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May 20, 2026JAPAN GDP Q1 2026 (PRELIMINARY) 
Preliminary estimates indicate that the Japanese economy (real GDP) grew at a seasonally adjusted annualized rate of 2.1% in the first quarter of 2026, faster than the 0.8% growth rate in Q4 2025.
Real GDP growth in the first quarter was broad-based, with growth in exports (7.1%); household (1.0%) and government consumption (0.4%); and residential (2.1%), non-residential (1.1%), and public (5.7%) investment. A 1.9% increase in imports (which are subtracted from growth) was the only offsetting factor for Japan real GDP growth in the first quarter of 2026.
Japan's nominal GDP grew 3.4% (seasonally adjusted annualized rate) in Q1 2026 in the first preliminary estimate. The price deflator for Japan's real GDP (the broad measure of price growth) increased at a seasonally adjusted annualized rate of 1.4% in Q1 2026.
Source: Cabinet Office of Japan, Quarterly Estimates of GDP
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