https://www.confiduss.com/en/jurisdictions/japan/economy/ - Economy of Japan

Japan is considered a developed country. A nation's level of development is determined by a number of factors including, but not limited to, economic prosperity, life expectancy, income equality and quality of life. As a developed country, Japan is able to provide its citizens with social services such as public education, healthcare, and law enforcement. Citizens of developed countries enjoy a high standard of living and longer life expectancies than citizens of developing countries. Each year, Japan exports about US$697 billion and imports about US$766.6 billion. 3% of the country's population is unemployed. The total number of unemployed in Japan is 3,815,560. In Japan, 16% of the population lives below the poverty line. The proportion of citizens living below the poverty line in Japan is relatively high, but does not give rise to total concern in terms of investment. Potential lenders should look at other economic indicators, including GDP, urbanization rate and currency strength, before making investment decisions. Government spending on education is 3.5% of GDP. The country's Gini index is 37.9. There is good equality in Japan. The majority of citizens in Japan fall within a narrow income bracket, although in some cases there can be significant differences. Japan has a Human Development Index (HDI) of 0.89. Japan has a very high HDI value. This suggests that almost all citizens are able to lead a desirable life because of social and economic support; Citizens with a low standard of living receive help and support and have the opportunity to advance in society. The Global Peace Index (GPI) for Japan is 1.323. Due to the strong presence of law enforcement agencies and the high level of social responsibility, Japan is very safe by international standards. The strength of the legal rights index for Japan is 4. Overall, it is considered rather insufficient – bankruptcy and collateral laws are able to protect the rights of borrowers and lenders to a certain extent; Credit information may be sufficient but scarcely available or, conversely, available but not sufficient.


Currency
The currency of Japan is Japanese yen. The Japanese yen is a stable currency that can be relied upon for investment opportunities. The plural form of the word Japanese yen is yen. The symbol used for this currency is ¥, and it is abbreviated as JPY.

Credit rating
The depth of credit information index for Japan is 6, which means that information is mostly sufficient and quite detailed; accessibility is not a problem. According to the S&P credit-rating agency, Japan has a credit rating score of A+, and the prospects of this rating are stable. According to the Fitch credit-rating agency, Japan has a credit rating score of A, and the prospects of this rating are stable. According to the Moody's credit-rating agency, Japan has a credit rating score of A1, and the prospects of this rating are stable.

Central bank
In Japan, the institution that manages the state's currency, money supply, and interest rates is called Bank of Japan. Locally, the central bank of Japan is called 日本銀行. The average deposit interest rate offered by local banks in Japan is 0.4%.

Public debt
Japan has a government debt of 14.7% of the country's Gross Domestic Product (GDP), as assessed in 2012.

Tax information
The corporate tax in Japan is set at 30.86%. Personal income tax ranges from 5% to 50%, depending on your specific situation and income level. VAT in Japan is 8%, and it is known as Consumption Tax.