Japan



About Japan

Japan is the third largest national economy in the world, after the United States and China, in terms of nominal GDP, and the fourth largest national economy in the world, after the United States, China and India, in terms of purchasing power parity. Japan’s GDP as on 2016 is 4.939 trillion USD and is expected to expand between 1.5 % to 1.8% by the end of March 2018. Japan ranks 27th of 189 countries in the 2014 Ease of doing business index and has one of the smallest tax revenues of the developed world.

Japan has approximately 1,215,000 kilometer of roads. There are 175 airports in Japan; the largest domestic airport, Tokyo International Airport, is Asia's second-busiest airport. Japan has a large industrial capacity, and is home to some of the largest and most technologically advanced producers of motor vehicles, electronics, machine tools, steel and nonferrous metals, ships, chemical substances, textiles, and processed foods. Some major Japanese industrial companies include Toyota, Canon Inc., Toshiba and Nippon Steel. Japan's main imports are machinery and equipment, fossil fuels, foodstuffs, chemicals, textiles and raw materials for its industries.  Japan is the second-largest agricultural product importer in the world. Japan is the third largest automobile producer in the world, and is home to Toyota, the world's largest automobile company. The Japanese electronics and automotive manufacturing industry is well known throughout the world and having a plan for the next 5 years for domestic vehicle sale and production of amount 6 million and 10 million.

Resilient global growth and improving domestic demand are propping up Japan’s economy in coming years. Japan has become increasingly integrated in global value chains, especially in Asia.