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— Latest update: April 2022 —
Third largest economy in the world, Japan had a GDP worth 539,071.6 billion JPY in 2020.
The country is also a high-tech powerhouse economy in Asia: in the fiscal year 2020, the expenditures on research and development (R&D) in Japan equated to 3.59% of the country's GDP. Exports are an important growth driver of Japan, the external demand accounting for 15.53% of its total GDP in 2020.
Ministry of foreign affairs of Japan – Japanese Economy
Statistic Bureau, Survey of Research and Development, Summary of Results, 2021
World Bank, Exports of Goods and Services (% of GDP) – Japan
Due to the COVID-19 pandemic, the economy actively tumbled in 2020, with a governmental debt reaching unprecedented highs, followed by a partial bounce back in 2021, despite some remaining difficulties. A new economic package has been established, and while its effects are still to be determined, the projected result is a spur of the economy in the short run and a support of the long-term growth.
OECD, Japan – Economic survey, economic forecast, December 2021
> For an economic overview of each of the 47 prefectures of Japan, please see our dedicated Regions and Prefectures page.
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The EU-Japan Centre currently produces 5 newsletters :
Joint venture established in 1987 by the European Commission (DG GROW) and the Japanese Government (METI) for promoting all forms of industrial, trade and investment cooperation between the EU and Japan.
