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Economy Stats: compare key data on Holy See (Vatican City) & Japan

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Definitions

  • Budget > Expenditures: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Expenditures > Per capita: Expenditures calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Budget > Revenues: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms
  • Budget > Revenues > Per capita: Revenues calculated on an exchange rate basis, i.e., not in purchasing power parity (PPP) terms Per capita figures expressed per 1 population.
  • Currency: The national medium of exchange and its basic sub-unit.
  • Overview: This entry briefly describes the type of economy, including the degree of market orientation, the level of economic development, the most important natural resources, and the unique areas of specialization. It also characterizes major economic events and policy changes in the most recent 12 months and may include a statement about one or two key future macroeconomic trends.
  • Exchange rates: The official value of a country's monetary unit at a given date or over a given period of time, as expressed in units of local currency per US dollar and as determined by international market forces or official fiat.
  • Fiscal year: The beginning and ending months for a country's accounting period of 12 months, which often is the calendar year but which may begin in any month. All yearly references are for the calendar year (CY) unless indicated as a noncalendar fiscal year (FY).
  • Industries: A rank ordering of industries starting with the largest by value of annual output.
  • Labor force: This entry contains the total labor force figure.
  • Labor force per thousand people: This entry contains the total labor force figure. Figures expressed per thousand people for the same year.
  • Trade > Exports to US: in US dollars. Jan 2003 - March 2003
  • Trade balance with US: In US dollars. Jan 2003 - March 2003
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STAT Holy See (Vatican City) Japan HISTORY
Budget > Expenditures $326.40 million
Ranked 20th. 		$2.58 trillion
Ranked 2nd. 7898 times more than Holy See (Vatican City)
Budget > Expenditures > Per capita $433,009.71 per capita
Ranked 1st. 35 times more than Japan 		$12,296.61 per capita
Ranked 22nd.
Budget > Revenues $308.00 million
Ranked 191st. 		$1.99 trillion
Ranked 2nd. 6455 times more than Holy See (Vatican City)
Budget > Revenues > Per capita $431,432.04 per capita
Ranked 1st. 38 times more than Japan 		$11,472.65 per capita
Ranked 23th.
Currency euro yen
Overview The Holy See is supported financially by a variety of sources, including investments, real estate income, and donations from Catholic individuals, dioceses, and institutions; these help fund the Roman Curia (Vatican bureaucracy), diplomatic missions, and media outlets. Moreover, an annual collection taken up in dioceses and from direct donations go to a non-budgetary fund, known as Peter's Pence, which is used directly by the Pope for charity, disaster relief, and aid to churches in developing nations. Donations increased between 2010 and 2011. The separate Vatican City State budget includes the Vatican museums and post office and is supported financially by the sale of stamps, coins, medals, and tourist mementos; by fees for admission to museums; and by publication sales. Its revenues increased between 2010 and 2011 because of expanded opening hours and a growing number of visitors. However, the Holy See has not escaped the financial difficulties engulfing other European countries; in 2012 it started a spending review to determine where to cut costs to reverse its 2011 budget deficit of 15 million euros. Most public expenditures go to wages and other personnel costs; the incomes and living standards of lay workers are comparable to those of counterparts who work in the city of Rome. In the years following World War II, government-industry cooperation, a strong work ethic, mastery of high technology, and a comparatively small defense allocation (1% of GDP) helped Japan develop a technologically advanced economy. Two notable characteristics of the post-war economy were the close interlocking structures of manufacturers, suppliers, and distributors, known as keiretsu, and the guarantee of lifetime employment for a substantial portion of the urban labor force. Both features are now eroding under the dual pressures of global competition and domestic demographic change. Japan's industrial sector is heavily dependent on imported raw materials and fuels. A small agricultural sector is highly subsidized and protected, with crop yields among the highest in the world. While self-sufficient in rice production, Japan imports about 60% of its food on a caloric basis. For three decades, overall real economic growth had been spectacular - a 10% average in the 1960s, a 5% average in the 1970s, and a 4% average in the 1980s. Growth slowed markedly in the 1990s, averaging just 1.7%, largely because of the after effects of inefficient investment and an asset price bubble in the late 1980s that required a protracted period of time for firms to reduce excess debt, capital, and labor. Modest economic growth continued after 2000, but the economy has fallen into recession three times since 2008. A sharp downturn in business investment and global demand for Japan's exports in late 2008 pushed Japan into recession. Government stimulus spending helped the economy recover in late 2009 and 2010, but the economy contracted again in 2011 as the massive 9.0 magnitude earthquake and the ensuing tsunami in March disrupted manufacturing. The economy has largely recovered in the two years since the disaster, but reconstruction in the Tohoku region has been uneven. Newly-elected Prime Minister Shinzo ABE has declared the economy his government's top priority; he has pledged to reconsider his predecessor's plan to permanently close nuclear power plants and is pursuing an economic revitalization agenda of fiscal stimulus and regulatory reform and has said he will press the Bank of Japan to loosen monetary policy. Measured on a purchasing power parity (PPP) basis that adjusts for price differences, Japan in 2012 stood as the fourth-largest economy in the world after second-place China, which surpassed Japan in 2001, and third-place India, which edged out Japan in 2012. The new government will continue a longstanding debate on restructuring the economy and reining in Japan's huge government debt, which exceeds 200% of GDP. Persistent deflation, reliance on exports to drive growth, and an aging and shrinking population are other major long-term challenges for the economy.
Exchange rates euros (EUR) per US dollar -<br />0.78 (2012 est.)<br />0.72 (2011 est.)<br />0.76 (2010 est.)<br />0.72 (2009 est.)<br />0.68 (2008 est.) yen (JPY) per US dollar -<br />79.79 (2012 est.)<br />79.81 (2011 est.)<br />87.78 (2010 est.)<br />93.57 (2009)<br />103.58 (2008)
Fiscal year calendar year 1
Industries printing; production of coins, medals, postage stamps; mosaics and staff uniforms; worldwide banking and financial activities among world's largest and technologically advanced producers of motor vehicles, electronic equipment, machine tools, steel and nonferrous metals, ships, chemicals, textiles, processed foods
Labor force 2
Ranked 206th. 		65
Ranked 53th. 33 times more than Holy See (Vatican City)
Labor force per thousand people 2.38
Ranked 5th. 4667 times more than Japan 		0.000511
Ranked 106th.
Trade > Exports to US $200,000.00
Ranked 195th. 		$28.91 billion
Ranked 4th. 144569 times more than Holy See (Vatican City)
Trade balance with US $500,000.00
Ranked 89th. 		$-16,366,600,000.00
Ranked 223th.

SOURCES: CIA World Factbooks 18 December 2003 to 28 March 2011; All CIA World Factbooks 18 December 2003 to 18 December 2008; CIA World Factbooks 2010, 2011, 2012, 2013; CIA World Factbooks 2010, 2011, 2012, 2013. Population figures from World Bank: (1) United Nations Population Division. World Population Prospects, (2) United Nations Statistical Division. Population and Vital Statistics Report (various years), (3) Census reports and other statistical publications from national statistical offices, (4) Eurostat: Demographic Statistics, (5) Secretariat of the Pacific Community: Statistics and Demography Programme, and (6) U.S. Census Bureau: International Database.; US Census Bureau

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