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Nominal GDP2

Nominal GDP
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 2Source: Cabinet Office “National Accounts,” “Fiscal 2018 Economic Outlook and Basic Stance for Economic and Fiscal Management”

Corporate pre-tax profit3

Corporate pre-tax profit
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 3Source: Ministry of Finance “Financial Statements Statistics of Corporations by Industry,” all industries, all (firm) sizes, seasonally adjusted figures

Private non-residential investment4

Private non-residential investment
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 4Source: Cabinet Office “National Accounts,” private non-residential investment

Number of employed persons5

Number of employed persons
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 5Source: Ministry of International Affairs and Communications “Labour Force Survey,” seasonally adjusted figures

Ratio of effective job offers and unemployment rate6

Ratio of effective job offers and unemployment rate
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 6Source: Ministry of Health, Labour and Welfare “Statistics on Employment Referrals for General Workers,” seasonally adjusted figures; Ministry of Internal Affairs and Communications “Labour force survey,” seasonally adjusted figures

Tax revenue7

Tax revenue
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 7Source: Ministry of Finance “Public Finance Statistics Book,” initial budget

Dependency ratio on Japanese government bonds7

Dependency ratio on Japanese government bonds
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 7Source: Ministry of Finance “Public Finance Statistics Book,” initial budget

About Abenomics

Since coming to power in late 2012, Prime Minister Shinzo Abe and his government unveiled a comprehensive policy package to revive the Japanese economy from two decades of deflation, all while maintaining fiscal discipline. This program became known as Abenomics.

While Abenomics started as a stimulus measure based on three arrows, over the years it has evolved into a broader blueprint for pro-growth socioeconomic change that aims to lead Japan in tackling today's challenges head-on. The changes are designed to benefit all parts of Japan's economy—the people, companies, investors, and the country as a whole.

Abenomics keeps boosting Japan’s economy1

Setting the economy on course to overcome deflation and continue steady growth

  • Nominal GDP

    58.4JPY tn

    493 JPY tn > 551 JPY tnRecord high

  • Number of Employed
    Persons (Female)

    2.5mn(2.0mn)

    62.7 mn (26.6 mn) > 65.2 mn (28.6 mn)

  • Corporate Pre-tax Profit

    31.4JPY tn

    36.4 JPY tn > 67.8JPY tnRecord high

  • Unemployment Rate

    2.4%

    4.5 % > 2.4 %

  • Private Non-Residential
    Investment

    15.1JPY tn

    71.9 JPY tn > 87.0 JPY tn

  • Tax Revenue

    16.7JPY tn

    42.3 JPY tn > 59.1 JPY tn

  • Nominal GDP
  • Number of Employed Persons (female)
  • Corporate Pre-tax Profit
  • Unemployment Rate
  • Private Non-Residential Investment
  • Tax Revenue

Nominal GDP2

Nominal GDP
View Graph
  • *Average exchange rate for July 2018: USD = JPY 111
  • **The Japanese fiscal year starts in April and concludes in March of the following year.
  • 1Pre-Abenomics vs. Post-Abenomics; nominal GDP = 3Q FY2012 vs. 1Q FY2018, seasonally adjusted series [Annualized]; corporate pre-tax profit = FY2012 vs. FY2016; private non-residential investment = FY2012 vs. FY2017; number of employed persons (detailed tabulation) = 2012 avg. vs. 2017 avg.; unemployment rate = January 2012 vs. June 2018; tax revenue = FY2012 vs. FY2018
  • 2Source: Cabinet Office “National Accounts,” “Fiscal 2018 Economic Outlook and Basic Stance for Economic and Fiscal Management”

CORPORATE PERFORMANCE

Corporate pre-tax profit3

Corporate pre-tax profit
View Graph

Private non-residential investment4

Private non-resi. investment
View Graph

JOB MARKET

Number of employed persons5

Number of employed persons
View Graph

Ratio of effective job offers and unemployment rate6

Ratio of effective job offers and unemployment rate
View Graph

FISCAL CONDITION

Tax revenue7

Tax revenue
View Graph

Dependency ratio on Japanese government bonds7

Dependency ratio on Japanese government bonds
View Graph
  • 3Source: Ministry of Finance “Financial Statements Statistics of Corporations by Industry,” all industries, all (firm) sizes, seasonally adjusted figures
  • 4Source: Cabinet Office “National Accounts,” private non-residential investment
  • 5Source: Ministry of International Affairs and Communications “Labour Force Survey,” seasonally adjusted figures
  • 6Source: Ministry of Health, Labour and Welfare “Statistics on Employment Referrals for General Workers,” seasonally adjusted figures; Ministry of Internal Affairs and Communications “Labour force survey,” seasonally adjusted figures
  • 7Source: Ministry of Finance “Public Finance Statistics Book,” initial budget

About Abenomics

Since coming to power in late 2012, Prime Minister Shinzo Abe and his government unveiled a comprehensive policy package to revive the Japanese economy from two decades of deflation, all while maintaining fiscal discipline. This program became known as Abenomics.

While Abenomics started as a stimulus measure based on three arrows, over the years it has evolved into a broader blueprint for pro-growth socioeconomic change that aims to lead Japan in tackling today's challenges head-on. The changes are designed to benefit all parts of Japan's economy—the people, companies, investors, and the country as a whole.

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