year
01 April - 31 March
Currency
Yen (JPY)
GDP
$4,329,000,000,000
Exports
$800.8 billion (2011 est.) | Motor Vehicles 13.6%; Semiconductors 6.2%; Iron And Steel Products 5.5%; Auto Parts 4.6%; Plastic Materials 3.5%; Power Generating Machinery 3.5% (2010 Est,)
Imports
$794.7 billion (2011 est.) | Petroleum 15.5%; Liquid Natural Gas 5.7%; Clothing 3.9%; Semiconductors 3.5%; Coal 3.5%; Audio And Visual Apparatus 2.7% (2010 Est.)
Industries
Among Worlds Largest And Technologically Advanced Producers Of Motor Vehicles, Electronic Equipment, Machine Tools, Steel And Nonferrous Metals, Ships, Chemicals, Textiles, Processed Foods