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National debt of Japan. Japan national debt to GDP. As of March 2023, the Japanese public debt is estimated to be approximately 9.2 trillion US dollars (1.30 quadrillion yen), or 263% of GDP, [1] and is one of the highest among developed nations. [2][3][4][5] 43.3% of this debt is held by the Bank of Japan. [6]
[1]: 81 A debt instrument is a financial claim that requires payment of interest and/or principal by the debtor to the creditor in the future. Examples include debt securities (such as bonds and bills), loans, and government employee pension obligations. [1]: 207 Net debt equals gross debt minus financial assets that are debt instruments.
It became the second largest economy in the world in 1968 and remained so until 2010, [26] and on a nominal per capita basis, the most high-income among the G7 countries in the 1980s and 1990s. [44] In 1995, Japan’s share of the world’s nominal GDP was 17.8%, reaching approximately 71% of that of the United States.
In 2011 Japan's public debt was about 230 percent of its annual gross domestic product, the largest percentage of any nation in the world. [1] In order to address the Japanese budget gap and growing national debt, in June 2012 the Japanese Diet passed a bill to double the national consumption tax to 10%. [2]
This is a list of countries by external debt: it is the total public and private debt owed to nonresidents repayable in internationally accepted currencies, goods or services, where the public debt is the money or credit owed by any level of government, from central to local, and the private debt the money or credit owed by private households or private corporations based on the country under ...
The global economic recession of the late 2000s significantly harmed the economy of Japan. The nation suffered a 0.7% loss in real GDP in 2008 followed by a severe 5.2% loss in 2009. In contrast, the data for world real GDP growth was a 3.1% hike in 2008 followed by a 0.7% loss in 2009. [129]
Heatmap of the development of debt-to-GDP ratio for some European countries, in percent of GDP from 1995 to 2017. In economics, the debt-to-GDP ratio is the ratio between a country's government debt (measured in units of currency) and its gross domestic product (GDP) (measured in units of currency per year).
Japan has the highest ratio of public debt to GDP among advanced economies, [169] with a national debt estimated at 248% relative to GDP as of 2022. [170] The Japanese yen is the world's third-largest reserve currency after the US dollar and the euro. [171] Japan was the world's fifth-largest exporter and fourth-largest importer in 2022.