Japan’s GDP experienced growth of 1.7%
The Japanese government reported GDP growth, something that had not happened in the country since 2018
Japan’s Gross Domestic Product (GDP) expanded by 1.7 % in 2021, compared to 4.5 % contraction in 2020 and a 0.2% drop in activity in 2019, according to published data by the Japanese government.
The growth of the indicator in 2021 as a whole reflects the boost in Japanese household consumption, with an annual increase of 1.2 %, after the 5.9 % drop observed in 2020.
On its side, government consumption maintained a stable growth rate, with an increase of 2.1 % in 2021, two tenths below that observed a year earlier.
For its part, Japan’s exports in 2021 grew by 11.6 % after the 11.8 % collapse in 2020, while imports increased by 5.2 %, compared to the contraction of 7.2 % in 2020.
Between October and December, the world’s third largest economy experienced GDP growth of 1.3 % compared to the previous three months, when it had fallen by 0.7 %.
K. Tovar
Source: Holanews
