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The GDP growth rate in the context of the World Development Indicators (WDI) refers to the annual percentage increase or decrease in a country's Gross Domestic Product (GDP), adjusted for inflation. The WDI is a comprehensive database maintained by the World Bank that tracks various economic, social, and environmental development indicators across the globe.
Key Takeaways
Japan GDP Growth (1961-2023)
Japan experienced rapid post-war growth from the 1960s to the early 1970s, peaking at 12.9% in 1968 as the economy industrialized rapidly. However, the 1990s saw prolonged stagnation, with near-zero growth in some years due to asset bubble collapse and an aging population. The 2008 financial crisis and 2011 earthquake further dampened growth, though recovery efforts saw a modest rebound. In 2021, GDP growth reached 2.6%, though by 2023, growth remained low at 1.9%, with structural economic challenges.
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