Economic Overview - Japan is the world's 4th largest economy with a GDP of approximately $4.1 trillion in 2023, having been surpassed by Germany[6][8] - The service sector dominates the economy, contributing 71.4% to GDP, while industrial output accounts for 26.9%[9][11] - Private consumption is the main driver of economic growth, making up 55.6% of GDP in 2022[11] Government and Monetary Policy - The Japanese government has increased its leverage to stimulate the economy, with government spending rising from 13.4% of GDP in 1991 to 21.6% in 2022[11] - Japan's government debt has escalated to 252.4% of GDP in 2023, reflecting ongoing fiscal challenges[11] - The Bank of Japan is expected to raise interest rates once in 2024, with potential increases in July if consumer spending improves[1] Trade and Investment - Japan's exports are primarily in transportation equipment and machinery, with transportation equipment alone accounting for 23.4% of total exports in 2023[37] - Japan's trade deficit narrowed to ¥9.3 trillion in 2023, with total exports at ¥100.9 trillion and imports at ¥110.2 trillion[33] - Foreign direct investment in Japan reached ¥46.2 trillion by the end of 2022, with equity investments being the largest component[44] Challenges and Future Outlook - Japan faces long-term challenges such as an aging population, with 29.9% of the population aged 65 and older in 2022[24] - The government is actively seeking to attract foreign labor to address workforce shortages, implementing various visa programs[25] - Economic growth is projected to recover moderately at around 1% in 2024, down from 1.9% in 2023[1]
“樱花之国”日本概览、动态及展望
Gong Shang Yin Hang·2024-05-23 13:30