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transport: Economy of Japan
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Japan has a highly developed mixed economy. It is known as an East Asian model for its public investment into strategic sectors. Japan is the fourth-largest economy in the world by nominal GDP and the fifth-largest by purchasing power parity (PPP). It constituted 3.7% of the world's economy on a nominal basis in 2024. A founding member of the G7 and an early member of the OECD, Japan was the first country in Asia to achieve developed country status. In 2024, Japan was the sixth-largest in the world as an importer and eight-largest as an exporter. The country also has the world's fourth-largest consumer market, and consumption accounts for around 53% of GDP. Long having been an agricultural…
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Japan is a major consumer of energy, ranking fifth in the world by primary energy use. Fossil fuels accounted for 67% of Japan's primary energy in 2023. Japan imports most of its energy due to scarce domestic resources. As of 2022, the country imports 97% of its oil and is the largest liquefied natural gas (LNG) importer globally. Japan is increasing its reliance on renewable energy to replace imported fossil fuels, and in 2019 renewable energy accounted for 7.8% of primary energy supply. Japan has committed to reaching net zero emissions by 2050, setting a target to reduce GHG emissions by 60% from year 2013 levels by 2035 and by 73% by 2040. In addition, the 7th Strategic energy Plan has…
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