Economy
The economy of Japan is the 3rd largest in the world by nominal GDP, and 4th largest by purchasing power parity. Japan has the worlds second largest developed economy. Japans currency is the Japanese Yen, and the population below poverty line is 16% with unemployment at 3.4%. The labor force is 70% services, 26% industry, and 4% agriculture.
Japan's HDI rank is 17 and it is 0.89, and its GNI is 4.812 trillion PPP dollars as of 2013. Japan used to be a leading producer of copper, but its mines have been depleted and some are now closed. Iron, lead, zinc, bauxite and other ores are very minor. Japan is heavily forested so lumber, and paper are major products, but some forests have been excessively logged and have caused environment problems. Fish and marine foods are in abundance and account for a large amount of the diets in Japan. However the demand for fish is very high, so Japan still relies on imports from other places. Japan has a large hydroelectric industry. |
Major car companies in Japan: Toyota, Honda, Suzuki, Nissan, Subaru, Mazda, and Mitsubishi. Japan is known for their motor vehicle industry.
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Japan is the 5th largest importer in the world and is the worlds largest importer on coal and natural gas because Japan has almost no fossil fuel resources. Japan is also the second largest importer of oil .Major export goods include motor vehicles, semiconductors, iron and steel products, auto parts, plastic materials, and power generating machinery. Japans main export partners are China, U.S., South Korea, and Thailand. Japans primary imports are petroleum, natural gas, clothing, coal, and audio or visual apparatus. Major import partners include China, U.S., Australia, Saudi Arabia, UAE, and South Korea.
Japan's largest companies are Mitsubishi UFJ Financial, Toyota Motor, Nippon Telegraph and Tel, Nissan Motor, Umitomo, Mitsui Financial, Mizuho Financial, Honda Motor, Mitsubishi Corp, Canon, Toshiba, and Bridgestone. |