Japan is a member of the G7 and maintains the world’s 2nd largest developed economy. The country has a highly developed and market-oriented economy. Japan is the 3rd largest in the world with nominal GDP and 4th largest as PPP (Purchasing Power Parity). The IMF (International Monetary Fund) has indicated its per capita GDP for 2016 at $38,938.
The GDP of Japan widely fluctuates as measured in U.S dollars because of its volatile currency exchange rate. The country has a GDP per capita about $38,492 with measuring of fluctuation using Atlas method. The Bank of Japan conducted a survey of business sentiment and forecasted using Quarterly Tankan survey.
Recent Analysis & Growth
The economy of Japan will get some boost with the 2020 Olympics. It will keep the investment flow stronger because the Bank of Japan is backing a lax monetary policy. The nominal GDP of Japan is now at $4.87 trillion and it is expected to reach more than $5.16 trillion at the end of 2018. Japan moved to the 4th place after measuring GDP in terms of PPP. The GDP (PPP) of the country was $5.42 billion in 2017 because its GDP per capita was estimated at $38,439.53.
Now, Japan is the 3rd largest automobile manufacturing country in the world. The country has the largest electronics goods and appliances industry. It is one of the several innovative countries in the world leading various global brands. The Kantō region is one of the top manufacturing centers and industrial collections participating in the economy of Japan.
The country has focused primarily manufacturing on high-tech goods following the increasing competition from South Korea and China. So, Japan is providing various top class products, including hybrid vehicles, robotics, and optical instruments.
The industrial structure sizes of Japanese cities have sustained strict regularities, in spite of extensive mixing up of population and industries across cities in Japan. The country has a significant amount of net international investment surplus and the largest creditor nation in the world.
