Economics Ireland Vs Japan

Japan has the third largest GDP all over the world, which is 23 times bigger than Ireland approximately. However as for the productivity (GDP/pop.) an Irish person produces more than a Japanese person.

There is a huge difference in GDP between Ireland and Japan but a similarity can be seen by the per capita figures. Those figures tell you the living standards of each country. As a country, Japan has a huge GNP but Japanese people seem to have a normal lifestyle like other countries.

Japan’s debt has been increasing for a long time with stable GDP figures. Japan’s VAT was raised last year (from 5% to 8%) but this was a slight change and ended in no impact on Japanese people. As one of the most advanced countries, and for the future of the country, Japan has to find out solutions to the debt problem.

While Ireland is known as the top 3most open economies in the world (196%), Japan is closed economy (33.6%). For example, Japanese people drive Japanese cars. Japanese people eat Japanese rice. Both Ireland and Japan are islands but Japan is more independent. This independence might have allowed China to have the greater GDP than Japan.