Nominal GDP for Japan was ¥542.1tn in 2021, down from ¥538.3tn in 2020. The Japanese population was estimated at 126.5m in 2021 according to the IMF, while China is Japan’s biggest trading partner.

Variables Surveyed for Japan

Variables covered in our monthly analysis of Japan include:

  • Gross Domestic Product
  • Private Consumption
  • Business Investment
  • Industrial Production
  • Consumer Prices (CPI)
  • Core-Core Consumer Prices
  • Domestic Corporate Prices
  • Total Cash Earnings
  • New Car Registrations
  • Housing Starts
  • Unemployment Rate
  • Current Account
  • General Government Budget Balance
  • Interest rates
  • Yen Currency Forecasts

Consensus Forecasts for Japan

Individual panellist forecasts are shown for each of the variables surveyed, along with the consensus (mean) forecast. The rows of forecasts are ranked by the GDP growth estimate for the current year, highest to lowest. In the hard copy and pdf version of the publication, we also show selected “comparison forecasters”  including the IMF and OECD. The table below shows a small example set of forecasts for GDP growth and Consumer Prices (CPI), taken from our survey of September 2022.

Source: Conensus Forecasts – G-7 and Western Europe, September 2022

Special Surveys

In addition to the regular surveys for the variables listed above we also undertake a number of Special Surveys for Japan on topics such as:

Main Data Sources for Japan

  • Japan Statistics Bureau: The Statistics Bureau and the Director-General for Policy Planning (Statistical Standards) of Japan play the central role in the official statistical system in producing and disseminating basic official statistics such as Population Census, and coordinating statistical work under the Statistics Act and other legislation.
  • Bank of Japan: The Bank of Japan is the central bank of Japan.The Act sets the Bank's objectives "to issue banknotes and to carry out currency and monetary control" and "to ensure smooth settlement of funds among banks and other financial institutions, thereby contributing to the maintenance of stability of the financial system."

Comprehensive Forecasts Coverage

Consensus Economics has collected forecasts for more than 30 years, building up a comprehensive catalogue of historical forecasts data. Please enquire at editors@consensuseconomics.com should you wish to find out more about these data offerings, pricing and the different platforms by which you can access them.