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Country Report Japan May 2011
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HTMLOutlook for 2011-15: Forecast summary
| Forecast summary | ||||||
| (% unless otherwise indicated) | ||||||
| 2010a | 2011b | 2012b | 2013b | 2014b | 2015b | |
| Real GDP growth | 4.0 | 1.0 | 2.1 | 1.4 | 1.2 | 1.3 |
| Industrial production growth | 16.0 | -10.3 | 6.2 | 2.0 | 2.0 | 2.0 |
| Gross fixed investment growthc | 0.2 | -0.6 | 3.8 | 1.4 | 1.7 | 1.8 |
| Unemployment rate (av) | 5.1 | 4.8 | 4.5 | 4.0 | 3.8 | 3.7 |
| Consumer price inflation (av) | -0.7 | 0.7 | 1.0 | 1.0 | 0.9 | 0.9 |
| Consumer price inflation (end-period) | 0.0 | 1.0 | 1.0 | 0.9 | 0.9 | 0.9 |
| Short-term interbank rate | 1.5 | 1.6 | 1.9 | 2.7 | 3.3 | 3.5 |
| Government balance (% of GDP) | -7.7 | -7.9 | -7.0 | -5.7 | -5.7 | -5.6 |
| Exports of goods fob (US$ bn) | 730.5 | 805.2 | 877.0 | 917.3 | 974.0 | 1,027.5 |
| Imports of goods fob (US$ bn) | 638.9 | 724.8 | 771.5 | 792.1 | 834.4 | 887.9 |
| Current-account balance (US$ bn) | 196.1 | 173.9 | 194.4 | 200.9 | 204.4 | 193.3 |
| Current-account balance (% of GDP) | 3.6 | 2.9 | 3.1 | 3.2 | 3.2 | 3.1 |
| Exchange rate ¥:US$ (av) | 87.8 | 82.3 | 81.2 | 81.3 | 82.0 | 84.0 |
| Exchange rate ¥:US$ (end-period) | 81.5 | 81.6 | 80.9 | 82.0 | 83.0 | 84.0 |
| Exchange rate ¥:€ (av) | 116.4 | 112.3 | 105.2 | 99.7 | 100.7 | 107.1 |
| Exchange rate ¥:€ (end-period) | 112.1 | 107.7 | 102.9 | 97.7 | 103.3 | 107.9 |
| a Actual. b Economist Intelligence Unit forecasts. c Seasonally adjusted. | ||||||
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