The Japanese economy shrank 1.3% on quarter in Q1 2021, compared with market estimates of a 1.2% fall and after a 2.8% growth in the previous period, a preliminary reading showed. This was the first contraction since Q2 2020, amid a resurgence of COVID-19 cases and slow vaccine rollouts. Private consumption fell for the first time in three quarters (-1.4% vs 2.2% in Q4), government spending dropped for the first time in a year (-1.8% vs 1.8), and public investment declined for the first time in seven quarters (-1.1 percent vs 1.1 percent). Also, capital expenditure shrank 1.4 percent, swinging from a 4.3 percent growth in Q4. At the same time, net external demand subtracted 1.7 percentage points from growth as exports rose 2.3% while imports grew at a faster 4%. On an annualized basis, the economy contracted 5.1% in Q1, worse than consensus of a 4.6% drop and reversing from an 11.6% expansion in Q4. source: Cabinet Office, Japan

GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2021, reaching an all time high of 5.30 percent in the third quarter of 2020 and a record low of -8.10 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 May of 2021.

GDP Growth Rate in Japan is expected to be 1.50 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate GDP Growth Rate in Japan to stand at 0.90 in 12 months time. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.50 percent in 2022, according to our econometric models.

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Japan GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-1.30 2.80 5.30 -8.10 1980 - 2021 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-12-07 11:50 PM QoQ Final Q3 5.3% -8.3% 5% 5%
2021-02-14 11:50 PM QoQ Prel Q4 3% 5.3% 2.3% 2.2%
2021-03-08 11:50 PM QoQ Final Q4 2.8% 5.3% 3% 3.0%
2021-05-17 11:50 PM QoQ Prel Q1 -1.3% 2.8% -1.2% -1.1%
2021-06-07 11:50 PM QoQ Final Q1 2.8% -1.3%
2021-08-15 11:50 PM QoQ Prel Q2
2021-09-07 11:50 PM QoQ Final Q2
2021-11-14 11:50 PM QoQ Prel Q3
Go to our Calendar for more events. Or learn more about the Calendar API for direct access.


News Stream
Japan Q1 GDP Contracts More than Estimated
The Japanese economy shrank 1.3% on quarter in Q1 2021, compared with market estimates of a 1.2% fall and after a 2.8% growth in the previous period, a preliminary reading showed. This was the first contraction since Q2 2020, amid a resurgence of COVID-19 cases and slow vaccine rollouts. Private consumption fell for the first time in three quarters (-1.4% vs 2.2% in Q4), government spending dropped for the first time in a year (-1.8% vs 1.8), and public investment declined for the first time in seven quarters (-1.1 percent vs 1.1 percent). Also, capital expenditure shrank 1.4 percent, swinging from a 4.3 percent growth in Q4. At the same time, net external demand subtracted 0.2 percentage points from growth as exports rose 2.3% while imports grew at a faster 4%. On an annualized basis, the economy contracted 5.1% in Q1, worse than consensus of a 4.6% drop and reversing from a downwardly revised 11.6% expansion in Q4.
2021-05-17
Japan GDP Growth Revised Down to 2.8% QoQ
The Japanese economy advanced a downwardly revised 2.8 percent on quarter in the three months to December of 2020, following a 5.3 percent growth in the previous period and compared to a preliminary reading of 3 percent. Capital expenditure rose by 4.3 percent (vs -2.4 percent in Q3) and household consumption advanced by 2.2 percent (vs 5.1 percent in Q3). At the same time, net external demand contributed positively to the GDP as exports jumped 11.1 percent and imports were up at a slower 4 percent, while there were increases in both government consumption (1.8 percent vs 2.9 percent) and public investment (1.5 percent vs 0.9 percent). On an annualized basis, GDP expanded 11.7 percent in the quarter following a 22.9 percent growth and disappointing expectations of a 12.8 percent increase.
2021-03-09
Japan Q4 GDP Growth Beats Estimates
The Japanese economy advanced 3.0 percent on quarter in the three months to December of 2020, following a 5.3 percent growth in the previous period and beating market estimates of a 2.3 percent expansion, a preliminary reading showed. Gross fixed capital formation rebounded (3.2 percent vs -2.2 percent in Q3) while both private consumption (2.2 percent vs 5.1 percent in Q3) and public spending (2.0 percent vs 2.8 percent) grew at a softer pace. Net trade contributed positively to growth, as exports jumped 11 percent (from 7.4 percent in Q3) while imports increased 4.1 percent (from -8.2 percent in Q3). For the whole of 2020, the world's third-largest economy shrank 4.8 percent, marking the first contraction since 2009.
2021-02-14
Japan Economy Rebounds at Record Pace
The Japanese economy advanced a record 5.3 percent on quarter in the three months to September of 2020, better than the initial estimate of a 5 percent expansion, and recovering from a revised 8.3 percent slump in the previous period. Private consumption rebounded firmly (5.1 percent vs -8.3 percent in Q2) while public spending rose at a faster pace (2.8 percent vs 0.3 percent). At the same time, gross fixed capital formation contracted at a much softer rate (-2.3 percent vs -3.2 percent). Net trade contributed positively to growth, as exports increased 7.0 percent (from -17.1 percent in Q2) while imports dropped 8.8 percent (from 1.4 percent in Q2).
2020-12-08

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.