GDP per capita in Japan

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

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

Economy grows quickly in Q2 but at a slower pace than originally estimated

The economy expanded at a weaker rate than previously reported in Q2, following a downward revision in domestic demand. GDP rose 2.5% over the previous quarter in seasonally-adjusted annualized (SAAR) terms—lower than the 4.0% increase originally reported but higher than Q1’s 1.2% rise. Domestic demand expanded 3.8% in Q2, much slower than the 5.2% originally reported but also higher than Q1’s 0.7% expansion. Q2’s revised rate of overall expansion undershot market analyst expectations of a 2.9% increase. Nevertheless, it represented the fastest rate of growth in more than two years. In annual terms, GDP grew 1.4% in Q2, lower than the 2.0% expansion originally reported (Q1: +1.5% year-on-year).

The downward revision in domestic demand took its toll on the Q2 quarter-on-quarter economic expansion in SAAR terms notably because gross fixed investment grew only 7.1% (previously reported: +11.7% quarter-on-quarter SAAR). While growth in private consumption was revised down slightly to 3.4% (previously reported: +3.7% qoq SAAR), it still represented the fastest pace of expansion in over 3 years, pointing to a much-needed recovery in household spending.

The external sector, on which the Japanese economy is very reliant, saw little change in Q2’s revised release. Exports contracted an unchanged 1.9% in SAAR terms compared to Q1’s 8.0% expansion because of a stronger yen. Imports expanded a slightly higher 5.7% than the 5.6% expansion originally reported, compared to Q1’s 5.4% expansion. All in all, the external sector led to a net growth contribution of minus 1.2 percentage points in Q2, worse than the originally reported net contribution of negative 1.1 percentage points (Q1: plus 0.5 percentage points).

The Bank of Japan (BoJ) expects the economy to expand between 1.5% and 1.8% in fiscal year 2017, which ends in March 2018. In the subsequent fiscal year, the BoJ sees GDP growth of between 1.1% and 1.5%. FocusEconomics Consensus Forecast panelists see GDP expanding 1.4% in calendar year 2017, which is up 0.1 percentage points from last month’s projection. In 2018, the panel sees the economy growing 1.0%, which is unchanged from last month’s forecast.

Japan - GDP per capita (USD) Data

2012  2013  2014  2015  2016  
GDP per capita (USD)48,746  40,110  38,346  34,425  39,089  

Sample Report

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

Download

Japan Facts

ValueChangeDate
Bond Yield0.07-4.41 %Oct 19
Exchange Rate112.6-0.35 %Oct 19
Stock Market21,4490.40 %Oct 19

Sample Report

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

Download

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