The Japanese economy shrank 0.3% on quarter in the three months to September 2022, missing market consensus of a 0.3% growth and following an upwardly revised 1.1% growth in the previous period, preliminary data showed. This was the first GDP contraction since Q3 2021, amid global inflation pressures and a slump in the yen. Private consumption grew at a softer pace (0.3% vs 1.2% in Q2), hit by another COVID wave in August and despite efforts from the government to step up support for households. Meanwhile, business investment growth slowed notably (1.5% vs 2.4% in Q2), while government expenditure was flat after rising in the prior two quarters. Net trade was also a drag on the GDP, as exports rose 1.9% and imports jumped 5.2%, the most in seven quarters. source: Cabinet Office, Japan

GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2022, reaching an all time high of 5.30 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 December of 2022.

GDP Growth Rate in Japan is expected to be -0.60 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 2023 and 0.50 percent in 2024, according to our econometric models.

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Japan GDP Growth Rate



Calendar GMT Actual Previous Consensus TEForecast
2022-09-07 11:50 PM QoQ Final Q2 0.9% 0.1% 0.7% 0.5%
2022-11-14 11:50 PM QoQ Prel Q3 -0.3% 1.1% 0.3% 0.3%
2022-12-07 11:50 PM QoQ Final Q3 1.1% -0.3% -0.3%


Related Last Previous Unit Reference
GDP Growth Rate -0.30 1.10 percent Sep 2022
GDP Growth Annualized -1.20 4.60 percent Sep 2022
GDP Annual Growth Rate 1.80 1.70 percent Sep 2022
GDP Constant Prices 543615.10 544021.80 JPY Billion Sep 2022
Gross National Product 557205.20 561271.80 JPY Billion Sep 2022
Gross Fixed Capital Formation 130772.20 129242.10 JPY Billion Sep 2022
Full Year GDP Growth 1.70 -4.50 percent Dec 2021
GDP from Utilities 16348.80 16498.00 JPY Billion Dec 2020
GDP from Transport 24330.30 22885.30 JPY Billion Dec 2020
GDP from Services 19512.70 22059.10 JPY Billion Dec 2020
GDP from Public Administration 27259.00 27095.30 JPY Billion Dec 2020
GDP from Mining 365.10 381.00 JPY Billion Dec 2020
GDP from Manufacturing 108093.80 117923.20 JPY Billion Dec 2020
GDP from Construction 30154.10 28935.10 JPY Billion Dec 2020
GDP from Agriculture 4688.70 4883.30 JPY Billion Dec 2020

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.
Actual Previous Highest Lowest Dates Unit Frequency
-0.30 1.10 5.30 -7.90 1980 - 2022 percent Quarterly
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News Stream
Japan Economy Unexpectedly Shrinks in Q3
The Japanese economy shrank 0.3% on quarter in the three months to September 2022, missing market consensus of a 0.3% growth and following an upwardly revised 1.1% growth in the previous period, preliminary data showed. This was the first GDP contraction since Q3 2021, amid global inflation pressures and a slump in the yen. Private consumption grew at a softer pace (0.3% vs 1.2% in Q2), hit by another COVID wave in August and despite efforts from the government to step up support for households. Meanwhile, business investment growth slowed notably (1.5% vs 2.4% in Q2), while government expenditure was flat after rising in the prior two quarters. Net trade was also a drag on the GDP, as exports rose 1.9% and imports jumped 5.2%, the most in seven quarters.
2022-11-15
Japan Q2 GDP Growth Revised Higher
The Japanese economy expanded 0.9% qoq in Q2 of 2022, compared with the flash data of a 0.5% rise and after an upwardly revised 0.1% growth in Q1. The latest figure was above market consensus of a 0.7% increase, growing for the third straight quarter, amid an upward revision of private consumption (1.2% vs 1.1% in the first estimate and after a 0.3% rise in Q1) following a lifting of all COVID curbs, as did government spending (0.7% vs 0.5% in flash data and after a 0.4% rise previously). Also, business sentiment grew 2.0%, faster than initially thought of 1.4%, which was a reversal from a 0.1% drop in Q1. Net trade also contributed positively, with growth in exports stable (at 0.9%) while imports went up at a softer rate (0.7% vs 3.5%). In the longer term, however, the economic outlook remains uncertain as the global economy weakens amid a new wave of infections in some countries, persistent supply chain issues, and high raw material prices that are boosting households' living costs.
2022-09-07
Japan Q2 GDP Growth Rebounds Less than Expected
The Japanese economy expanded 0.5% qoq in Q1 of 2022, compared with market estimates of a 0.6% growth, and after a revised stagnation in Q1, preliminary data showed. Private consumption accelerated (1.1% vs 0.3% in Q1 and consensus of 1.3%) following a lifting of COVID-19 curbs, while government spending rose for the second straight quarter (0.5% vs 0.4%). Meantime, there was a bounce back in business investment (1.4% vs -0.3%), as did public investment (1.4% vs -0.3%). Net external demand added no contribution to the GDP, with growth in exports stable (at 0.9%) while imports increased much softer 0.7% (vs 3.5%). In the longer term, the economic outlook remains uncertain as the global economy weakens amid a resurgence of infections in some countries, persistent supply chain issues, and rising raw material prices that are boosting households' living costs.
2022-08-15