The Japanese economy shrank 0.8 percent qoq in Q3 2021, compared with market expectations of a 0.2 percent fall and after a downwardly revised 0.4 percent growth in Q2, amid a resurgence of COVID-19 cases and persistent global supply chain disruptions, preliminary data showed. Both household consumption (-1.2 percent vs 0.9 percent in Q2) and private non-residential investment (-3.8 percent vs 2.2 percent) contracted, while public investment was down for the third straight quarter (-1.5 percent vs -2.1 percent). At the same time, net external demand contributed negatively as exports fell 2.1 percent, down for the first time in five quarters; while imports slipped 2.7 percent, falling for the first time in a year. On the other hand, government consumption growth was unchanged (at 1.1 percent). On an annualized basis, the GDP contracted 3.0 percent in the third quarter, compared with forecasts of a 0.8 percent decline and following a 1.5 percent expansion in the June quarter. source: Cabinet Office, Japan

GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2021, reaching an all time high of 5.40 percent in the third quarter of 2020 and a record low of -7.90 percent in the second quarter of 2020. This page provides - Japan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan GDP Growth Rate - data, historical chart, forecasts and calendar of releases - was last updated on November of 2021.

GDP Growth Rate in Japan is expected to be 1.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.60 percent in 2022 and 0.50 percent in 2023, according to our econometric models.

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Japan GDP Growth Rate


Calendar GMT Actual Previous Consensus TEForecast
2021-09-07 11:50 PM QoQ Final Q2 0.5% -1.1% 0.4% 0.3%
2021-11-14 11:50 PM QoQ Prel Q3 -0.8% 0.4% -0.2% -0.2%
2021-12-07 11:50 PM QoQ Final Q3 0.5% -0.8%


Related Last Previous Unit Reference
GDP Growth Rate -0.80 0.40 percent Sep/21
GDP Growth Annualized -3.00 1.50 percent Sep/21
GDP Annual Growth Rate 1.40 7.60 percent Sep/21
GDP Constant Prices 534705.60 538824.90 JPY Billion Sep/21
Gross National Product 549667.40 557616.50 JPY Billion Sep/21
Gross Fixed Capital Formation 130252.70 134460.80 JPY Billion Sep/21
GDP From Utilities 16498.00 16946.40 JPY Billion Dec/19
GDP From Transport 22885.30 23141.00 JPY Billion Dec/19
GDP From Services 22059.10 22018.40 JPY Billion Dec/19
GDP From Public Administration 27095.30 26898.50 JPY Billion Dec/19
GDP From Mining 381.00 398.70 JPY Billion Dec/19
GDP From Manufacturing 117923.20 118976.00 JPY Billion Dec/19
GDP From Construction 28935.10 29460.80 JPY Billion Dec/19
GDP From Agriculture 4883.30 4816.60 JPY Billion Dec/19

News Stream
Japan Q3 GDP Shrinks More than Expected
The Japanese economy shrank 0.8 percent qoq in Q3 2021, compared with market expectations of a 0.2 percent fall and after a downwardly revised 0.4 percent growth in Q2, amid a resurgence of COVID-19 cases and persistent global supply chain disruptions, preliminary data showed. Both household consumption (-1.2 percent vs 0.9 percent in Q2) and private non-residential investment (-3.8 percent vs 2.2 percent) contracted, while public investment was down for the third straight quarter (-1.5 percent vs -2.1 percent). At the same time, net external demand contributed negatively as exports fell 2.1 percent, down for the first time in five quarters; while imports slipped 2.7 percent, falling for the first time in a year. On the other hand, government consumption growth was unchanged (at 1.1 percent). On an annualized basis, the GDP contracted 3.0 percent in the third quarter, compared with forecasts of a 0.8 percent decline and following a 1.5 percent expansion in the June quarter.
2021-11-14
Japan Q2 GDP Growth Revised Higher
The Japanese economy advanced 0.5 percent on quarter in the three months to June 2021, compared with a preliminary estimate of 0.3 percent growth and market expectations of 0.4 percent. It also followed a revised 1.1 percent fall in the first quarter, as domestic demand and activity rebounded from steep declines triggered by the coronavirus pandemic. Household consumption advanced 0.9 percent (vs -1.3 percent in Q1) and fixed investment rose 2.3 percent (vs -1.3 percent in Q1). Also, government consumption increased 1.3 percent (vs -1.7 percent in Q1), while public investment shrank 1.7 percent (vs -1.1 percent in Q1). Net external demand contributed negatively to the GDP as exports rose 2.8 percent and imports were up at a faster 5 percent. On an annualized basis, the economy expanded 1.9 percent in the second quarter, compared with a preliminary reading of 1.3 percent and market forecasts of 1.6 percent.
2021-09-08
Japan Q2 GDP Growth Beats Estimates
The Japanese economy advanced 0.3% qoq in Q2 2021, above market consensus of a 0.2% growth and after a downwardly revised 0.9% contraction in Q1, with domestic demand contributing 0.6% points to the GDP growth, preliminary estimated showed. Private consumption (0.8% vs -1% in Q1), capital expenditure (1.7% vs -1.3%) and government spending (0.5% vs -1.7%) all rebounded, as the economy recovered from the COVID-19 initial hit. At the same time, exports rose for the fourth straight quarter (2.9% vs 2.4%) while imports grew for the third quarter in a row (5.1% vs 4%). On an annualized basis, the economy expanded 1.3% in Q2, easily beating consensus of a 0.7% gain and reversing from a downwardly revised 3.7% contraction in Q1.
2021-08-16

Japan GDP Growth Rate
Japan's industrialized, free market economy is the fourth biggest in the world. Japan has the largest electronics industry and the third largest automobile industry in the world. Japan’s economy is well-known by its efficiency and competitiveness in exports oriented sectors, but productivity is lower in areas such as agriculture, distribution, and services.