December 09, 2019

Japan Real Gross Domestic Product

After four growing quarters, the next October-December quarter will be a mess

Published quarterly by the Cabinet Office. Updated till the quarter of July-September 2019 (Second Preliminary estimate published on December 9th, 2019).

Recent data trend

The Japanese economy grew by 0.4% quarter on quarter (QoQ) in the July-September 2019, marking the 4th consecutive quarter of positive growth. The year on year growth of 1.7% is the highest since the 2018 January-March quarter. Net exports contributed negatively, pulling down the QoQ growth rate by 0.2%, but the robust growth in private consumption and private capital expenditure were powerful enough to offset the negative factor. Unfortunately, the positive growth streak will end in this qua...

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Brief overview of "GDP"

Gross Domestic Product (GDP) measures the market value of economic activities within a country, in our case, Japan. It includes some non-market services such as government services and imputed rents for owner-occupied dwellings, but it generally does not include unpaid activities such as volunteer and unpaid housework.     

Japan’s GDP was 475.7 trillion yen in 2012. Using the average USD/JPY rate of 79.8 for 2012, it translates into 5.96 trillion USD, placing Japan as the third largest economy after U.S. (15.68 trillion USD) and China (8.22 trillion USD). Germany was the 4th largest with a GDP of 3.4 trillion USD. In Japan, private consumption accounts for 60.9% of its GDP, followed by government consumption (20.5%) and private non-residential investment (13.4%). Exports and imports account for 14.7% and 16.6% respectively.

Japan’s GDP has been on a declining trend since 1997 when it was 523.5 trillion yen. The decline is due to low real growth (0.6% per year on average between 1997-2012) and outright deflation (-1.2% per year on average between 1997-2012).

For more information, visit the official government page

Real GDP-Annual data

Source: Cabinet Office, JMA.

The Next Release Date: First Preliminary estimate for October-December 2019: February 17th, 2020.

                                   Second Preliminary estimate for October-December 2019: March 9th, 2020.  










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