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    Japan Economy - 2002
    http://www.greekorthodoxchurch.org/wfb2002/japan/japan_economy.html
    SOURCE: 2002 CIA WORLD FACTBOOK

      Economy - overview Government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) have helped Japan advance with extraordinary rapidity to the rank of second most technologically powerful economy in the world after the US and third largest economy in the world after the US and China. One notable characteristic of the economy is the working together of manufacturers, suppliers, and distributors in closely-knit groups called keiretsu. A second basic feature has been the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding. Industry, the most important sector of the economy, is heavily dependent on imported raw materials and fuels. The much smaller agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. Usually self-sufficient in rice, Japan must import about 50% of its requirements of other grain and fodder crops. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the global catch. For three decades overall real economic growth had been spectacular: a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s largely because of the aftereffects of overinvestment during the late 1980s and contractionary domestic policies intended to wring speculative excesses from the stock and real estate markets. Government efforts to revive economic growth have met with little success and were further hampered in 2000-01 by the slowing of the US and Asian economies. The crowding of habitable land area and the aging of the population are two major long-run problems. Robotics constitutes a key long-term economic strength, with Japan possessing 410,000 of the world's 720,000 "working robots".

      GDP purchasing power parity - $3.45 trillion (2001 est.)

      GDP - real growth rate -0.3% (2001 est.)

      GDP - per capita purchasing power parity - $27,200 (2001 est.)

      GDP - composition by sector
      agriculture: 2%
      industry: 36%
      services: 62% (2000 est.)

      Population below poverty line NA%

      Household income or consumption by percentage share
      lowest 10%: 4.8%
      highest 10%: 21.7% (1993)

      Distribution of family income - Gini index 24.9 (1993)

      Inflation rate (consumer prices) -0.6% (2001 est.)

      Labor force 67.7 million (December 2000)

      Labor force - by occupation services 65%, industry 30%, agriculture 5%

      Unemployment rate 4.9% (2001)

      Budget
      revenues: $441 billion
      expenditures: $718 billion, including capital expenditures (public works only) of about $84 billion (FY01/02 est.)

      Industries among world's largest and technologically advanced producers of motor vehicles, electronic equipment, machine tools, steel and nonferrous metals, ships, chemicals; textiles, processed foods

      Industrial production growth rate -8.3% (2001 est.)

      Electricity - production 1.015 trillion kWh (2000)

      Electricity - production by source
      fossil fuel: 60.69%
      hydro: 8.54%
      other: 1.82% (2000)
      nuclear: 28.95%

      Electricity - consumption 943.71 billion kWh (2000)

      Electricity - exports 0 kWh (2000)

      Electricity - imports 0 kWh (2000)

      Agriculture - products rice, sugar beets, vegetables, fruit; pork, poultry, dairy products, eggs; fish

      Exports $404.6 billion (f.o.b., 2001 est.)

      Exports - commodities motor vehicles, semiconductors, office machinery, chemicals

      Exports - partners US 29.7%, Taiwan 7.5%, South Korea 6.4%, China 6.3%, Hong Kong 5.7% (2000 est.)

      Imports $331.6 billion (f.o.b., 2001 est.)

      Imports - commodities fuels, foodstuffs, chemicals, textiles, office machinery

      Imports - partners US 19%, China 14.5%, South Korea 5.4%, Taiwan 4.7%, Indonesia 4.3%, Australia 3.9% (2000 est.)

      Debt - external $NA

      Economic aid - donor ODA, $9.1 billion (1999)

      Currency yen (JPY)

      Currency code JPY

      Exchange rates yen per US dollar - 132.66 (January 2002), 121.53 (2001), 107.77 (2000), 113.91 (1999), 130.91 (1998), 120.99 (1997)

      Fiscal year 1 April - 31 March

      NOTE: The information regarding Japan on this page is re-published from the 2002 World Fact Book of the United States Central Intelligence Agency. No claims are made regarding the accuracy of Japan Economy 2002 information contained here. All suggestions for corrections of any errors about Japan Economy 2002 should be addressed to the CIA.

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    Revised 30-Jan-03
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