The Japanese economy grew by 0.5 percent quarter-on-quarter in the three months to March 2019, easily beating market expectations of a 0.1 percent contraction and following a downwardly revised 0.4 percent advance in the previous period, a preliminary estimate showed. The expansion was mainly supported by net export gains, as imports fell faster than exports, while there were concerns about weak household consumption ahead of a looming sales tax rise. On an annualized basis, the economy grew by 2.1 percent in the first quarter, also defying market forecasts of a 0.2 percent contraction. 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
2018-12-09 11:50 PM GDP Growth Rate QoQ Final -0.6% 0.7% -0.5% -0.3%
2019-02-13 11:50 PM GDP Growth Rate QoQ Prel 0.3% -0.7% 0.4% 0.6%
2019-03-07 11:50 PM GDP Growth Rate QoQ Final 0.5% -0.6% 0.4% 0.4%
2019-05-19 11:50 PM GDP Growth Rate QoQ Prel 0.5% 0.4% -0.1% 0.1%
2019-06-09 11:50 PM GDP Growth Rate QoQ Final 0.4% 0.5% 0.5%
2019-08-08 11:50 PM GDP Growth Rate QoQ Prel 0.7%
2019-09-08 11:50 PM GDP Growth Rate QoQ Final 0.7%



Japan Economy Unexpectedly Grows in Q1

The Japanese economy grew by 0.5 percent quarter-on-quarter in the three months to March 2019, easily beating market expectations of a 0.1 percent contraction and following a downwardly revised 0.4 percent advance in the previous period, a preliminary estimate showed.

The largest contribution to the GDP growth came from net exports (0.4 percentage points), followed by changes in private inventories (0.1 percentage points), while private demand subtracted 0.1 percentage points and public demand was neutral.

Net exports contributed positively to the growth for the first time over the past 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 0.8 percent in the preceding period, due to declines in both private consumption (-0.1 percent vs 0.2 percent) and capital expenditure (-0.3 percent vs 2.5 percent).

Public demand rose 0.2 percent (vs 0.3 percent in Q4), as a rebound in public investment (1.5 percent vs -1.4 percent) offset a contraction in government spending (-0.2 percent vs 0.7 percent).

On an annualized basis, the economy grew 2.1 percent in the first quarter, following a downwardly revised 1.6 percent expansion in the previous period and also beating market expectations for a 0.2 percent contraction.


Cabinet Office | Rida Husna | rida@tradingeconomics.com
5/20/2019 9:37:01 AM



Japan GDP Last Previous Highest Lowest Unit
GDP Growth Rate 0.50 0.40 3.20 -4.80 percent [+]
GDP Annual Growth Rate 0.80 0.20 9.40 -8.80 percent [+]
GDP Growth Annualized 2.10 1.60 12.90 -17.90 percent [+]
GDP 4872.14 4949.27 6203.21 44.31 USD Billion [+]
GDP Constant Prices 537613.00 534837.70 537613.00 255945.60 JPY Billion [+]
Gross National Product 560558.10 556853.60 560558.10 260680.20 JPY Billion [+]
Gross Fixed Capital Formation 127979.30 127678.30 141805.40 71463.10 JPY Billion [+]
GDP per capita 48556.93 47660.90 48556.93 8607.70 USD [+]
GDP per capita PPP 39002.22 38282.50 39002.22 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 May of 2019.

Actual Previous Highest Lowest Dates Unit Frequency
0.50 0.40 3.20 -4.80 1980 - 2019 percent Quarterly
SA




Country Last Previous
Singapore 3.80 Mar/19
United States 3.20 Mar/19
India 1.60 Dec/18
China 1.40 Mar/19
South Africa 1.40 Dec/18
Saudi Arabia 1.07 Dec/18
Russia 0.80 Dec/18
Spain 0.70 Mar/19
Japan 0.50 Mar/19
Netherlands 0.50 Mar/19
United Kingdom 0.50 Mar/19
Euro Area 0.40 Mar/19
Germany 0.40 Mar/19
France 0.30 Mar/19
Australia 0.20 Dec/18
Italy 0.20 Mar/19
Switzerland 0.20 Dec/18
Brazil 0.10 Dec/18
Canada 0.10 Dec/18
Mexico -0.20 Mar/19
South Korea -0.30 Mar/19
Indonesia -0.52 Mar/19
Argentina -1.20 Dec/18
Turkey -2.40 Dec/18


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