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  • Economic Calendar Terms

    GDP Rev Q/Q Annualised Q1

    Cabinet Office, Government of Japan
    1-6-1 Nagata-cho, Chiyoda-ku,
    Tokyo 100-8914,

    Gross National Product and Gross Domestic Product is the total value of the finished goods and services produced in the economy. It is not a precise measure of national economic well-being but expressed in volume (adjusted for inflation) it is the closest single number we have got to such a measure. It is the sum of final expenditures; Export of goods and services, Imports of goods and services, Private Consumption, Government Consumption, Gross Fixed Capital Formation and Increases/Decreases(-) in stocks. The difference between Gross National Product and Gross Domestic Product is the Net Factor Income/Payments abroad.

    The chain-linked method was applied to Japans System of National Accounts from the second preliminary estimates of GDP for July - September 2004. It is well known that the inflation-adjusted economic growth rates may be overestimated for years far from the base year under the present method (fixed-base year, rebased every five years).