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- JAPAN COUNTRY FACT SHEET
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- PROFILE:
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- A. Population: 123.61 million
- B. Religions: Shintoism, Buddhism, Christianity 1 percent
- C. Government: Type: Parliamentary Democracy
- Head of Government:
- Prime Minister Kiichi Miyazawa
- D. Language: Japanese
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- ECONOMY: 1988 1989 1990
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- A. GNP ($B, Nominal) 2,916 2,890 2,964
- B. GNP Growth Rate (real, 1985 base) 6.2 4.7 5.6
- C. GNP per capita (in dollars) 23,750 23,448 23,971
- D. Gov't spending as a percent of GNP 15.8 15.6 15.4
- E. Inflation (CPI, 1985 base, percent) 0.7 2.3 3.1
- F. Unemployment (percent) 2.5 2.3 2.1
- G. Foreign Exchange Reserves ($B) 97.7 84.9 77.1
- H. Average Exchange Rate ($1=) 128.15 137.96 144.79
- I. U.S. Economic Assistance 0 0 0
- J. Output/hour manufacturing (1985=100) 90.7 92.8 94.6
- K. Domestic Demand (percent growth) 7.6 5.9 5.8
- L. Household Savings Rate (percent) 14.3 14.1 13.8
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- TRADE:
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- A. Total Japanese Exports ($M) 265,917 275,175 286,948
- B. Total Japanese Imports ($M) 187,354 210,847 234,799
- C. Total U.S. Exports (FAS value, $M) 322,426 363,812 393,893
- D. Total U.S. Imports (customs val. $M) 440,952 473,211 494,903
- E. U.S. Exports to Japan (FAS, $M) 37,725 44,494 48,585
- F. U.S. Imports fm Jpn (customs val. $M) 89,519 93,553 89,655
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- Principal U.S. Exports: automatic data processing
- machines and office equipment; wood, in the rough or
- roughly squared; aircraft, spacecraft, and associated
- equipment; seafood products; semiconductors and other
- electronic components
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- Principal U.S. Imports: motor cars and other motor
- vehicles, automatic data processing machines and office
- equipment, parts and accessories of motor vehicles,
- scientific optical equipment, and semiconductors and
- other electronic components
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- Best U.S. Export Prospects: Pharmaceuticals,
- telecommunication services, marine fishery products,
- biotechnology products, medical equipment and supplies,
- industrial chemicals, aircraft and parts,
- architectural/engineering/construction services,
- sporting goods, computer software and services, and
- building products.
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- Foreign Supplier Share of Japanese Imports in 1990:
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- 1. S.E. Asia: 23.3% 4. Middle East: 13.2%
- 2. U.S.: 22.4% 5. Indonesia: 5.4%
- 3. E.C.: 14.9% 6. Australia: 5.3%
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- BOP Current Account Balance: 1989: $57.16 billion
- 1990: $35.79 billion
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- Trade Balances with Leading Partners, 1990 ($B):
- 1. U.S.: 41.07
- 2. S.E. Asia:28.12
- 3. E.C. (including the Federal Republic of Germany): 18.49
- 4. Federal Republic of Germany: 6.30
- 5. Republic of Korea: 5.75
- 6. Middle East: -21.46
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- IMPORT POLICY:
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- 1. Tariffs: The average Japanese tariff is low, but on
- specific items, particularly foodstuffs and leather
- goods, both tariffs and quotas are trade restrictive.
- Japan has recently eliminated the import quotas on beef
- and citrus, as well as the quotas on many processed
- foods.
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- 2. Taxes: Since April 1, 1989, the commodity tax has been
- replaced with a general consumption tax of 3 percent, 6
- percent on autos, which is levied on the c.i.f. plus
- duty value.
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- 3. Licensing of Technology: Until recently, a report had
- to be filed with the Ministry of Finance and other
- competent ministries through the Bank of Japan before
- signing a licensing contract. In practice, the
- investor was notified that the Japanese Government had
- no objection within one hour following notification, if
- the proposed investment was in unrestricted industries.
- However, as part of the U.S.-Japan Structural
- Impediments Initiative Agreement, this prior
- notification requirement has been replaced by ex post
- facto notification for investment in unrestricted
- sectors. More stringent regulations apply to
- "designated technologies" which have been determined to
- have significant influence on the security of the
- nation and the national economy.
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- INVESTMENT:
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- Foreign Ownership Restrictions: A 100 percent foreign
- capital is allowed in principle except for the
- following sectors: broadcasting; telecommunications;
- electric power generation; domestic rail and air
- transportation; arms; gun powder; atomic energy;
- aircraft; space development; narcotic manufacturing;
- vaccine manufacturing; security guard services;
- agriculture, forestry, and fisheries; petroleum
- refining and marketing; leather and leather product
- manufacturing; and mining. Total U.S. Direct
- Investment in Japan (cumulative): 1988 $16.9 billion,
- 1989 $18.5 billion, 1990 $20.9 billion.
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- Principal Foreign Investment Sectors in Japan
- (1950-1989): Machinery, chemical, commerce/foreign
- trade, services, real estate, petroleum,
- banking/insurance, and metals.
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- U.S. Share of Foreign Direct Investment in Japan: 50.5
- percent (as of March 31, 1990)
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- Principal Foreign Investors in Japan (JFY 1989):
- United States, the Netherlands, Federal Republic of
- Germany, Switzerland, United Kingdom, and Hong Kong.
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- Japan's Foreign Direct Investment in U.S.
- (cumulative): 1988 $53.4 billion, 1989 $67.3 billion,
- 1990 $83.5 billion.
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