Japan Real GDP by Expenditure
Real GDP and its expenditure components — private consumption, housing, business investment, inventories, government consumption, public investment, exports and imports — with GDI and GNI, seasonally adjusted at annual rates in billions of chained 2020 yen.
| Indicator | Q2-2026 | Q1-2026 | Q4-2025 | Q3-2025 | Q2-2025 | Q1-2025 | Q4-2024 | Q3-2024 | Q2-2024 | Q1-2024 | Q4-2023 | Q3-2023 | Q2-2023 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| GDP (expenditure approach)9 | 598,950.5 | 596,799.3 | 593,959 | 592,407.5 | 594,629.6 | 593,896.1 | 590,926.5 | 588,580.5 | 583,705.1 | 584,381.3 | 584,932.5 | 582,160.1 | 589,531.5 | |
| Private final consumption expenditure1 | 310,766.3 | 310,743.1 | 309,356.6 | 308,872.9 | 307,182.8 | 306,742.9 | 304,933.4 | 304,968.5 | 303,464.5 | 303,478.6 | 304,266.9 | 304,318.9 | 306,504.3 | |
| Household final consumption expenditure1 | 299,633.5 | 299,783.6 | 298,564.5 | 298,209.8 | 296,609.3 | 296,320.5 | 294,678.3 | 294,718 | 293,058 | 292,865.3 | 293,514.3 | 293,545.6 | 295,831.9 | |
| Household consumption excluding imputed rent | 245,122 | 245,322.5 | 244,169.3 | 243,868.6 | 242,316.5 | 242,090.7 | 240,528.1 | 240,637.6 | 239,053.2 | 238,926.4 | 239,598.3 | 239,701.4 | 242,074.5 | |
| Private residential investment | 22,672.2 | 22,806.4 | 22,592.9 | 21,525.6 | 23,381.8 | 23,247.9 | 23,363.8 | 23,196.2 | 22,874.7 | 22,969.1 | 23,257.3 | 23,273.6 | 23,587.2 | |
| Private non-residential investment | 107,633.8 | 108,653.4 | 109,750.3 | 108,358.2 | 108,590.4 | 107,180.1 | 105,955.2 | 106,807.9 | 105,835.4 | 104,770.1 | 105,531.3 | 103,884.1 | 104,147.6 | |
| Change in private inventories | -89 | -1,642.9 | -1,368.3 | 578.1 | 1,103.7 | 2,562 | -785.7 | 512.9 | -1,343.2 | -489.7 | -627.8 | -2,160.9 | 1,155 | |
| Government final consumption expenditure | 125,211.3 | 123,149.7 | 122,689.1 | 122,155.1 | 121,970 | 121,346.6 | 121,618.9 | 121,531.3 | 121,426.8 | 119,116.1 | 118,704.3 | 118,692.1 | 118,499.1 | |
| Public fixed capital formation | 27,603.6 | 27,731.1 | 27,359.8 | 27,485.4 | 27,804.9 | 27,570.1 | 27,788.3 | 27,878.3 | 27,499.2 | 27,351.6 | 27,626.1 | 27,710.3 | 28,153.5 | |
| Change in public inventories | -2,319.5 | -99.2 | -77.4 | -51.8 | -104.4 | 15.9 | -149 | -28.7 | -34.6 | -182.8 | -173.5 | -197.5 | -106.2 | |
| Net exports of goods and services2 | 8,554.1 | 6,411.7 | 4,866.8 | 4,558.1 | 5,403.5 | 5,436.5 | 8,240.4 | 4,562.5 | 4,845.3 | 7,214.9 | 6,872 | 6,944.5 | 6,701.4 | |
| Exports of goods and services | 108,593.3 | 108,156.3 | 106,354.3 | 106,201.5 | 107,656.8 | 105,892.1 | 106,689.2 | 105,002.1 | 102,435.3 | 101,578.5 | 104,730.7 | 102,145.9 | 100,706.8 | |
| Imports of goods and services | 100,039.2 | 101,744.6 | 101,487.4 | 101,643.4 | 102,253.3 | 100,455.7 | 98,448.8 | 100,439.6 | 97,590 | 94,363.6 | 97,858.6 | 95,201.4 | 94,005.4 | |
| Statistical discrepancy | -1,082.3 | -954 | -1,210.8 | -1,074 | -703 | -205.8 | -38.9 | -848.4 | -863 | 153.4 | -524.1 | -305 | 889.6 | |
| Trading gains and losses | -8,500 | -6,985.7 | -5,747.6 | -6,304.9 | -6,839 | -10,755.9 | -9,023 | -9,121.8 | -9,297.1 | -11,911 | -11,010.6 | -10,114.4 | -11,816.6 | |
| Gross domestic income (GDI) | 590,450.6 | 589,813.6 | 588,211.4 | 586,102.6 | 587,790.7 | 583,140.2 | 581,903.5 | 579,458.7 | 574,408 | 572,470.3 | 573,921.9 | 572,045.7 | 577,714.9 | |
| Net income from the rest of the world2 | 32,857.4 | 35,833.6 | 35,084.6 | 38,174.3 | 34,705.3 | 35,921.3 | 34,255.2 | 35,675.9 | 36,646.3 | 33,031.2 | 34,611.3 | 32,626.5 | 33,937.2 | |
| Income receivable from the rest of the world | 59,325 | 60,545.5 | 59,382.2 | 61,467 | 57,823.7 | 59,390.7 | 57,513.3 | 59,507.6 | 59,552 | 55,638.7 | 56,045.7 | 53,692.5 | 53,577.6 | |
| Income payable to the rest of the world | 26,467.6 | 24,712 | 24,297.6 | 23,292.7 | 23,118.4 | 23,469.4 | 23,258 | 23,831.8 | 22,905.7 | 22,607.4 | 21,434.4 | 21,066 | 19,640.4 | |
| Gross national income (GNI) | 623,308 | 625,647.1 | 623,296 | 624,276.9 | 622,496 | 619,061.5 | 616,158.7 | 615,134.6 | 611,054.3 | 605,501.6 | 608,533.1 | 604,672.2 | 611,652.1 | |
| Domestic demand2 | 589,985.1 | 590,583.1 | 589,609.6 | 588,489 | 589,713.4 | 588,735.3 | 582,135.7 | 584,544.6 | 579,059.4 | 576,484.1 | 578,080.3 | 574,733.5 | 581,796.4 | |
| Private demand | 440,582.7 | 439,973.4 | 439,795.1 | 439,023.2 | 440,160 | 439,840.2 | 433,069.8 | 435,277.1 | 430,328.8 | 430,348.9 | 432,035.6 | 428,679.4 | 435,295.4 | |
| Public demand | 149,374.2 | 150,631.9 | 149,810.5 | 149,458.7 | 149,536.3 | 148,859.7 | 149,105.9 | 149,293.3 | 148,784.5 | 146,126.6 | 146,021.7 | 146,053.1 | 146,465.8 | |
| Gross fixed capital formation | 157,835.4 | 159,112.1 | 159,602.4 | 157,241.7 | 159,718.4 | 157,947.3 | 157,073.5 | 157,832.8 | 156,154.9 | 155,050.4 | 156,377.8 | 154,853.5 | 155,889.2 | |
| Final demand | 602,790.3 | 599,365.6 | 596,173.6 | 592,265.6 | 593,943.1 | 591,287.2 | 592,545.8 | 588,474.6 | 585,816.9 | 585,707.9 | 586,423.2 | 585,551.4 | 588,759.5 |
Latest reading
GDP (expenditure approach) stood at 598,950.5 in Q2 2026. That is +0.4% from Q1 2026 and +0.7% from a year earlier. The series on this page is quarterly and runs from Q1 1994 to Q2 2026. Source: Economic and Social Research Institute (ESRI), Cabinet Office – Quarterly Estimates of GDP.
- Latest
- 598,950.5
- Q2 2026
- vs previous period
- +0.4%
- Q1 2026
- vs a year earlier
- +0.7%
About this data
Real GDP and its expenditure components — private consumption, housing, business investment, inventories, government consumption, public investment, exports and imports — with GDI and GNI, seasonally adjusted at annual rates in billions of chained 2020 yen. Latest Quarterly Estimates release. Source: ESRI, Cabinet Office.
