The Japanese economy advanced a record 5.3 percent on quarter in the three months to September of 2020, better than the initial estimate of a 5 percent expansion, and recovering from a revised 8.3 percent slump in the previous period. Private consumption rebounded firmly (5.1 percent vs -8.3 percent in Q2) while public spending rose at a faster pace (2.8 percent vs 0.3 percent). At the same time, gross fixed capital formation contracted at a much softer rate (-2.3 percent vs -3.2 percent). Net trade contributed positively to growth, as exports increased 7.0 percent (from -17.1 percent in Q2) while imports dropped 8.8 percent (from 1.4 percent in Q2). source: Cabinet Office, Japan
GDP Growth Rate in Japan averaged 0.43 percent from 1980 until 2020, reaching an all time high of 5.30 percent in the third quarter of 2020 and a record low of -8.30 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 February of 2021.
GDP Growth Rate in Japan is expected to be 0.80 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 0.60 in 12 months time. In the long-term, the Japan GDP Growth Rate is projected to trend around 0.50 percent in 2021, according to our econometric models.