GDP per capita in Japan

Japan GDP per capita (USD) | Economic News & Forecasts

Japan - GDP per capita (U.S. Dollars)

Stronger private consumption and investment boost Q4 GDP

The Japanese economy grew at a faster rate than previously reported in Q4 as private consumption managed to grow mildly and investment recorded a healthy expansion, according to revised data released on 8 March. GDP rose 1.2% in Q4 over the previous quarter in seasonally adjusted annualized terms (SAAR), which was above the 1.0% increase reported in the first release. The print matched Q3’s result and represented the fourth consecutive positive reading. On an annual basis, economic activity rose 1.6% in Q4. The print was down from the 1.7% increase reported in the first estimate and marked an acceleration from Q3’s 1.1% rise.

The upwardly-revised figure reflected that, although weak wage growth continues to weigh on private consumption, it still expanded a slight 0.2% in Q4, up from the flat reading in the first estimate. A declining unemployment rate is positively contributing to shoring up household spending. Unlike private consumption, investment remains strong on the back of healthy demand for Japanese goods and the Central Bank’s accommodative monetary policy. Growth in gross fixed capital formation was revised up from 1.1% in the first release to 3.4% in the second estimate. On the downside, public consumption steadied at 1.0% in the second estimate, down from 1.6% in the initial release. The contribution from the external sector to overall growth was unchanged.

Despite the upward revision, the reading fell short of the 1.7% growth that market participants had expected. As a result, analysts are wary that the specter of an economic downturn is becoming more real than before as private consumption remains sluggish. Moreover, downside risks could quickly materialize if the Trump administration adopts a more restrictive trade policy that could hit Japan’s all-important external sector.

The Bank of Japan (BoJ) expects the economy to expand between 1.3% and 1.6% in the fiscal year 2017, which ends in March 2018. In the subsequent fiscal year, the BoJ sees GDP growth of between 1.0% and 1.2%. FocusEconomics Consensus Forecast panelists see GDP expanding 1.0% in calendar year 2017, which is up 0.1 percentage points from last month’s projection. In 2018, the panel sees the economy growing 0.8%.

Japan - GDP per capita (USD) Data

2011  2012  2013  2014  2015  
GDP per capita (USD)48,415  48,746  40,110  38,346  34,457  

Sample Report

5 years of economic forecasts for more than 30 economic indicators.


Japan Facts

Bond Yield0.0422.86 %May 10
Exchange Rate114.30.26 %May 10
Stock Market19,9000.29 %May 10

Sample Report

Get a sample report showing all the data and analysis covered in our Regional, Country and Commodities reports.


Start Your Free Trial

Start working with the reports used by the world’s major financial institutions, multinational enterprises & government agencies now. Click on the button below to get started.

Sign Up

Economic News

Search form