The statistic shows the gross domestic product (GDP) in Japan from 2008 to 2013, with projections up until 2018. In 2012, the gross domestic product of Japan amounted to around six trillion U.S. dollars.
Gross domestic product of Japan
Japan ranks second in the world in gross domestic product (GDP) per capita, has one of the lowest inflation rates, and ranks among the top three countries in terms of the largest overall GDP. This economic powerhouse has managed to maintain control of its inflation rate, keeping it below three percent since at least 2004. Despite the worldwide recession in 2008 and 2009 and a dip in the growth rate of the GDP, Japan managed to maintain positive growth in the GDP itself.
Japan is disadvantaged, however, when it comes to natural resources. A large amount of the landmass of Japan is human-occupied, leaving little in terms of husbandry or agriculture. It has become a highly urbanized country and employs very little of its workforce in agriculture, choosing instead to focus on its services sector.
The population of Japan is aging, providing a rocky economic forecast for years ahead. As the baby boomer generation starts to retire, they will leave more job openings than there will be workers to fill them. The government will have to work to provide retirement pensions for a growing amount of people, although if current trends persevere, there will be fewer people left paying taxes to fund the pensions.