Japan

An outstanding event in Japan during the year ending September 1955 was the remarkable rise in its normal exports to $1,850 million, an increase of 33 per cent over the preceding twelve months and by far a post-war record. This export boom, which appears to have been largely caused by external factors, dominated Japan’s economic scene during that period. Wholesale prices, which declined during the first half of 1954, turned the corner in July and subsequently rose slightly and maintained their new level for almost a year. The index of manufacturing production, which, for the first time in the post-war period, threatened to turn downwards in the first half of 1954, began picking up again after September 1954 and sustained an upward trend for the subsequent twelve months. There seems to be little doubt that a spell of monetary deflation deliberately brought about towards the end of 1953, was cut short by an export boom which had a favourable effect on almost every line of industry, textiles and secondary metal products in particular.

Sustainable Development Goals:

Decent Work and Economic Growth

Reduced Inequalities