The economy of Japan is one of the most vibrant and booming economy in the world. Japan is the second most technologically powerful economy in the world after the US and the third-largest economy in the world after the US and China, measured on a purchasing power parity (PPP) basis. The sectors of Japanese economy which enjoyed the highest percentage of growth are automobile industry, innovative technological sector, electrical products and domestic items. Japan's main export goods are cars, electronic devices and computers. The most important import goods are raw materials such as oil, foodstuffs and wood. Japan is best known for its most powerful and biggest consumer electronics industry. Japan's industrial sector is heavily dependent on imported raw materials and fuels.