Japan GDP Growth Rate (Real, Quarterly)
Gross domestic product (GDP) is the total value of goods and services produced in Japan. This page shows the quarter-on-quarter change in real (inflation-adjusted), seasonally adjusted GDP, expressed as an annual rate, together with two major components of domestic demand: private consumption and business investment (private non-residential investment).
📖 How to read this indicator
An annualized rate shows what growth would be if the pace of that quarter continued for a full year, so it is roughly four times the plain quarter-on-quarter change. Quarterly figures are volatile and are revised with each release, so it is better to look at several quarters together. Two consecutive quarters of negative growth are often called a technical recession. Private consumption makes up more than half of Japan's GDP, which makes it the main driver to watch.
Data table
| Quarter | Real GDP | Private consumption | Business investment |
|---|---|---|---|
| Q2 2026 | 1.4% | 0.0% | -0.7% |
| Q1 2026 | 1.9% | 1.0% | -0.8% |
| Q4 2025 | 1.1% | 0.3% | 1.0% |
| Q3 2025 | -1.5% | 1.2% | -0.2% |
| Q2 2025 | 0.5% | 0.3% | 1.0% |
| Q1 2025 | 2.0% | 1.3% | 0.9% |
| Q4 2024 | 1.6% | 0.0% | -0.6% |
| Q3 2024 | 3.4% | 1.1% | 0.7% |
| Q2 2024 | -0.5% | 0.0% | 0.8% |
| Q1 2024 | -0.4% | -0.5% | -0.5% |
| Q4 2023 | 1.9% | 0.0% | 1.2% |
| Q3 2023 | -4.9% | -1.5% | -0.2% |
| Q2 2023 | 0.3% | -2.0% | -0.9% |
| Q1 2023 | 3.5% | 1.1% | 1.4% |
| Q4 2022 | 2.0% | 0.6% | -0.1% |
| Q3 2022 | -1.1% | 0.0% | 0.9% |
| Q2 2022 | 3.9% | 3.4% | 1.7% |
| Q1 2022 | -1.7% | -1.9% | 0.4% |
| Q4 2021 | 4.8% | 6.2% | 0.1% |
| Q3 2021 | -0.8% | -1.9% | -0.9% |
| Q2 2021 | 2.4% | 1.3% | 0.7% |
| Q1 2021 | 4.8% | -1.5% | 1.7% |
| Q4 2020 | 6.8% | 3.9% | 1.4% |
| Q3 2020 | 21.7% | 11.7% | 0.7% |
| Q2 2020 | -25.8% | -14.7% | -4.4% |
| Q1 2020 | 1.3% | 0.3% | 2.3% |
| Q4 2019 | -11.0% | -7.4% | -4.5% |
| Q3 2019 | 0.3% | 1.6% | 1.6% |
| Q2 2019 | 1.7% | -0.1% | 0.0% |
| Q1 2019 | 0.3% | -0.8% | 0.3% |
| Q4 2018 | 0.3% | 0.1% | 1.6% |
| Q3 2018 | -1.9% | 0.4% | -1.9% |
| Q2 2018 | 2.6% | 0.2% | 1.9% |
| Q1 2018 | -0.7% | -0.6% | 0.4% |
| Q4 2017 | 0.6% | 0.9% | 0.4% |
| Q3 2017 | 4.7% | -0.6% | 1.0% |
| Q2 2017 | 1.3% | 1.4% | 0.5% |
| Q1 2017 | 2.9% | 0.7% | 0.4% |
| Q4 2016 | 0.0% | 0.3% | 0.5% |
| Q3 2016 | 0.9% | 1.0% | 0.3% |
| Q2 2016 | -1.2% | -1.6% | -0.1% |
| Q1 2016 | 3.4% | 0.3% | -0.3% |
| Q4 2015 | -0.8% | -1.2% | 0.1% |
| Q3 2015 | 0.6% | 0.8% | 0.4% |
| Q2 2015 | 0.4% | 0.1% | 0.0% |
| Q1 2015 | 6.4% | 1.6% | 2.9% |
| Q4 2014 | 2.3% | 0.5% | 0.5% |
| Q3 2014 | 0.8% | 1.6% | 1.2% |
| Q2 2014 | -5.4% | -10.4% | -0.8% |
| Q1 2014 | 4.1% | 4.7% | 2.3% |
FAQ
What does annualized GDP growth mean?
It converts the quarter-on-quarter change into the rate that would result if the same pace continued for a year. Japan's headline GDP figures are usually reported both as a quarter-on-quarter change and as an annualized rate.
Who publishes Japan's GDP?
The Economic and Social Research Institute of the Cabinet Office publishes the quarterly GDP estimates. The first preliminary estimate is released about six weeks after the end of each quarter.