P.M. BRIEFING : Prices Inflate Japanese Assets
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TOKYO — Paced by soaring land and stock prices, Japan’s national assets jumped 14.4% in 1989 to $52.7 trillion, far exceeding the nation’s gross national product, the Economic Planning Agency reported today.
Japan’s GNP grew 7.2% to $3.12 trillion in fiscal 1989 ended last March 31.
The agency said Japan’s gross domestic product at the end of calendar 1989 stood at $22.1 billion, ranking second after the United States among member countries of the Organization for Economic Cooperation and Development.
Japan’s per capita gross domestic product stood at $23,296, ranking second after Switzerland with $26,104.
Finland was third with $23,196, followed by Sweden with $22,443, Norway with $21,334 and the United States with $20,768, the agency said.
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