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The Japanese Economy

In: Japan’s Trade Frictions

Author

Listed:
  • Ali M. El-Agraa

    (University of Leeds
    International University of Japan)

Abstract

Japan comes second in the league of national economies. In the early 1960s, its GNP was only 5 per cent of that of the USA, but by 1965 it had reached just over 13 per cent. In 1970 it amounted to about 20 per cent and in 1982 it reached over 35 per cent (see Table 2.1) before dropping slightly to 32.5 per cent in 1983. Japan has a growth rate which, after the two oil crises, has continued to be higher than the average for the OECD. However, the real rate of growth of GNP was a modest 3.3 per cent in 1982 and 3.4 per cent in 1983, but the average for 1980–85 was 3.9 per cent. To the casual observer, the driving force for the economy seems to be mainly export growth rather than domestic demand; the latter is usually the case within the rest of the OECD. Japan’s domestic demand registered growth rates of 2.1, 2.8, 1.8,3.8 and 3.7 per cent respectively for the years from 1981 to 1985. (See Table 2.2 for trends in the major indicators of the Japanese economy.)

Suggested Citation

  • Ali M. El-Agraa, 1988. "The Japanese Economy," Palgrave Macmillan Books, in: Japan’s Trade Frictions, chapter 2, pages 8-61, Palgrave Macmillan.
    • Handle: RePEc:pal:palchp:978-1-349-10059-0_2
    DOI: 10.1007/978-1-349-10059-0_2
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