The Japanese economy advanced 0.6 percent quarter-on-quarter in the first quarter of 2019, stronger than a preliminary estimate of 0.5 percent and after an upwardly revised 0.5 percent growth in the previous period. Net exports contributed positively to the GDP growth for the first time in four quarters, while there was a substantial upward revision to capital expenditure. On an annualized basis, the economy grew 2.2 percent in the first quarter, better than a preliminary figure of 2.1 percent and following an upwardly revised 1.8 percent advance in the previous quarter. GDP Growth Rate in Japan averaged 0.49 percent from 1980 until 2019, reaching an all time high of 3.20 percent in the second quarter of 1990 and a record low of -4.80 percent in the first quarter of 2009.

GDP Growth Rate in Japan is expected to be 0.70 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 0.40 in 12 months time. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.50 percent in 2020, according to our econometric models.

Japan GDP Growth Rate
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Calendar GMT Actual Previous Consensus TEForecast
2019-02-13 11:50 PM GDP Growth Rate QoQ Prel Q4 0.3% -0.7% 0.4% 0.6%
2019-03-07 11:50 PM GDP Growth Rate QoQ Final Q4 0.5% -0.6% 0.4% 0.4%
2019-05-19 11:50 PM GDP Growth Rate QoQ Prel Q1 0.5% 0.4% -0.1% 0.1%
2019-06-09 11:50 PM GDP Growth Rate QoQ Final Q1 0.6% 0.5% 0.5% 0.5%
2019-08-08 11:50 PM GDP Growth Rate QoQ Prel Q2 0.6% 0.7%
2019-09-08 11:50 PM GDP Growth Rate QoQ Final Q2 0.6% 0.7%
2019-11-13 11:50 PM GDP Growth Rate QoQ Prel Q3 0.6%



Japan Q1 GDP Growth Revised Higher to 0.6%

The Japanese economy advanced 0.6 percent quarter-on-quarter in the first quarter of 2019, stronger than a preliminary estimate of 0.5 percent and after an upwardly revised 0.5 percent growth in the previous period.

In the first quarter, the largest contribution to the GDP growth came from net exports (0.4 percentage points), followed by private demand (0.1 percentage points) and changes in private inventories (0.1 percentage points).

Net exports contributed positively to the GDP expansion for the first time in four quarters, as imports of goods and services plunged 4.6 percent (vs 3 percent in Q4), the biggest decrease since the first quarter of 2009. Meantime, exports fell at a slower 2.4 percent (vs 1.2 percent in Q4), the steepest decline since the second quarter of 2015.

Meanwhile, private demand growth eased to 0.1 percent in the March quarter from 0.9 percent in the preceding period. Private consumption contracted 0.1 percent, compared to a 0.3 percent advance in Q4. Meanwhile, business spending grew by 0.3 percent, against a preliminary estimate of a 0.3 percent decline and following a 2.7 percent growth in Q4. 

Public demand increased by 0.2 percent in the March quarter, easing from a 0.3 percent advance in Q4. Public investment rebounded (1.2 percent vs -1.5 percent in Q4), while government spending contracted for the first time since the second quarter of 2017 (-0.1 percent vs 0.7 percent in Q4).

On an annualized basis, the economy grew 2.2 percent in the first quarter, better than the preliminary figure of 2.1 percent and following an upwardly revised 1.8 percent advance in the previous quarter. This was the highest annualized rate in three quarters.


Cabinet Office | Rida Husna | rida@tradingeconomics.com
6/10/2019 1:19:05 PM



Japan GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.60 0.50 3.20 -4.80 percent [+]
GDP Annual Growth Rate 0.90 0.30 9.40 -8.80 percent [+]
GDP Growth Annualized 2.20 1.80 12.90 -17.90 percent [+]
GDP 4970.92 4859.95 6203.21 44.31 USD Billion [+]
GDP Constant Prices 538161.60 535213.30 538161.60 255945.60 JPY Billion [+]
Gross National Product 560558.10 556853.60 560558.10 260680.20 JPY Billion [+]
Gross Fixed Capital Formation 128483.40 127798.00 141805.40 71463.10 JPY Billion [+]
GDP per capita 48919.60 48438.80 48919.60 8607.70 USD [+]
GDP per capita PPP 39293.50 38907.40 39293.50 30582.40 USD [+]
GDP From Agriculture 4480.70 4557.40 6807.20 4480.70 JPY Billion [+]
GDP From Construction 29714.00 28529.80 41780.10 23962.20 JPY Billion [+]
GDP From Manufacturing 109203.90 105311.00 109203.90 77688.40 JPY Billion [+]
GDP From Mining 231.70 207.90 922.10 207.90 JPY Billion [+]
GDP From Public Administration 26259.80 26267.00 26535.70 22255.00 JPY Billion [+]
GDP From Services 21996.40 21860.70 26170.30 21860.70 JPY Billion [+]
GDP From Transport 25233.60 24455.50 28606.50 23919.80 JPY Billion [+]
GDP From Utilities 9567.30 8748.40 13902.30 8641.90 JPY Billion [+]


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. This page provides - Japan GDP Growth Rate - actual values, historical data, forecast, chart, statistics, economic calendar and news. Japan GDP Growth Rate - actual data, historical chart and calendar of releases - was last updated on July of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.60 0.50 3.20 -4.80 1980 - 2019 percent Quarterly
SA




Country Last Previous
United States 3.10 Mar/19
China 1.60 Jun/19
India 1.60 Dec/18
Turkey 1.30 Mar/19
Saudi Arabia 1.07 Dec/18
Spain 0.70 Mar/19
Japan 0.60 Mar/19
Switzerland 0.60 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Australia 0.40 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Canada 0.10 Mar/19
Italy 0.10 Mar/19
Argentina -0.20 Mar/19
Brazil -0.20 Mar/19
Mexico -0.20 Mar/19
Russia -0.40 Mar/19
South Korea -0.40 Mar/19
Indonesia -0.52 Mar/19
South Africa -3.20 Mar/19
Singapore -3.40 Jun/19


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