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Japan's GDP declines again in Q1 2021

After growing by 2.8% q/q in Q4 2020, Japan's real GDP contracted by a seasonally-adjusted 1.3% q/q in Q1 2021, resulting in a fall of 1.9% y/y and an annualised contraction of 5.1%.
After growing by 2.8% q/q in Q4 2020, Japan's real GDP contracted by a seasonally-adjusted 1.3% q/q in Q1 2021, resulting in a fall of 1.9% y/y and an annualised contraction of 5.1%.
After growing by 2.8% q/q in Q4 2020, Japan's real GDP contracted by a seasonally-adjusted 1.3% q/q in Q1 2021, resulting in a fall of 1.9% y/y and an annualised contraction of 5.1%.
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18th May 2021
Real GDP

After growing by 2.8% q/q in Q4 2020, Japan's real GDP contracted by a seasonally-adjusted 1.3% q/q in Q1 2021, resulting in a fall of 1.9% y/y and an annualised contraction of 5.1%.

After growing by 2.8% q/q in Q4 2020, Japan's real GDP contracted by a seasonally-adjusted 1.3% q/q in Q1 2021, resulting in a fall of 1.9% y/y and an annualised contraction of 5.1%.

The renewed downturn was due to the state of emergency declared between January and late March 2021 to prevent the spread of COVID-19 related infections. On an annualised basis, private consumption (accounting for approximately 60% of GDP) declined by 5.4%, and private non-residential investment by 5.5%. Government consumption and investment also declined, but residential investment grew by 4.5% y/y. Goods and services export volume increased by 9.7%, while imports rose by 16.8%.

Explore how Japan's economy fared in the latest CEIC Leading Indicator (CLI) analysis of the eight surveyed regions here.

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Japan
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18th May 2021 Japan's GDP declines again in Q1 2021