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Japan is the world's third-largest economy, after the United States and China, and boasts several assets. Among them, Japan is a leading exporter of vehicles, machinery, electronics and robotics. The country also has a modern infrastructure, a large consumer market with a population of 126 million, very high savings reserves, a low unemployment rate and a high degree of stability.

After several waves of COVID infection in 2020 negatively impacted consumer spending, exports and inbound tourism, real GDP growth was 1.6% in 2021. GDP growth is expected to continue in the coming years and this is due to continued strong policy support measures, high vaccination coverage and declining global supply constraints. As the uncertainty associated with the pandemic and the supply of goods and services will subside, investment will also pick up.

It is in this context that the Belgian Foreign Trade Agency, in collaboration with its partners, the FPS Foreign Affairs, Flanders Investment & Trade, hub.brussels and AWEX, is organising a joint economic mission to Japan (Tokyo, Nagoya, Osaka and Kyoto) from 5 to 9 December 2022, chaired by HRH Princess Astrid, Representative of His Majesty the King.

You will find a detailed analysis of the Japanse economy in our new publication (only available in French and Dutch).

cover economic study Japan (December 2022)