A few days ago, according to the annual projections of the national economic plan released by the Japanese Cabinet Office, , based on per capita GDP, which measures a country's wealth, Japan's per capita GDP in 2021 is US$39,803. Although it is still among the ranks of developed countries, it is lower than in previous years, and is ranked higher than the Organization for Economic Cooperation and Development (OECD) ranked 20th among the 38 members, which is also lower than the 19th place in 2020. All signs indicate that Japan’s economy has long-term lack of vitality, economic growth is weak, and the long-term sluggish personal consumption is dragging down the overall economic growth and social and economic prosperity and vitality.
However, the report also specifically pointed out that compared with 2020, the depreciation of the yen against the US dollar has also lowered Japan's per capita GDP in US dollars. The decrease in Japan's per capita GDP was also affected by the exchange rate .
Officials in Japan’s economic field told the public at a press conference on December 23, “Due to long-term deflation, companies have suppressed investment and wages, and individuals have to reduce consumption.”
You must know that in 2005, Japan's per capita GDP was as high as 13th in the world. However, more than ten years later, the ranking not only did not rise, but fell sharply. This objectively reflects the fact that Japan's economy has been stagnant for a long time.
However, in terms of total GDP, Japan is still a pivotal economic power in the world.
In 2021, Japan's GDP is US$5.0037 trillion, ranking third in the world. Although the gap with China and the United States is gradually widening, it is still ahead of all other countries. From a global perspective, Japan's economy still occupies an important position. Hum, but Japan’s GDP will account for 5.2% of global GDP in 2021, which is significantly lower than 5.8% in 2019. Many people believe that Japan’s economic advantage is losing and will be surpassed by Germany in the near future.
Japan’s economy has no prospects. It can only rely on resting on its laurels and barely maintain its previous decent and glorious life. Before the emergence of new technological innovations, the reality of Japan’s economic stagnation will not change.
