Member of: ADB, ASPAC, CCC, Colombo Plan, DAC, ESCAP, FAO, GATT, IAEA,
IBRD, ICAC, ICAO, ICO, IDA, IDB—Inter-American Development Bank, IEA, IFAD,
IFC, IHO, ILO, ILZSG, IMF, IMO, INTELSAT, INTERPOL, IPU, IRC, ISO, ITC, ITU,
IWC—International Whaling Commission, IWC—International Wheat Council, OECD,
UN, UNESCO, UPU, WFTU, WHO, WIPO, WMO, WSG
Diplomatic representation: Ambassador Nobuo MATSUNAGA; Chancery at 2520 Massachusetts Avenue NW, Washington DC 20008; telephone (202) 939-6700; there are Japanese Consulates General in Agana (Guam), Anchorage, Atlanta, Boston, Chicago, Honolulu, Houston, Kansas City (Missouri), Los Angeles, New Orleans, New York, San Francisco, Seattle, and Portland (Oregon), and a Consulate in Saipan (Northern Mariana Islands); US—Ambassador Michael H. ARMACOST; Embassy at 10-1, Akasaka 1-chome, Minato-ku (107), Tokyo (mailing address is APO San Francisco 96503); telephone [81] (3) 224-5000; there are US Consulates General in Naha, Osaka-Kobe, and Sapporo and a Consulate in Fukuoka
Flag: white with a large red disk (representing the sun without rays) in the center
- Economy Overview: Although Japan has few natural resources, since 1971 it has become the world's third-largest industrial economy, ranking behind only the US and the USSR. Government-industry cooperation, a strong work ethic, and a comparatively small defense allocation have helped Japan advance rapidly, notably in high-technology fields. Industry, the most important sector of the economy, is heavily dependent on imported raw materials and fuels. Self-sufficent in rice, Japan must import 50% of its requirements for other grain and fodder crops. Japan maintains one of the world's largest fishing fleets and accounts for nearly 15% of the total global catch. Overall economic growth has been spectacular: a 10% average in the 1960s, a 5% average in the 1970s and 1980s. In 1989 strong investment and consumption spending helped maintain growth at nearly 5%. Inflation remains low at 2.1% despite high oil prices and a somewhat weaker yen. Japan continues to run a huge trade surplus, $60 billion in 1989, which supports extensive investment in foreign properties.
GNP: $1,914.1 billion, per capita $15,600; real growth rate 4.8% (1989 est.)
Inflation rate (consumer prices): 2.1% (1989)
Unemployment rate: 2.3% (1989)
Budget: revenues $392 billion; expenditures $464 billion, including capital expenditures of $NA (FY89)
Exports: $270 billion (f.o.b., 1989); commodities—manufactures 97% (including machinery 38%, motor vehicles 17%, consumer electronics 10%); partners—US 34%, Southeast Asia 22%, Western Europe 21%, Communist countries 5%, Middle East 5%
Imports: $210 billion (c.i.f., 1989); commodities—manufactures 42%, fossil fuels 30%, foodstuffs 15%, nonfuel raw materials 13%; partners—Southeast Asia 23%, US 23%, Middle East 15%, Western Europe 16%, Communist countries 7%