Third largest economy in the world, Japan had a GDP worth 5082 billion US dollars in 2019, a value that represented 4.22% of the world economy. The country is also a high-tech powerhouse economy in Asia: in fiscal year 2018, the expenditures on research and development (R&D) in Japan reached approximately 19.5 trillion Japanese yen, equating 3.6% of the country's GDP. Exports are an important growth driver of Japan, the external demand accounting for 18.5% of its total GDP in 2018.
According to the OECD, due to decelerating worldwide trade and weaker exports, Japan's output growth has slowed down in 2017 but continued at a moderate pace throughout 2018 and 2019. Overall, Japan's economic expansion has accelerated since 2012, supported by the "Abenomics" policy. However, the exact impact of the COVID-19 crisis on Japan's economic growth remains to be assessed.
> 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).
No less than 300 web pages with up-to-date information on Japan, more than 170 reports available as well as a lot of detailed information on the Japanese business culture.