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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 ]
The period of rapid economic growth between 1955 and 1961 paved the way for the Golden Sixties, the second decade that is generally associated with the Japanese economic miracle. In 1965, Japan's nominal GDP was estimated at just over $91 billion. Fifteen years later, in 1980, the nominal GDP had soared to a record $1.065 trillion. [citation ...
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. [131]
From the late nineteenth century to the end of the 1980s, Japan was the dominant economic power in East Asia. In the late 1980s and early 1990s, Japan's GDP was large as the rest of Asia combined. [46] Japan's early industrial economy reached its height in World War II when it expanded its
Japan has the world's fourth-largest economy by nominal GDP, after that of the United States, China and Germany; and the fifth-largest economy by PPP-adjusted GDP. [169] As of 2021 [update] , Japan's labor force is the world's eighth-largest , consisting of over 68.6 million workers. [ 83 ]
The figures are from the International Monetary Fund (IMF) World Economic Outlook Database, unless otherwise specified. [1] This list is not to be confused with the list of countries by real GDP per capita growth, which is the percentage change of GDP per person taking into account the changing population of the country.
After 1950 Japan's economy recovered from the war damage and began to boom, with the fastest growth rates in the world. [24] Given a boost by the Korean War, in which it acted as a major supplier to the UN force, Japan's economy embarked on a prolonged period of extremely rapid growth, led by the manufacturing sectors. Japan emerged as a ...
These figures have been taken from the International Monetary Fund's World Economic Outlook (WEO) Database (October 2024 edition) and/or other sources. [1] For older GDP trends, see List of regions by past GDP (PPP).