The Japanese economy advanced 1.5% qoq in Q2 of 2023, beating market forecasts of a 0.8% rise and accelerating from an upwardly revised 0.9% growth in Q1, preliminary data showed. This was the second straight quarter of expansion and the fastest pace since Q4 of 2020, boosted by a positive contribution from net trade as exports rebounded (3.2% vs -3.8%) while imports fell for the third quarter in a row (-4.3% vs -2.3%). Meantime, government spending remained sluggish (0.1% vs 0.1%) and capital expenditure was flat after growing 1.8% in the prior period. However, private consumption, which accounts for more than half of the economy, fell after growing in the prior two quarters amid intense cost pressure (-0.5% vs 0.6%). The economy expanded 1.1% last year, slowing from a 2.1% rise in 2021 due to lingering global headwinds. source: Cabinet Office, Japan

GDP Growth Rate in Japan averaged 0.44 percent from 1980 until 2023, reaching an all time high of 5.60 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 August of 2023.

GDP Growth Rate in Japan is expected to be 1.20 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 2024 and 0.40 percent in 2025, according to our econometric models.

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Japan GDP Growth Rate



Calendar GMT Reference Actual Previous Consensus TEForecast
2023-06-07 11:50 PM QoQ Final Q1 0.7% 0.1% 0.5% 0.4%
2023-08-14 11:50 PM QoQ Prel Q2 1.5% 0.9% 0.8% 1%
2023-09-07 11:50 PM QoQ Final Q2 0.9% 1.5%


Related Last Previous Unit Reference
GDP Growth Rate 1.50 0.90 percent Jun 2023
GDP Growth Annualized 6.00 3.70 percent Jun 2023
GDP Annual Growth Rate 2.00 2.00 percent Jun 2023
GDP Constant Prices 560740.10 552574.30 JPY Billion Jun 2023
Gross National Product 584119.50 569407.10 JPY Billion Jun 2023
Gross Fixed Capital Formation 137801.10 137064.60 JPY Billion Jun 2023
Full Year GDP Growth 1.00 2.10 percent Dec 2022
GDP from Utilities 16182.10 15918.90 JPY Billion Dec 2021
GDP from Transport 25821.10 23895.60 JPY Billion Dec 2021
GDP from Services 19521.80 19538.00 JPY Billion Dec 2021
GDP from Public Administration 27359.30 27232.00 JPY Billion Dec 2021
GDP from Mining 339.00 357.80 JPY Billion Dec 2021
GDP from Manufacturing 117790.10 109546.20 JPY Billion Dec 2021
GDP from Construction 28323.80 29153.00 JPY Billion Dec 2021
GDP from Agriculture 4792.70 4641.70 JPY Billion Dec 2021

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
1.50 0.90 5.60 -7.90 1980 - 2023 percent Quarterly
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News Stream
Japan Q2 GDP Growth Exceeds Forecasts
The Japanese economy advanced 1.5% qoq in Q2 of 2023, beating market forecasts of a 0.8% rise and accelerating from an upwardly revised 0.9% growth in Q1, preliminary data showed. This was the second straight quarter of expansion and the fastest pace since Q4 of 2020, boosted by a positive contribution from net trade as exports rebounded (3.2% vs -3.8%) while imports fell for the third quarter in a row (-4.3% vs -2.3%). Meantime, government spending remained sluggish (0.1% vs 0.1%) and capital expenditure was flat after growing 1.8% in the prior period. However, private consumption, which accounts for more than half of the economy, fell after growing in the prior two quarters amid intense cost pressure (-0.5% vs 0.6%). The economy expanded 1.1% last year, slowing from a 2.1% rise in 2021 due to lingering global headwinds.
2023-08-15
Japan Q1 GDP Growth Revised Higher
The Japanese economy advanced 0.7% QoQ in the first three months of 2023, compared with a flash reading of 0.4% and after an upwardly revised 0.1% rise in the prior period. This was the second straight quarter of economic growth, which has exceeded market forecasts of a 0.5% increase and marked the steepest pace since Q2 of 2022, as private consumption rose the most in three quarters after tough border controls were fully lifted (0.5%, compared with 0.6% in flash data and after a 0.2% gain in Q4). Also, there was an upward revision in both capital expenditure (1.4%, compared with preliminary data and Q4 figure of 0.9%, topping estimates of 1.3%) and government spending (0.1%, compared with flat reading in initial projections and after a 0.2% rise in Q4). Meanwhile, net trade contributed negatively as exports (-4.2% vs 2.0%) fell more than imports (-2.3% vs flat reading). The economy expanded 1.1% last year, slowing from a 2.1% rise in 2021 due to lingering global headwinds.
2023-06-08
Japan Q1 GDP Growth Beats Forecasts
The Japanese economy grew by 0.4% qoq in Q1 of 2023 after showing no growth in Q4, exceeding market estimates of a 0.1% increase, preliminary data showed. This was the fastest pace of expansion since Q2 of 2022, with private consumption rising the most in three quarters (0.6% vs 0.2% in Q4) after tough border controls were fully lifted. Also, business investment unexpectedly increased by 0.9%, rebounding strongly from a 0.7% fall previously. Meantime, government spending stagnated for the third quarter in a row, while net trade contributed negatively as exports (-4.2% vs 2.0%) fell more than imports (-2.3% vs flat reading). The economy advanced 1.1% last year, slowing from a 2.1% rise in 2021 due to lingering global headwinds.
2023-05-16