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Explore Japan's latest macroeconomic trends and forecasts to inform business strategy and pinpoint opportunities and risks

Real GDP of Japan (2010 - 2021, $ Billion)

Japan's real GDP reached $6,096 billion in 2021, up 1.8% from the previous year
In terms of Real GDP, the US, China, Japan, Germany, and India are the leading economies in the world
COVID-19, the Russia-Ukraine war, and rising inflation have caused a slowdown in the global economic growth

Overview of Japan’s Real GDP

Japan is the second-largest economy in Asia and the third-largest in the world. In 2021, Japan's real GDP reached $6.1 trillion, up 1.8% yearly. Between 2010 and 2021, Japan's economy expanded by 0.5%. However, an increase in COVID-19 cases, rising inflation, and conflict between Russia and Ukraine dimmed Japan's growth outlook.

Outlook on Global Economy

Real GDP refers to base year prices, which include inflation. Changes in real GDP indicate the increase or decrease in the volume of economic activity and measure economic growth.

The US, China, Japan, Germany, and India are the world's top five economies in terms of real GDP. The real GDP of the US was the highest, with a value of $18.6 trillion in 2021, followed by China with a value of $12.7 trillion. The other two largest economies are Germany and India, with real GDPs of $3.8 trillion and $2.9 trillion, respectively.

Factors Affecting the Global Economy

A rise in COVID-19 cases:

More cases have been reported globally due to Omicron, a new COVID-19 variant, which has disrupted supply chain management. However, the worldwide vaccination campaign has decreased COVID-19 fatalities.

Russia-Ukraine war:

Global economic expansion will be hampered by a protracted conflict between Russia and Ukraine. Due to the war, trade and investment have suffered because Russia has been subjected to economic sanctions, and several significant corporations have ceased operations there.

Rising Inflation and Interest Rates:

The inflation rate in developing and advanced economies have been rising, causing central banks to tighten monetary policy and raise interest rates to control price rises. However, a sustained rise in interest rates could push some economies into financial distress.

Explore Japan's latest macroeconomic trends and forecasts to inform business strategy and pinpoint opportunities and risks Explore Japan's latest macroeconomic trends and forecasts to inform business strategy and pinpoint opportunities and risks Visit Report Store