National economy of Japan - industries, GDP and prosperity level

The Japanese economy today is among the five most developed economic structures in the world. But the Japan’s share of the global GDP is constantly decreasing. The financial system is going through a rough time. A significant contribution to the current economic state of the country was made in the post-war years, when the Japanese began to actively engage in the development of technology and skill, as well as their import. Thanks to the most powerful research base, Japan can independently export robotics, various electronics, automobiles, ships and aircraft, and so on. Any Japanese product is considered a priori of high quality. It was possible to achieve such sales at market thanks to incredibly cheap labor.

Today, the country’s GDP is formed more by the service sector. Industry accounts for about 25%, and agriculture less than 1.5%. The mineral reserves of Japanese lands are rather scarce. Deposits of limestone, sulfur and coal are developed here. In addition, minor gas production, oil, ore, mercury, gold, pyrite, chromium and other mining operations are conducted on the territory. Even though they are willing to develop their own mining industry, all the metallurgical, energy, and chemical plants are dependent on imported raw materials. The manufacturing industry in Japan is developed at the highest level. The country produces more than 52% of the global volume of all marine vessels. In addition, the country produces a lot of electrical appliances. Such companies as Pioneer, Toshiba, Sony, Kenwood Corporation, Canon, Sharp, Olympus and others are known around the world.

One of the main exports of Japan is automotive products. There are a lot of factories on the territory of the country that are engaged in the automotive industry. The largest brands are Suzuki, Mitsubishi, Toyota, Mazda, Nissan and Honda. The main branches of agriculture are plant growing and fishing. In terms of crop production, rice tops the chart. After all, rice as you know, is the national product of all Japanese. Thanks to specially developed technologies for planting rice, at the end of the last century, the Japanese achieved an incredible economic miracle. As a result, the incomes of the local population have increased significantly. Consequently, the demand for rice has also increased, although in the early 2000s, the amount of agricultural land decreased slightly. This resulted to an acute shortage of rice in some regions. Today, about 23% of the gross output of the rural population precisely profits from growing the national product. Copyright www.orangesmile.com

Fishery is developing in Japan due to its geographical location. That said, fish are not only actively exported, but also covers the domestic market. The demand by the way is quite large. Statistics show that the average Japanese eats at least 170 kilograms of fish per year. The fish of the tuna family, Atlantic mackerel, Pacific saury, salmonids and horse mackerel are exported. In addition, Japan buys a lot of seafood. This is mostly due to the fact that local fishing companies are allowed to catch sea products only within the territorial waters of the country.

The main energy resources in the country are of course oil. About 50% of all the energy produced in Japan comes from this resource. However, 97% of all oil used in the country is imported, mainly from Kuwait, Iran, Saudi Arabia and Qatar. But at the same time, the Japanese are conducting significant scientific work in the field of obtaining alternative energy sources, for example, bioethanol. It is worth noting that Japan has built a fairly effective strategy for the continuous development of economic indicators. This is primarily connected with the goal of raising the level of industry and the standard of living within the country.

Today, about 45% of all functioning industries in Japan work with the help of industrial robots, which are also manufactured domestically. In Japan, there is some industrial equipment, which has no analogies in the contemporary world. Due to this, the country can receive significant privileges in the market. At the same time, the Japanese are ready to share their relatively new inventions in the field of industrial robots and annually sell at least 70,000 of these machines to other countries of the world. The unemployment rate today is approaching 5%, while in the early 90’s it was less than 3%. External debt is about 31,000 billion dollars. Inflation is about 2%, and GDP growth according to last year’s data was 2%.