Japan Economic information

Japan is one of the largest economies in the world. It is known for its advanced industrial manufacturing and high-tech sectors. It also plays an important role in fields such as automotive, electronics, telecommunications, finance, pharmaceuticals and tourism. Japan's Gross Domestic Product (GDP) is estimated at approximately $

5.1 trillion in 2020. This means it has the third largest GDP among countries worldwide. Japan, which has an export-based economy, is an important player worldwide, especially in the automotive, electronics and machinery sectors. Japan's largest export markets are China, the USA and South Korea. On the other hand, Japan imports many raw materials, which makes the security of resources such as energy and food important. Japan's unemployment rate is generally low and is estimated at

2.8% in 2020. However, fluctuations in economic growth and unemployment rates may occur. Japan's inflation rate is low and is estimated at 0.4% in 2020. The Central Bank adopts a low inflation targeting policy to ensure price stability. Japan is a country with high public debt. The public debt/GDP ratio is estimated to be approximately 238% in 2020. This is one of the highest public debt ratios globally. Finally, Japan's economy was negatively affected in 2020 due to the COVID-19 pandemic. Factors such as business closures, supply chain disruptions and a decline in tourism have negatively affected economic growth. However, the Japanese government is implementing stimulus packages and policy measures to support the economy.