The Japanese economy shrank 1.0% on quarter in Q1 2021, compared with the initial estimate of a 1.3% fall and market estimates of a 1.2 percent drop and after a 2.8% growth in Q4. This was the first contraction since Q2 2020, amid a resurgence of COVID-19 cases and slow vaccine rollouts, with capital expenditure falling less than initially anticipated (-1.2% vs -1.4% in the preliminary estimate and after gaining 4.3% in Q4). Meantime, private consumption dropped for the first time in three quarters (-1.5% vs -1.% in the initial reading and after rising 2.2% in Q4), government spending declined for the first time in a year (-1.1% vs 1.8% in the preliminary data and after increasing 1.8% in Q4), and public investment shrank for the first time in seven quarters (-0.5% vs -1.1% in the flash reading and after increasing 1.3% in Q4). At the same time, net external demand subtracted 0.2 percentage points from growth as exports rose 2.2% while imports grew at a faster 3.9%. source: Cabinet Office, Japan
GDP Growth Rate in Japan averaged 0.44 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 June 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.