The Japanese economy grew by just 0.1% in 2024, a sharp moderation from the 1.5% expansion in the prior year and the softest pace since 2020 due to mounting headwinds, including natural disasters, yen depreciation, and global trade uncertainties. Private consumption fell after three years of growth (-0.1% vs 0.8% in 2023), as wage rises lagged behind inflation for much of the year. Business investment rose the least in four years (1.2% vs. 1.5%), as the Bank of Japan delivered three rate hikes to normalize policy after years of ultra-low rates. On the trade front, exports posted their slowest increase since 2020 (1.0% vs. 3.0%), while imports rose after falling in 2023 (1.3% vs -1.5%), weighing on GDP. Simultaneously, government spending rebounded after a drop in 2023 (0.9% -0.3%). Japan's nominal GDP stood at JPY 609.29 trillion in 2024 ($4.0 trillion). While it topped the 600 trillion mark for the first time, Japan remained the world's fourth-largest economy, trailing behind Germany. source: Cabinet Office, Japan
Full Year GDP Growth in Japan decreased to 0.10 percent in 2024 from 1.90 percent in 2023. Full Year GDP Growth in Japan averaged 0.78 percent from 1995 until 2024, reaching an all time high of 4.10 percent in 2010 and a record low of -5.70 percent in 2009. This page includes a chart with historical data for Japan Full Year GDP Growth. Japan Full Year GDP Growth - values, historical data and charts - was last updated on September of 2025.
Full Year GDP Growth in Japan decreased to 0.10 percent in 2024 from 1.90 percent in 2023. Full Year GDP Growth in Japan is expected to reach 0.50 percent by the end of 2025, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan Full Year GDP Growth is projected to trend around 0.70 percent in 2026 and 1.10 percent in 2027, according to our econometric models.