Japan has the third largest GDP in the world according to statics of IMF.
Its GDP is $4.616 trillion.
Japan’s population of 127.3 million makes it the 11th among the most populated countries of the world. The GDP growth is 2.3 % nominal and 1% real. Agriculture accounts for 1.2% of the GDP, industry accounts for 27.5% and services is the major contributor with 71.4% contribution. Japan has the 4th largest purchasing power parity in the world and is the world’s second largest developed economy. Japan is also a member of the G7. Japan is not very well endowed with natural resources. It is the third largest importer of agricultural resources. Its exports mainly include research and development intensive industrial products, automotive etc. This provides Japan its comparative advantage. Service sector accounts for 3/4th of Japan’s GDP. The service sector provides services like real estate, banking, insurance, telecom, transport and retailing. Major Japanese companies are Mitsubishi, NTT, Nomura, Softbank, Japan Airlines. 60 out of Fortune 500 companies are present in Japan. Japan is primarily a creditor nation and the largest in the world in terms of international investment surplus. It also runs an annual trade surplus. As of 2010, Japan owns 13.7% of the world's private financial assets (second biggest in the world) at an estimated value of $14.6 trillion. The size of the labour force in 2011 was estimated to be 65.93 million. Unemployment rate is at 3.4 %. 70% of the labour force is employed in services sector. The drawback of this economy is the ageing population of Japan