1) Japan has a $4.17 trillion economy focused on manufacturing, particularly motor vehicles, electronics, and machinery.
2) Japan experienced rapid economic growth following World War 2, becoming the world's second largest economy by the late 1970s through the 1980s due to high growth rates of 5-10% annually.
3) While Japan's economy has slowed in recent decades, manufacturing remains the primary economic sector, accounting for around 20% of GDP.
2. Contents
Overview of Japanese Economy
Economic History
Timeline of Economic Development
Sectors of the Economy
Other Economic Indicator
Conclusion
3. Overview of Japanese Economy
Currency: Japanese yen (JPY)
GDP: $4.17 trillion (nominal; 2016)
GDP by sector: agriculture: 1.2%, industry: 27.5%, services: 71.4% (2012 est.)
Population below poverty line: 16% (2010)
Labor force: 65.93 million (2011 est.)
Unemployment: 3.4% (2015 est.)``
Main industries:
Motor vehicles, Electronic equipment, Machine tools, Steel and nonferrous metals, Ships,
Chemicals, Textiles, Processed foods.
Exports: $697 billion (2013 est.)
Imports: $766.6 billion (2013 est.)
Foreign reserves: US$1.264 trillion (Sep 2014)
4. 1. Emperor’s Rule
Hunting &
gathering
Clan
fight
Taika
reform
Jinshin War 671
NARA
Centralization
HEIAN
Nobles,
Decentralization
KAMAKURA
MUROMACHI
SENGGOKU
Internal
wars,
dynamic
& fluid
society
2. Samurai’s Rule
EDO
Tokugawa
Shogunate
Peace,
isolation,
conservative
class society
MEIJI
Westernization,
industrialization,
Militarization
3. Modernization 4. Post War
WAR
(1937-45)
Rapid
recovery
and
growth
XXXX XXXX XXXX
Rice
Buddhism
Chinese culture &
political System
WEST: guns &
Christianity
WEST!!! US occupation
(1945-52)
X
(1868)
1603
Economic History
645
(1185-1333)
(8th & 9th
century)
(710-794)
(1868-1912)
(794-1185)
(1336-1573)
Emperor
kotoku
Emperor
Genmai
5. Timeline of Economic Development
Year Key Events
1904 Japan becomes first Asian country in modern times to defeat a European power when it routs Russia
in Manchuria.
1936 Japan signs alliance with Nazi Germany
1941 Japan launches a surprise attack on US Pacific fleet at Pearl Harbor, Hawaii. US and main allies declare
war on Japan
1945 US planes drop two atomic bombs on Hiroshima and Nagasaki in August.
1956 Japan joins United Nations.
1964 Olympic Games held in Tokyo.
1982 Japanese car firm Honda opens its first plant in the US.
2011 Japan is overtaken by China as world's second-largest economy.
2012 Former prime minister Shinzo Abe forms government on pledge of stimulating economic growth.
2015 Japan restarts first nuclear reactor at Sendai plant, under new safety rules following 2011 Fukushima
disaster.
2015 Economy re-emerges from recession in last quarter of 2014, although growth remains sluggish.
6. Sectors of the Economy
Different Sectors GDP Composition in Japanese Economy:
23.5, 24%
18, 19%
13.2, 14%
12.5, 13%
6.8, 7%
6.2, 6%
6.2, 6%
5.8, 6%
3.4, 4%0.7, 1%0.05, 0%
% OF TOTAL GDP
Other service activities
Manufacturing
Real Estate
Wholesale and retail trade
Transport and communication
Public administration
Construction
Finance and insurance
Electricity, gas and water supply
Government service activities
Mining
Industry
GDP value-
added $ billions
2012
% of total GDP
Other service
activities
1,238 23.5%
Manufacturing 947 18.0%
Real Estate 697 13.2%
Wholesale and
retail trade
660 12.5%
Transport and co
mmunication
358 6.8%
Public
administration
329 6.2%
Construction 327 6.2%
Finance and
insurance
306 5.8%
Electricity, gas a
nd water supply
179 3.4%
Government
service activities
41 0.7%
Mining 3 0.05%
Total 5,268 100%
7. Other Economic Indicator
Net international investment position:
266,223 billion (1st)
Industrial Production Growth Rate: 7.5% (2010 est.)
Investment (gross fixed): 20.3% of GDP (2010 est.)
Household income or consumption by percentage share:
Lowest : 4.8%
Highest : 21.7%
Agriculture – Products: rice, sugar beets, vegetables, fruit, pork, poultry, dairy products, eggs, fish
Exports – Commodities: machinery and equipment, motor vehicles, semiconductors, chemicals
Imports – Commodities: machinery and equipment, fuels, foodstuffs, chemicals, textiles, raw materials
Exchange rates:
Japanese Yen per US$1 – 88.67 (2015), 93.57 (2014), 103.58 (2013), 117.99(2012), 116.18 (2011).
8. Electricity:
Electricity – consumption: 925.5 billion kWh
Electricity – production: 957.9 billion kWh
Electricity – exports: 0 kWh
Electricity – imports: 0 kWh
Electricity – Production by source:
Fossil Fuel: 69.7%
Hydro: 7.3%
Nuclear: 22.5%
Other: 0.5%
Oil:
production: 132,700 bbl/d (21,100 m3/d) (2009)
consumption: 4,363,000 bbl/d (693,700 m3/d) (2009)
exports: 380,900 barrels per day (60,560 m3/d) (2008)
imports: 5,033,000 barrels per day (800,200 m3/d) (2008)
net imports: 4,620,000 barrels per day (735,000 m3/d) (2008 est.)
proved reserves: 44,120,000 bbl (7,015,000 m3) (1 January 2010 est.)
Other Economic Indicator
9. Conclusion
In the three decades of economic development following 1960, Japan ignored
defense spending in favor of economic growth, thus allowing for a rapid
economic growth referred to as the Japanese post-war economic miracle. By the
guidance of Ministry of Economy, Trade and Industry, with average growth rates
of 10% in the 1960s, 5% in the 1970s, and 4% in the 1980s, Japan was able to
establish and maintain itself as the world's second largest economy from 1978
until 2010, when it was surpassed by the People's Republic of China. By 1990,
income per capita in Japan equaled or surpassed that in most countries in the
West.
