Japan in the Free World Economy: A Statement on National Policy by the Research and Policy Committee of the Committee for Economic Development

By Keizai Doyukai; United Nations Environment Programme | Go to book overview

1. INTRODUCTION

In 1960 the Japanese Government announced its long-range economic growth policy, based on its past experiences with the growth of the labor force, fixed capital investments, government and private consumption expenditures, and imports and exports. The envisaged annual growth rates covering the ten years between 1961 and 1970 are 7.8 per cent for the gross national product, 11.9 per cent for industrial production, 10 per cent for exports and 9.3 per cent for imports. As the average annual growth rate of Japan's population is estimated at 0.9 per cent during the decade, the per capita national income is expected to increase by 6.9 per cent annually. Thus, by 1970 Japan's gross national product is projected to arrive at $72 billion in terms of 1958 prices.1

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1
Throughout this statement, Japanese money values have been converted to U.S. dollars at the current exchange rate, $1.00 = 360 yen.

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