... hampered in 2000/01 by the slowing of the US and Asian economies. [PhrasebaseTM] Japan is the world's largest and technologically advanced producers of motor vehicles, electronic equipment, machine tools, steel and nonferrous metals, ships, chemicals, textiles and processed foods. It has an export-oriented economy where primary exports include motor vehicles, semiconductors, office machinery and chemicals. Major export trading partners are the USA, Taiwan, South Korea, China and Hong Kong. Japan's primary imports are fuels, foodstuffs, chemicals, textiles and office machinery, from the USA, China, South Korea, Taiwan, Indonesia and Australia. 3. Balance of Payments The Balance of Payments (BOP) is a "double-entry" accounting system measuring and recording all economic transactions between residents of the home country and residents of foreign countries during a particular time period. It comprises two sections, i.e. the Current Account and the Capital and Financial Account, equalling each other. It is an important indicator of relative economic performance and ...

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