Japan: economy

Is Japan's industrial production rising or falling?

Japan's industrial production index fell 1.7% in August 2026 from July, to 102.6 (2020 = 100, seasonally adjusted), according to the Ministry of Economy, Trade and Industry's preliminary report of 30 September 2026. METI's assessment is that "Industrial Production fluctuates indecisively".

The headline index is seasonally adjusted, so the month-on-month change is the main reading. The same report includes METI's survey of manufacturers' production plans, which pointed to increases in September and October. Preliminary figures are revised about two weeks later.

Official sources: METI: Indices of Industrial Production, August 2026

What does the Bank of Japan Tankan survey show?

The business conditions index for large manufacturers was +24 in the September 2026 Tankan, up 2 points from June, according to the Bank of Japan's Tankan summary of September 2026. For large non-manufacturers it was +35, down 2 points. Large manufacturers forecast +21 for December and large non-manufacturers +30.

The index is the share of firms saying conditions are "favorable" minus the share saying "unfavorable", in percentage points, so a positive figure means more firms report good conditions than bad. Large firms assumed an average exchange rate of about ¥154 to the US dollar for the second half of fiscal 2026.

Official sources: Bank of Japan: Tankan, September 2026 (PDF)

Does Japan have a current account surplus?

Japan had a current account surplus of ¥4.06 trillion in August 2026, according to the Ministry of Finance's balance of payments data (preliminary). The surplus came from primary income of ¥5.13 trillion, while the goods and services balance was a deficit of ¥0.80 trillion. In July 2026 the surplus was ¥2.99 trillion.

Primary income is mainly returns on Japan's investments abroad, such as dividends and interest, and it is the largest part of the surplus. The Ministry publishes the figures in units of ¥100 million on its balance of payments page.

Official sources: MOF: balance of payments, monthly (CSV) · MOF: balance of payments statistics

Does Japan export more than it imports?

Japan had a goods trade deficit of ¥0.69 trillion in August 2026 on a balance of payments basis, with exports of ¥9.86 trillion and imports of ¥10.55 trillion, according to the Ministry of Finance's balance of payments data (preliminary). Trade in services was also in deficit, by ¥0.12 trillion.

The balance of payments counts goods when ownership changes, so it differs slightly from customs trade statistics. Japan's imports include a large bill for fuel, so the goods balance moves with energy prices and the exchange rate.

Official sources: MOF: balance of payments, monthly (CSV)

How much does Japan earn from investments abroad?

Japan's primary income surplus was ¥5.13 trillion in August 2026, according to the Ministry of Finance's balance of payments data (preliminary). That was larger than the whole current account surplus of ¥4.06 trillion, because goods and services were in deficit that month.

Primary income records income received from abroad, mostly dividends, interest and reinvested earnings on Japan's direct and portfolio investments, minus what is paid to foreign investors. It has become the main source of Japan's current account surplus. Monthly figures are preliminary and are revised.

Official sources: MOF: balance of payments, monthly (CSV) · MOF: balance of payments statistics

How fast is Japan's economy growing?

The World Bank puts real GDP growth in Japan at 1.2% in 2025. Since 2005 it has ranged from -5.9% (2009) to 4.1% (2010). Across East Asia & Pacific the middle value was 3.6%, and Japan placed 24th highest of 29. Worldwide: 148th of 180.

What is Japan's GDP per person?

In 2025, GDP per person in Japan was $35,951, according to the World Bank. The peak was $49,627 in 2012 and the low $33,797 in 2024. Across East Asia & Pacific the middle value was $6,547, and Japan placed 5th highest of 29. World rank, highest first: 29th of 180.

How does Japan's income per person compare after prices?

$55,422 in international dollars: that is GDP per person at purchasing power parity in Japan for 2025, according to the World Bank. No year since 2005 has been higher. Across East Asia & Pacific the middle value was $14,200 in international dollars, and Japan placed 6th highest of 29. Worldwide: 36th of 179.

How much does Japan export?

22.0% of GDP: that is exports of goods and services in Japan for 2024, according to the World Bank. No year since 2005 has been higher. Across East Asia & Pacific the middle value was 32.7% of GDP, and Japan placed 21st highest of 25. Worldwide: 123rd of 162.

Does Japan have a current account surplus or deficit?

The IMF puts the current account balance in Japan at 4.9% of GDP in 2025. No year since 2005 has been higher. It is 7th highest of 19 in East Asia & Pacific, where the median is 1.6% of GDP. Worldwide: 22nd of 132.

What is FDI in Japan?

The latest figure from the IMF, for 2025, is 1.0% of GDP. The peak was 1.2% of GDP in 2020 and the low -0.1% of GDP in 2006. It is 21st highest of 28 in East Asia & Pacific, where the median is 1.9% of GDP. Of 179 countries with 2025 data, 127th highest.

What are bank lending rates in Japan?

1.0%: that is the average bank lending rate in Japan for 2017, according to the IMF. No year since 2005 has been lower. East Asia & Pacific median: 6.4%; Japan is 22nd highest of 22. Worldwide: 122nd of 122.