Japan's GDP grew by 0.1% qoq in Q4 of 2023, compared with flash data of a 0.1% fall and a 0.8% contraction in Q3. The economy narrowly escaped a recession as markets expected a 0.3% rise, helped by a strong upward revision of capital expenditure (2.0% vs the preliminary print and Q3 figure of a 0.1% fall, and market consensus of a 2.5% rise). Also, net trade contributed positively (0.2 percentage points, unchanged from the flash print), with exports (2.6% vs 0.9% in Q2) growing stronger than imports (1.7% vs 1.0%). Meanwhile, private consumption, which accounts for about 60% of the economy, shrank for the third straight quarter (-0.3% vs the initial reading of a 0.2% drop and after a 0.3% fall in Q3), due to elevated cost pressure and persistent headwinds at home. Also, government spending fell more than initially anticipated (-0.2% vs -0.1% in flash data, after a 0.3% rise in Q3), as did public investment (-0.8% vs -0.7% in the first estimate and after a 1.0% decrease in Q3). source: Cabinet Office, Japan

The Gross Domestic Product (GDP) in Japan expanded 0.10 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2023, reaching an all time high of 5.50 percent in the third quarter of 2020 and a record low of -7.80 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 May of 2024.

The Gross Domestic Product (GDP) in Japan expanded 0.10 percent in the fourth quarter of 2023 over the previous quarter. GDP Growth Rate in Japan is expected to be 0.10 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 0.40 percent in 2025, according to our econometric models.



Calendar GMT Reference Actual Previous Consensus TEForecast
2024-02-14 11:50 PM QoQ Prel Q4 -0.1% -0.8% 0.3% 0.4%
2024-03-10 11:50 PM QoQ Final Q4 0.1% -0.8% 0.3% 0.2%
2024-05-15 11:50 PM QoQ Prel Q1 0.1% 0.1%


Related Last Previous Unit Reference
Full Year GDP Growth 1.90 1.00 percent Dec 2023
GDP Annual Growth Rate 1.20 1.60 percent Dec 2023
GDP Constant Prices 558510.00 557983.40 JPY Billion Dec 2023
GDP from Agriculture 5694.10 5135.00 JPY Billion Dec 2022
GDP from Construction 27112.90 28905.10 JPY Billion Dec 2022
GDP from Manufacturing 119500.70 120738.70 JPY Billion Dec 2022
GDP from Mining 293.10 337.90 JPY Billion Dec 2022
GDP from Public Administration 27694.40 27401.70 JPY Billion Dec 2022
GDP from Services 20017.00 19858.70 JPY Billion Dec 2022
GDP from Transport 24596.80 21537.50 JPY Billion Dec 2022
GDP from Utilities 17299.60 16286.10 JPY Billion Dec 2022
GDP Growth Annualized 0.40 -3.20 percent Dec 2023
GDP Growth Rate 0.10 -0.80 percent Dec 2023
GDP Capital Expenditure 136105.20 134721.80 JPY Billion Dec 2023
Gross National Product 581376.80 580132.30 JPY Billion Dec 2023

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
0.10 -0.80 5.50 -7.80 1980 - 2023 percent Quarterly
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News Stream
Japan Avoids Recession in Q4
Japan's GDP grew by 0.1% qoq in Q4 of 2023, compared with flash data of a 0.1% fall and a 0.8% contraction in Q3. The economy narrowly escaped a recession as markets expected a 0.3% rise, helped by a strong upward revision of capital expenditure (2.0% vs the preliminary print and Q3 figure of a 0.1% fall, and market consensus of a 2.5% rise). Also, net trade contributed positively (0.2 percentage points, unchanged from the flash print), with exports (2.6% vs 0.9% in Q2) growing stronger than imports (1.7% vs 1.0%). Meanwhile, private consumption, which accounts for about 60% of the economy, shrank for the third straight quarter (-0.3% vs the initial reading of a 0.2% drop and after a 0.3% fall in Q3), due to elevated cost pressure and persistent headwinds at home. Also, government spending fell more than initially anticipated (-0.2% vs -0.1% in flash data, after a 0.3% rise in Q3), as did public investment (-0.8% vs -0.7% in the first estimate and after a 1.0% decrease in Q3).
2024-03-10
Japan Unexpectedly Enters Recession in Q4
Japan's GDP unexpectedly shrank 0.1% qoq in Q4 of 2023, missing market forecasts of a 0.3% growth and following a revised 0.8% fall in Q3, flash data showed. The economy fell into a recession for the first time in five years, as private consumption, which accounts for more than half of the economy, declined for the third successive quarter amid elevated cost pressure and lingering global headwinds (-0.2% vs -0.3% in Q3). At the same time, capital expenditures were muted (-0.1% vs - 0.6%) while public investment decreased further (-0.7% vs -1.0%). Simultaneously, government spending edged down 0.1% after rising 0.3% in the prior period. On the bright side, net trade contributed positively, with exports (2.6% vs 0.9%) growing stronger than imports (1.7% vs 1.0%).
2024-02-15
Japan Q3 GDP Shrinks More than Initially Anticipated
The Japanese economy shrank 0.7% qoq in Q3 of 2023, compared with a flash figure of a 0.5% contraction and after a downwardly revised 0.9% growth in Q2. It was the first GDP contraction since Q3 of 2022, amid elevated cost pressure and mounting global headwinds. There were declines in both private consumption (-0.2%, compared with a flat reading in preliminary data and Q2 figure of a 0.6% drop) and capital expenditures (-0.4%, compared with a 0.6% fall in a flash reading and Q2 print of a 1.3% decline). Also, public investment decreased more than initially thought (-0.8%, compared with a 0.5% fall in preliminary print and after a 1.5% growth in Q2). Net trade was also a drag on the GDP, as exports (0.4% vs 3.8% in Q2) rose less than imports (0.8% vs -3.3%). Meantime, government spending rose 0.3%, in line with preliminary figures and after a 0.1% decrease in Q2.
2023-12-08