In, IMF. * All products require an annual contract; Prices do not include sales tax. Chart. Profit from additional features by authenticating your Admin account. April 15, 2020. and over 1 Mio. Japan Housing Starts Drop More than Expected, Japan Consumer Morale Improves in October, Japan Retail Sales Drop Much More than Expected, Colombia Exports Continue to Drop in September, Canada Government Budget Deficit Widens Sharply in August, Chile Retail Sales Rise the Most in 7 Years, Brazilian Real Hovers at Over 5-Month Lows, Spain Current Account Surplus Falls by Near 300%, US Consumer Sentiment Reamins Strongest Since March, Loonie Rises from 1-Month Low on GDP Data, Mexican Peso Rises from 2-Week Low on Upbeat Data. Economists also fear that the planned increase in Japan’s consumption tax could crush domestic spending. Like in most developed countries, services account for the highest percentage of GDP (around 62 percent of GDP). IMF. New, Everything you need to know about the industry development, Find studies from all around the internet. WDI Tables. Statista. Manufacturing is the engine of the Japanese economy and accounts for nearly 22 percent of GDP. Please authenticate by going to "My account" → "Administration". Within services the most important once are wholesale and retail trade (around 7 percent of GDP) and real estate (around 6 percent of GDP). Economists worry that an increase in the national consumption tax, slated for October, could tip the country into recession. Overview and forecasts on trending topics, Key figures and rankings about brands and companies, Consumer insights and preferences in various industries, Detailed information about political and social topics, All key figures about regions and countries, Everything you need to know about Consumer Goods, Identify market potentials of the digital future, Technology Market Outlook Quick Analysis with our professional Research Service: Content Marketing & Information Design for your projects: According to the source, due to the high level of uncertainty in current global economic conditions, the IMF projections for these indicators are provided only through 2021. Please do not hesitate to contact me. “Given the global collapse of exports, you’d expect Japan to be doing much worse.”, She added, “The big question going forward: Is there a straw that breaks that camel’s back?”, Japan Posts Surprising Growth, but Economic Threats Loom. Friday’s report suggested Japan still has significant strengths despite a worsening global situation. 1981-2020 Data | 2021-2022 Forecast | Historical. Japan: Real gross domestic product (GDP) growth rate from 2009 to 2021 (compared to the previous year) [Graph]. “For a very export-driven economy, it’s actually holding up pretty well,” Ms. Devalier said. Please contact us to get started with full access to dossiers, forecasts, studies and international data. The turnaround followed the 2012 election of Prime Minister Shinzo Abe, who introduced a program of loose monetary policy, heavy government spending and changes aimed at expanding work force participation and loosening up an often sclerotic corporate culture. For comparison, the GDP growth rate of China had reached about 6.1 percent that same year. That could drive up the price of Japanese exports and further weaken demand for the country’s goods, as well as take a bite out of corporate profits. Facebook: number of monthly active users worldwide 2008-2020, Smartphone market share worldwide by vendor 2009-2020, Number of apps available in leading app stores 2020, Big Mac index - global prices for a Big Mac 2020, Profit from additional features with an Employee Account. In 2019, Japan's GDP increased by 0.65 percent compared to the previous year. Country. Companies like Samsung and LG, which are pillars of South Korea’s economy, rely on Japanese suppliers for components and materials used in a wide range of products from smartphones to refrigerators. Those problems have been exacerbated by the growing trade war between Washington and Beijing. That might have only a temporary effect on Japanese manufacturers, Mr. Arita said, but “its effect on inbound tourism is a reason for concern.”. Japan has so far managed to avoid the worst of President Trump’s tariff threats, with Mr. Abe persuading him to hold off on a decision to impose duties on Japanese automobiles until later this year. Please create an employee account to be able to mark statistics as favorites. You only have access to basic statistics. As the global economic outlook dims, it is not clear how much longer Japan’s streak can be sustained. Looking forward, we estimate GDP Annual Growth Rate in Japan to stand at 4.00 in 12 months time. Direct access to our calendar releases and historical data. In the nearer term, the economy could get a boost this quarter as consumers buy big-ticket items hoping to get out ahead of the rise. New, Figures and insights about the advertising and media world, Industry Outlook Whether that will happen remains a big question. The Trading Economics Application Programming Interface (API) provides direct access to our data. Making matters worse, Japan’s government set off its own trade war in July when it decided to increase controls on the export to South Korea of certain chemicals used to make advanced electronic components, such as semiconductors and certain kinds of flat screens. Japan’s economy, the third largest in the world behind the United States and China, grew at an annualized rate of 1.8 percent in the second quarter of 2019, according to data released on Friday by the country’s cabinet. Corporate solution including all features. Thematic data tables from WDI. This feature is limited to our corporate solutions. 1 Real GDP contracted in Q4 2019 after a consumption tax was implemented in October, and another contraction was recorded in Q1 this year. But fears that China could use the value of its currency as a way to strike back at Mr. Trump have unsettled markets. TOKYO — Japan’s growth showed surprising strength in the three months that ended in June, but the country faces its most serious economic challenges in years. The benchmark Topix stock index slid … The impact this time is unlikely to be as severe, said Kazuyoshi Nakata, senior economist at Mitsubishi UFJ Research & Consulting, but “there’s a possibility” that the economy could shrink in the last three months of the year. Japan entered the pandemic already mired in recession. GDP (current US$) - Japan from The World Bank: Data.
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