Japan's GDP grew by 0.2% quarter-on-quarter in Q3 2024, moderating from a downwardly revised 0.5% increase in Q2 while aligning with market forecasts, preliminary data showed. The latest result marked the second consecutive quarterly expansion, yet highlighted a fragile economic recovery amid growing external headwinds. Business investment shrank by 0.2%, following a robust expansion of 0.9% previously, in line with expectations. Concurrently, net trade subtracted 0.4 percentage points, as exports (0.4% vs 2.6%) rose much less than imports (2.1% vs 2.9%). At the same time, private consumption, which accounts for more than half of the economic output, rose further (0.9% vs 0.7% in Q2), easily exceeding the consensus of a 0.2% growth, driven by rising wages. Meanwhile, government spending logged its third straight quarter of rise (0.5% vs 0.1%), reflecting efforts to mitigate the impact of natural disasters during the summer. source: Cabinet Office, Japan

The Gross Domestic Product (GDP) in Japan expanded 0.20 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Japan averaged 0.42 percent from 1980 until 2024, reaching an all time high of 5.60 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 November of 2024.

The Gross Domestic Product (GDP) in Japan expanded 0.20 percent in the third quarter of 2024 over the previous quarter. GDP Growth Rate in Japan is expected to be 0.50 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 0.60 percent in 2025 and 0.40 percent in 2026, according to our econometric models.




Calendar GMT Reference Actual Previous Consensus TEForecast
2024-09-08 11:50 PM QoQ Final Q2 0.7% -0.6% 0.8% 0.8%
2024-11-14 11:50 PM QoQ Prel Q3 0.2% 0.5% 0.2% 0.3%
2024-12-08 11:50 PM QoQ Final Q3 0.7% 0.3%


Related Last Previous Unit Reference
Full Year GDP Growth 1.90 1.00 percent Dec 2023
GDP Annual Growth Rate 0.30 -1.10 percent Sep 2024
GDP Constant Prices 558505.50 557253.40 JPY Billion Sep 2024
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 0.90 2.20 percent Sep 2024
GDP Growth Rate 0.20 0.50 percent Sep 2024
GDP Capital Expenditure 137409.40 137831.10 JPY Billion Sep 2024
Gross National Product 587812.80 585671.90 JPY Billion Sep 2024

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
0.20 0.50 5.60 -7.80 1980 - 2024 percent Quarterly
SA


News Stream
Japan Q3 GDP Growth Slows as Expected
Japan's GDP grew by 0.2% quarter-on-quarter in Q3 2024, moderating from a downwardly revised 0.5% increase in Q2 while aligning with market forecasts, preliminary data showed. The latest result marked the second consecutive quarterly expansion, yet highlighted a fragile economic recovery amid growing external headwinds. Business investment shrank by 0.2%, following a robust expansion of 0.9% previously, in line with expectations. Concurrently, net trade subtracted 0.4 percentage points, as exports (0.4% vs 2.6%) rose much less than imports (2.1% vs 2.9%). At the same time, private consumption, which accounts for more than half of the economic output, rose further (0.9% vs 0.7% in Q2), easily exceeding the consensus of a 0.2% growth, driven by rising wages. Meanwhile, government spending logged its third straight quarter of rise (0.5% vs 0.1%), reflecting efforts to mitigate the impact of natural disasters during the summer.
2024-11-15
Japan Q2 GDP Growth Revised Slightly Lower
Japan's GDP grew by 0.7% qoq in Q2 of 2024, compared with flash data and market estimates of a 0.8% rise and after a marginally revised 0.6% fall in Q1. It was the strongest quarterly growth since Q2 of 2023, helped by the success of spring wage negotiations that saw the highest average pay in over 30 years, and a recovery in the automotive industry after scandals involving some big automakers. There was just a slight downward revision for private consumption growth (0.9%, compared with preliminary data of a 1.0% gain and Q1 figure of a 0.6% fall). Also, business investment rose by 0.8%, less than a flash print of a 0.9% rise and after a 0.5% fall in Q1. Meanwhile, government spending increased by 0.1%, matching a preliminary reading despite its growth rate softening from a 0.3% growth in Q1. Net trade subtracted 0.1% percentage points, as exports (1.5% vs -4.6%) rose less than imports (1.7% vs -2.5%).
2024-09-08
Japan Economy Rebounds Strongly in Q2
Japan's GDP expanded 0.8% qoq in Q2 of 2024, above market forecasts of 0.5% and a reversal from a 0.6% fall in Q1, preliminary data showed. It was the strongest quarterly growth since Q1 of 2023, with private consumption, which accounts for more than half of the economy, rising for the first time in five quarters (1.0% vs -0.6% in Q1), easily topping the consensus of a 0.5% rise and coming after spring wage negotiations that saw an average pay raise of 5.17% in the country, the highest in over 30 years. Also, business investment bounced back (0.9% vs -0.3%), in line with expectations, due to robust corporate earnings and a recovery in the automotive industry following scandals involving some big automakers. Meanwhile, government spending continued to increase despite its growth rate softening (0.1% vs 0.3%). Net trade subtracted 0.1% percentage points, as exports (1.4% vs -4.6%) rose less than imports (1.7% vs -2.5%).
2024-08-14