Economy of Japan
The economy of Japan is the third-largest in the world by nominal GDP and the fourth-largest by purchasing power parity(PPP) and is the world's second largest developed economy. According to the International Monetary Fund, the country's per capita GDP (PPP) was at $37,519, the 28th highest in 2014, down from the 22nd position in 2012. Japan is a member of the G7. The Japanese economy is forecasted by the Quarterly Tankan survey of business sentiment conducted by the Bank of Japan. Nikkei 225 presents the monthly report of top Blue chip (stock market) equities on Japan Exchange Group. Due to a volatile currency exchange rate, Japan's GDP as measured in dollars fluctuates widely. Accounting for these fluctuations through use of the Atlas method, Japan is estimated to have a GDP per capita of around $38,490.
Japan is the world's third largest automobile manufacturing country, has the largest electronics goods industry, and is often ranked among the world's most innovative countries leading several measures of global patent filings. Facing increasing competition from China and South Korea, manufacturing in Japan today now focuses primarily on high-tech and precision goods, such as optical instruments, hybrid vehicles, and robotics. Besides the Kanto region, the Kansai region is one of the leading industrial clusters and manufacturing centers for the Japanese economy.
Japan is the world's largest creditor nation as well as having the highest debt per GDP. Japan generally runs an annual trade surplus and has a considerable net international investment surplus. As of 2010, Japan possesses 13.7% of the world's private financial assets (the third largest in the world) at an estimated $13.5 trillion. As of 2015, 54 of the Fortune Global 500 companies are based in Japan, down from 62 in 2013. SectorsAgriculture
The Japanese agricultural sector accounts for about 1.4% of the total country's GDP. Only 12% of Japan's land is suitable for cultivation. Fishery
In 2010, Japan's total fisheries production was 4,762,469 fish. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. Industry
Japanese manufacturing and industry is very diversified, with a variety of advanced industries that are highly successful. Industry accounts for 24% of the nation's GDP. Automobile manufacturing
Japan is the third biggest producer of automobiles in the world. Toyota is currently the world largest car maker, and the Japanese car makers Nissan, Honda, Suzuki, and Mazda also count for some of the largest car makers in the world. Services
Japan's service sector accounts for about three-quarters of its total economic output. Tourism
In 2013, due to the weaker yen and easier visa requirements for southwest Asian countries, Japan received a record 11.25 million visitors, which was higher than the government's projected goal of 10 million visitors. The government hopes to attract 20 million visitors a year by the 2020 Summer Olympics in Tokyo.
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