— 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.
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.
> For an economic overview of each of the 47 prefectures of Japan, please see our dedicated Regions and Prefectures page.
What should you know before, during and after import clearance at Japan Customs? Various EU products and services began to enjoy benefits from the EU-Japan Economic Partnership Agreement (EPA) which
This website and related activities are managed by the EU-Japan Centre for Industrial Cooperation, a joint venture between the European Commission's Directorate-General for Internal Market, Industry, Entrepreneurship and SMEs (DG GROW) and the Japanese Government's Ministry of Economy, Trade & Industry (METI).
Hundreds of web pages with up-to-date information on Japan, more than 400 market reports and recorded webinars available as well as a lot of detailed information on Japanese business culture.