OECD Economic Surveys: Japan 2021

Abstract

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.

The economic situation and policies of Japan were reviewed by the Committee on 8 and 9 September 2021. The draft report was then revised in light of the discussions and given final approval as the agreed report of the whole Committee on 15 October 2021.

The Secretariat’s draft report was prepared for the Committee by Douglas Sutherland, Kei Oguro and Patrizio Sicari, under the supervision of Vincent Koen. Research assistance was provided by Natia Mosiashvili, and editorial support by Sisse Nielsen and Gemma Martinez.

The previous Survey of Japan was issued in April 2019.

Information about the latest as well as previous Surveys and more details about how Surveys are prepared is available at www.oecd.org/eco/surveys

(Basic statistics of Japan, 2020)**

LAND, PEOPLE AND ELECTORAL CYCLE
Population (million)	126.3		Population density per km² (2018)	346.4	(38.4)
Under 15 (%)	12.6	(17.9)	Life expectancy at birth (years)	84.4	(80.2)
Over 65 (%)	28.0	(17.1)	Men	81.4	(77.6)
International migrant stock (% of population)	2.0	(13.2)	Women	87.4	(82.9)
Latest 5-year average growth (%)	-0.2	(0.6)	Latest general election	October 2021
ECONOMY
Gross domestic product (GDP)			Value added shares (%, 2018, OECD: 2019)
In current prices (billion USD)	5 134.4		Agriculture, forestry and fishing	1.2	(2.7)
In current prices (trillion YEN)	559.8		Industry including construction	29.2	(26.6)
Latest 5-year average real growth (%)	0.9	(2.2)	Services	69.6	(70.6)
Per capita (000 USD PPP)	42.8	(47.6)
GENERAL GOVERNMENT (Per cent of GDP)
Expenditure	38.2	(40.6)	Gross financial debt	223.0	(108.9)
Revenue	35.3	(37.5)	Net financial debt	123.4	(67.9)
EXTERNAL ACCOUNTS
Exchange rate (YEN per USD)	109.03		Main exports (% of total merchandise exports)
PPP exchange rate (USA = 1)	103.63		Machinery and transport equipment	58.2
In per cent of GDP			Chemicals and related products, n.e.s.	11.2
Exports of goods and services	17.4	(53.6)	Manufactured goods	11.0
Imports of goods and services	17.7	(50.0)	Main imports (% of total merchandise imports)
Current account balance	3.4	(0.3)	Machinery and transport equipment	28.2
Net international investment position	65.1		Mineral fuels, lubricants and related materials	21.3
			Miscellaneous manufactured articles	14.0
LABOUR MARKET, SKILLS AND INNOVATION
Employment rate (aged 15 and over, %)	60.7	(57.5)	Unemployment rate, Labour Force Survey (aged 15 and over, %)	2.4	(5.4)
Men	69.7	(65.6)	Youth (aged 15-24, %)	3.8	(11.8)
Women	52.2	(49.9)	Long-term unemployed (1 year and over, %)	0.8	(1.3)
Participation rate (aged 15 and over, %)	62.0	(60.9)	Tertiary educational attainment (aged 25-64, %)	52.7	(38.0)
Average hours worked per year	1,644	(1,743)	Gross domestic expenditure on R&D (% of GDP, 2018)	3.3	(2.6)
ENVIRONMENT
Total primary energy supply per capita (toe)	3.3	(3.9)	CO2 emissions from fuel combustion per capita (tonnes)	8.4	( 8.3)
Renewables (%)	6.2	(10.8)	Water abstractions per capita (1 000 m³, 2017)	0.6
Exposure to air pollution (more than 10 μg/m³ of PM 2.5, % of population)	97.6	(61.7)	Municipal waste per capita (tonnes, 2018, OECD: 2019)	0.3	(0.5)
SOCIETY
Income inequality (Gini coefficient, 2015, OECD: 2016)	0.334	(0.318)	Education outcomes (PISA score, 2018)
Relative poverty rate (%, 2018, OECD: 2017)	15.7	(11.7)	Reading	504	(487)
Median disposable household income (thousand USD PPP, 2018, OECD: 2017)	21.7	(24.2)	Mathematics	527	(489)
Public and private spending (% of GDP)			Science	529	(489)
Health care	11.0	(8.8)	Share of women in parliament (%)	10.1	(30.7)
Pensions (2017)	9.7	(8.1)	Net official development assistance (% of GNI, 2017)	0.2	(0.4)
Education (% of GNI)	2.7	(4.4)

* The year is indicated in parenthesis if it deviates from the year in the main title of this table.

** Where the OECD aggregate is not provided in the source database, a simple OECD average of latest available data is calculated where data exist for at least 80% of member countries.

Source: Calculations based on data extracted from databases of the following organisations: OECD, International Energy Agency, International Labour Organisation, International Monetary Fund, United Nations, World Bank.