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Japan

Author

Listed:
  • Rodica Velciu

Abstract

In the last quarter of 2012, GDP y/y increase has marked a slight advance (0.5%) after two consecutive quarters of decline. Reported to quite a reduced base (an absolute y/y decrease in 2011, -0.6%), Japan economy grew 2 in 2012, sustained mainly by a strong private consumption (2.3%), government spending (2.6%) and public investment (12.6%), while net exports have had a negative impact on growth (-0.9pp). Trade balance continued to deteriorate in 2012, when it registered the largest deficit in the country’s history, of YEN 9,400 billion (about USD 118 billion), with 170% higher than that recorded in 2011 (USD 54.3 billion), surpassing even the previous record deficit, of YEN 2,610 billion achieved in 1980, during the second oil crisis. According to OECD report in May 2013, facilitated by the external markets boom, the increase in the Japanese economy is predicted to reach a real increase of 1.6% in 2013 and 1.4% in 2014, consecutively with a positive trend of the inflation rate.

Suggested Citation

  • Rodica Velciu, 2013. "Japan," Conjunctura economiei mondiale / World Economic Studies, Institute for World Economy, Romanian Academy.
    • Handle: RePEc:iem:conjun:y:2013:id:2822000009583019
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