708-Chaudhari Technical Institute, Gandhinagar - Gujarat ...

As it stands now, India is the fourth-largest economy in the world, trailing the
U.S., China and Japan. GDP figures from 2010 show that the Japanese
economy was worth $4.31 trillion, with India at $4.06 trillion. Not far behind.
The earthquake and tsunami in March nearly shut Japan down for a month
and now Japan's economy is expected to post no growth at all this year, at
best, while India's economy will grow between 7% and 8% in 2011.
“India should overtake Japan in 2011 to become the third-largest economy in
the world at purchasing power parity,” Sunil Sinha, head of research and
senior economist at Crisil was quoted saying in The Economic Times of India
on Tuesday.
The International Monetary Fund's growth forecast for India and Japan show
both country's GDP levels about the same in constant dollar terms, but the
disaster in Japan has taken its toll on the nation's growth. “Were it not for the
earthquake and tsunami, India would have overtaken Japan in around 2013-
14,” said Sinha.
Economy:
The Japanese economy is one of the third largest in the world. Only the USA
and China have a higher GNP. The Japanese currency is the Yen.
Exports: Japan's main export goods are cars, electronic devices and
computers. Most important trade partners are China and the USA, followed by
South Korea, Taiwan, Hong Kong, Singapore, Thailand and Germany.
Imports: Japan has a surplus in its export/import balance. The fundamental
import goods are raw materials such as oil, foodstuffs and wood. Major
supplier is China, followed by the USA, Australia, Saudia Arabia, South
Korea, Indonesia and the United Arab Emirates.
Industries: Manufacturing, construction, distribution, real estate, services,
and communication are Japan's major industries today. Agriculture makes up
only about two percent of the GNP. The largest part essential farming product
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