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By late 2005, the economy finally began what seems to be a sustained recovery. GDP growth for that year was 2.8%, with an annualized fourth quarter expansion of 5.5%, surpassing the growth rates of the US and European Union during the same period. [127] Unlike previous recovery trends, domestic consumption has been the dominant factor of growth.
According to the IMF, the country's per capita GDP (PPP) was at $55,600 (2025). [5] [26] Due to a volatile currency exchange rate, Japan's nominal GDP as measured in American dollars fluctuates sharply. Being a founding member of the G7 and an early member of the OECD, Japan was the first country in Asia to achieve developed country status.
The OECD reported that Japan's real GDP is expected to expand by 0.7 per cent in 2015. This growth rate is lower than US's 2.0 and UK's 2.4. [69] In the third quarter of 2015 the Japanese economy contracted 0.8 percent in annual terms and went into a technical recession as the real GDP shrank for two quarters consecutively. [70]
The article lists the GDP of Japanese prefectures in main fiscal years, where all figures are obtained from the Statistics Bureau of Japan (日本統計局).Calculating GDP of Japanese prefectures is based on Japanese yen (JP¥), for easy comparison, all the GDP figures are converted into United States dollar (US$) or Renminbi (CN¥) according to current annual average exchange rates.
There are many examples of countries that have converged with developed countries which validate the catch-up theory. [5] Based on case studies on Japan, Mexico and other countries, Nakaoka studied social capabilities for industrialization and clarified the features of human and social attitudes in the catching-up process of Japan in the Meiji period (1868-1912).
The Lost Decades are a lengthy period of economic stagnation in Japan precipitated by the asset price bubble's collapse beginning in 1990. The singular term Lost Decade (失われた10年, Ushinawareta Jūnen) originally referred to the 1990s, [1] but the 2000s (Lost 20 Years, 失われた20年) [2] and the 2010s (Lost 30 Years, 失われた30年) [3] [4] [5] have been included by commentators ...
Equally impressive is the growth of real wages between 1980 and 1992, with average wages in newly industrialized Asian countries increasing at a rate of 5 percent a year, whereas at the same time employment in manufacturing increased by 6 percent a year. The growth period in East Asian countries saw a large improvement in overall standards of ...
The economic growth rate is typically calculated as real Gross domestic product (GDP) growth rate, real GDP per capita growth rate or GNI per capita growth. The "rate" of economic growth refers to the geometric annual rate of growth in GDP or GDP per capita between the first and the last year over a period of time. This growth rate represents ...