The Japanese economy shrank 7.9% on quarter in Q2 2020, compared with the preliminary reading of a 7.8% decline and market consensus of an 8.1% drop, and after a 0.6% fall in Q1. This was the third straight quarter of contraction and the steepest on record, amid the severe impact of the COVID-19 crisis. Private consumption tumbled, falling for the third straight quarter (-7.9% vs -0.7% in Q1); government spending dropped the most in four years (-0.6% vs flat reading); and capital expenditure slumped (-4.7% vs 1.7% gain in Q1) and worse than estimates of a 3.1% fall. In addition, net external demand subtracted 3.0 percentage points off growth, with exports falling the most since Q1 2009 (-18.5% vs -5.4% in Q1) and imports declining for the third straight quarter (-0.5% vs -4.2%). On an annualized basis, the economy collapsed at a record 28.1% in Q2, compared with forecasts of a 28.6% slump.

GDP Growth Rate in Japan averaged 0.41 percent from 1980 until 2020, reaching an all time high of 3.20 percent in the second quarter of 1990 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 October of 2020. source: Cabinet Office, Japan

GDP Growth Rate in Japan is expected to be 3.80 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 1.50 in 12 months time. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.60 percent in 2021 and 0.50 percent in 2022, according to our econometric models.

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Japan GDP Growth Rate

Actual Previous Highest Lowest Dates Unit Frequency
-7.90 -0.60 3.20 -7.90 1980 - 2020 percent Quarterly
SA


Calendar GMT Actual Previous Consensus TEForecast
2020-06-07 11:50 PM QoQ Final Q1 -0.6% -1.9% -0.5% -0.9%
2020-08-02 11:50 PM QoQ Final Q1 -0.6% -1.9% -0.6%
2020-08-16 11:50 PM QoQ Prel Q2 -7.8% -0.6% -7.6% -6.5%
2020-09-07 11:50 PM QoQ Final Q2 -7.9% -0.6% -8.1% -8%
2020-11-15 11:50 PM QoQ Prel Q3 -7.9% 3.8%
2020-12-07 11:50 PM QoQ Final Q3 -7.9% 3.8%


News Stream
Japan GDP Plunges More than Estimated
The Japanese economy shrank 7.9% on quarter in Q2 2020, compared with the preliminary reading of a 7.8% decline and market consensus of an 8.1% drop, and after a 0.6% fall in Q1. This was the third straight quarter of contraction and the steepest on record, amid the severe impact of the COVID-19 crisis. Private consumption tumbled, falling for the third straight quarter (-7.9% vs -0.7% in Q1); government spending dropped the most in four years (-0.6% vs flat reading); and capital expenditure slumped (-4.7% vs 1.7% gain in Q1) and worse than estimates of a 3.1% fall. In addition, net external demand subtracted 3.0 percentage points off growth, with exports falling the most since Q1 2009 (-18.5% vs -5.4% in Q1) and imports declining for the third straight quarter (-0.5% vs -4.2%). On an annualized basis, the economy collapsed at a record 28.1% in Q2, compared with forecasts of a 28.6% slump.
2020-09-08
Japan Q2 GDP Plunges at Record Pace
The Japanese economy shrank 7.8 percent on quarter in the three months to June 2020, compared with market forecasts of a 7.6 percent decline, and after a 0.6 percent fall in the previous period, a preliminary estimate showed. This was the third straight quarter of contraction and the steepest on record, amid the severe impact of the COVID-19 crisis. There were declines in private consumption (-8.2 percent vs -0.8 percent in Q1), capital expenditure (-1.5 percent vs 1.7 percent), and government spending (-0.3 percent vs flat reading). In addition, net external demand subtracted 3.0 percentage points off growth, with exports falling the most since Q1 2009 (-18.5 percent vs -5.4 percent) and imports dropping for a third straight quarter (-0.5 percent vs -4.2 percent). On an annualized basis, the economy collapsed 27.8 percent in the June quarter, the deepest on record, compared to consensus of a 27.2 percent slump.
2020-08-17
Japan Q2 GDP Contracts 0.6% QoQ
The Japanese economy shrank 0.6 percent on quarter in the three months to March 2020, unrevised from the preliminary estimate, and following a 1.9 percent fall in the previous period. This was the first recession since 2015, as the COVID-19 crisis took a huge toll on activity and demand. Private consumption fell for the second straight quarter (-0.8 percent vs -3.0 percent in Q4), while government spending was flat (vs 0.2 percent in Q4) and public investment dropped for the first time in five quarters (-0.6 percent vs 0.5 percent). Net external demand subtracted 0.2 percentage points from growth as exports fell more than imports. Meanwhile, capital expenditure rose by 1.7 percent, compared with a 4.8 percent drop in Q4. On an annualized basis, the economy contracted 2.2 percent in the first quarter.
2020-08-03
Japan GDP Contracts Less than Expected in Q1
The Japanese economy shrank 0.6% on quarter in Q1 2020, compared with the preliminary estimate of a 0.9% contraction and market consensus of a 0.5% decline. This was the first recession since 2015, as the COVID-19 crisis took a huge toll on activity and demand. Private consumption fell slightly more than anticipated (-0.8% vs -0.7% in the preliminary estimate), while there was a significant upward revision of capital expenditure (1.9% vs -0.5%). Meantime, government spending was flat (vs 0.1% in the preliminary estimate), with public investment dropping for the first time in five quarters (-0.6%). At the same time, net external demand subtracted 0.2 percentage points from growth as exports (-6%) fell more than imports (-4.9%). On an annualized basis, the economy contracted 2.2 % in Q1, less than the initial reading of a 3.4% contraction and compared with consensus of a 2.1% fall.
2020-06-07

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.