Portfolio Essay Example | Topics and Well Written Essays - 2000 words - 6

Portfolio - Essay Example Japan has become one of the industrialised countries to some extent (Cusumano, 2013). The pillar Japanese industries like housing and the auto industry are developing in leaps and bounds. The main exported products in Japan are electric and machinery equipment and the most imported products are the raw materials used in industries. Because of economic extroversion, the industry of Japan has internationally competed in the recent years and as a result, the industrial development in the country is highly influenced by global economic environments (Cusumano, 2006). The price of exports in Japan keeps on declining thus making it more challenging than other sectors. Foreign-invested enterprises and products’ market share, on the other hand, keep on increasing. These two factors increase the challenges that the domestic industry of Japan faces based on production and selling (Krafcik, 2008).For instance, the domestic enterprises are affected particularly. In addition, industries such as light and textile have decreased their growth rate since the year 1990. Additionally, the production rate of products such as durable consumption goods has drastically decreased.The main dominant sector in the economic status of Japan remains its industries and manufacturing sectors. Despite decreasing the nation’s GDP by 5% percent, industrialization still remains the leading sector and has contributed to 55 percent of the country’s GDP in the year 2012 (Lieberman, Lau & Williams, 2000). This cemented the position of Japan as among the leadin g country in terms of industrial output. The industrial sector in Japan has not only increased the economic growth of the country, but also increased the rate of employment opportunities. More factories are being opened day by day in Japan, thus creating both professional and non-professional employment opportunities. Industrial development