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The economy of Japan is a highly developed mixed economy, often referred to as an East Asian model. [24] It is the fourth-largest economy in the world by nominal GDP behind the United States , China , and Germany , and the fifth-largest by purchasing power parity (PPP), below India and Russia but ahead of Germany. [ 25 ]
Although the Japanese economic miracle has already ended in the 1980s, the years of 2011 to 2012 saw the peak of the Japanese economy, exceeding over 6 trillion dollars in USD. [132] In December 2018, a free trade agreement between Japan and the European Union was cleared to commence in February 2019.
After its defeat and economic collapse after the war, Japan's economy recovered in the 1950s with the post-war economic miracle in which ushered in three decades of unprecedented growth and propelled the country into the world's second-largest economy by the 1980s only to experience an economic slowdown during the 1990s, but Japan nonetheless ...
Japan’s economy grew much faster than expected in the April to June months, as brisk auto exports and tourist arrivals helped offset the drag from a slowing post-Covid consumer recovery ...
Japan revised its earlier estimates to show that its economy contracted at a 2.9% annual pace in the first quarter of the year, as meanwhile a survey by the central bank released Monday showed ...
Japan's membership in the OECD has constrained its foreign economic policy to some extent. When Japan joined the OECD in 1966, it was obliged to agree to OECD principles on capital liberalization, an obligation that led Japan to begin the process of liberalizing its many tight controls on investment flows into and out of Japan. Japan is also a ...
For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.
The Income Doubling Plan (所得倍増計画, Shotoku Baizō Keikaku) was a long-term economic development plan initiated by Japanese prime minister Hayato Ikeda in the fall of 1960. [1] The plan called for doubling the size of Japan's economy in ten years through a combination of tax breaks, targeted investment, an expanded social safety net ...