In 2002-07, growth improved and the lingering fears of deflation in prices and economic activity lessened, leading the central bank to raise interest rates to 0.25% in July 2006, up from the near 0% rate of the six years prior, and to 0.50% in February 2007. Japan's huge government debt, which totals 182% of GDP, and the aging of the population are two major long-run problems. Some fear that a rise in taxes could endanger the current economic recovery. Debate also continues on the role of and effects of reform in restructuring the economy, particularly with respect to increasing income disparities and the 2007-17 privatization of Japan Post, which has functioned not only as the national postal delivery system but also, through its banking and insurance facilities, as Japan's largest financial institution.
? GDP (purchasing power parity): $4.305 trillion (2007 est.)
? GDP - real growth rate: 2% (2007 est.)
? GDP - per capita (PPP): $33,800 (2007 est.)
? GDP - composition by sector: agriculture: 1.5%
industry: 25.2%
services: 73.3% (2007 est.)
? Labor force: 66.07 million (2007 est.)
? Internet users: 87.54 million (2006)
? Government type: constitutional monarchy with a parliamentary government
? Inflation rate (consumer prices): 0% (2007 est.)
? Unemployment rate: 3.8% (2007 est.)
? Population: 127,433,494 (July 2007 est.)
? Age structure: 0-14 years: 13.8% (male 9,024,344/female 8,553,700)
15-64 years: 65.2% (male 41,841,760/female 41,253,968)
65 years and over: 21% (male 11,312,492/female 15,447,230) (2007 est.)
? Literacy: definition: age 15 and over can read and write
total population: 99%
male: 99%
female: 99% (2002)
Internet facts(2003)
? There are 32,244,000 bro ...