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. source: Cabinet Office, Japan

GDP Growth Rate in Japan averaged 0.44 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 October 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. 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


Calendar GMT Actual Previous Consensus TEForecast
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 -1% 2.8% -1.2% -1.3%
2021-08-15 11:50 PM QoQ Prel Q2 0.3% -0.9% 0.2% 0.4%
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 0.5% 1.5%
2021-12-07 11:50 PM QoQ Final Q3 0.5%


News Stream
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 Q1 GDP Shrinks Less than Initially Thought
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% 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%.
2021-06-08
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 Last Unit Reference Previous Highest Lowest
GDP Growth Rate 0.50 percent Jun/21 -1.10 5.40 -7.90
GDP Growth Annualized 1.90 percent Jun/21 -4.20 23.20 -28.10
GDP Annual Growth Rate 7.60 percent Jun/21 -1.30 9.40 -10.10
GDP Constant Prices 539309.30 JPY Billion Jun/21 536804.80 557793.90 255945.60
Gross National Product 560130.50 JPY Billion Jun/21 559428.90 577916.60 260680.20
Gross Fixed Capital Formation 134634.70 JPY Billion Jun/21 132819.80 156750.90 71463.10
GDP From Utilities 16498.00 JPY Billion Dec/19 16946.40 20080.30 13846.70
GDP From Transport 22885.30 JPY Billion Dec/19 23141.00 24799.00 20164.40
GDP From Services 22059.10 JPY Billion Dec/19 22018.40 27926.40 22018.40
GDP From Public Administration 27095.30 JPY Billion Dec/19 26898.50 27095.30 22400.60
GDP From Mining 381.00 JPY Billion Dec/19 398.70 1124.40 371.20
GDP From Manufacturing 117923.20 JPY Billion Dec/19 118976.00 118976.00 84669.10
GDP From Construction 28935.10 JPY Billion Dec/19 29460.80 43399.60 24492.80
GDP From Agriculture 4883.30 JPY Billion Dec/19 4816.60 8015.90 4816.60


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.