Japan's gross fixed capital formation (current US$) was US$1.17 trillion in 2024, the latest year in the World Bank's World Development Indicators. That is down 11.47% from US$1.32 trillion in 2014 (1.21% a year on average, compounded).
Key figures
| Value | Year | |
|---|---|---|
| Latest | US$1.17 trillion | 2024 |
| Five years earlier | US$1.43 trillion | 2019 |
| Ten years earlier | US$1.32 trillion | 2014 |
| Highest | US$1.8 trillion | 1995 |
| Lowest | US$89.24 billion | 1970 |
| Average since 2015 | US$1.31 trillion | 2015–2024 |
| First recorded | US$89.24 billion |
What the numbers say
In 2024, Japan's gross fixed capital formation (current US$) fell 4.6% on 2023 (from US$1.22 trillion to US$1.17 trillion).
Across the 30 yearly changes before that (1994 to 2023), the average change was −0.5% and a typical year strayed about 8.2% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
On record, the biggest yearly rise was 47.9% in 1986 and the biggest yearly fall was 14.2% in 1998. The numbers show how large and when, not why; for the cause, look at what happened in that country in those years.
From 2015 to 2024 there is no clear straight-line trend: a straight line explains 7% of the movement over 10 observed years, so the value is moving around more than it is heading anywhere.
Worked out from the yearly values above. How the checks work: standard deviation, z-scores and straight-line trends.
How it compares
In 2024, Japan had the 3rd highest value of the 37 economies reporting that year. Higher is not always better: for some indicators the lowest value is the one to aim for. See the full ranking.
| Value | Year | |
|---|---|---|
| Japan | US$1.17 trillion | 2024 |
| World | US$28.61 trillion | 2024 |
| East Asia & Pacific | US$10.99 trillion | 2024 |
| High income | US$16.03 trillion | 2024 |
Closest to Japan in the 2024 ranking
- China — 1st of 37: US$7.43 trillion
- United States — 2nd of 37: US$6.26 trillion
- Kazakhstan — 4th of 37: US$70.88 billion
- New Zealand — 5th of 37: US$61.12 billion
- Iraq — 6th of 37: US$40.15 billion
What this measures
Gross fixed capital formation includes acquisitions less disposals of fixed assets during the accounting period, including certain specified expenditures on services that add to the value of non-produced assets. This indicator is expressed in current prices, meaning no adjustment has been made to account for price changes over time. This indicator is expressed in United States dollars.
Regional and income-group figures are computed by the World Bank as a gap-filled total.
All 55 values
| Year | Gross fixed capital formation (current US$) |
|---|---|
| 2024 | 1,165,392,892,181 |
| 2023 | 1,221,080,907,786 |
| 2022 | 1,238,079,104,774 |
| 2021 | 1,415,072,268,380 |
| 2020 | 1,408,176,897,667 |
| 2019 | 1,425,683,664,982 |
| 2018 | 1,377,919,028,486 |
| 2017 | 1,331,115,598,343 |
| 2016 | 1,335,254,414,006 |
| 2015 | 1,195,854,146,308 |
Gross fixed capital formation (current US$) in nearby economies
- Australia — US$437.56 billion (2025)
- Brunei Darussalam — US$4.05 billion (2025)
- Cambodia — US$15.85 billion (2025)
- China — US$7.43 trillion (2024)
- Fiji — US$1.2 billion (2024)
- French Polynesia — US$1.39 billion (2024)
- Hong Kong SAR, China — US$72.38 billion (2025)
- Indonesia — US$415.87 billion (2025)
- Kiribati — US$99.64 million (2024)
- Korea, Rep.
More economic policy & debt data for Japan
- Total reserves, including gold (current US$) — US$1.37 trillion (2025)
- Total reserves, excluding gold (current US$) — US$1.25 trillion (2025)
- GDP (current US$) — US$4.44 trillion (2025)
- GDP (current LCU) — 663.76 trillion (2025)
- GDP (constant 2015 US$) — US$4.76 trillion (2025)
- GDP (constant LCU) — 591.22 trillion (2025)
- GDP per capita (current US$) — US$35,951 (2025)
- GDP per capita (current LCU) — 5.38 million (2025)
- GDP per capita (constant 2015 US$) — US$38,619 (2025)
- GDP per capita (constant LCU) — 4.79 million (2025)
- GNI (current US$)
Reading data like this
Questions people ask
- What is Japan's gross fixed capital formation (current US$)?
- US$1.17 trillion in 2024, according to the World Bank (World Development Indicators).
- How has it changed since 1970?
- It is up 1,206% from US$89.24 billion in 1970 (4.87% a year on average, compounded). The highest value was US$1.8 trillion in 1995 and the lowest US$89.24 billion in 1970.
- How does Japan rank?
- 3rd highest of 37 economies with data for 2024.
- Is the latest change in gross fixed capital formation (current US$) unusual for Japan?
- In 2024, Japan's gross fixed capital formation (current US$) fell 4.6% on 2023 (from US$1.22 trillion to US$1.17 trillion). Across the 30 yearly changes before that (1994 to 2023), the average change was −0.5% and a typical year strayed about 8.2% from that (the standard deviation). This year's change was 0.5 standard deviations below that average, so it was an ordinary year: it sits within the range of normal year-to-year movement.
Source
World Bank, World Development Indicators, indicator NE.GDI.FTOT.CD, licensed CC BY 4.0. Original source: Country official statistics, National Statistical Offices (NSOs); National Accounts data files, Central Banks; Staff estimates, World Bank (WB) Figures are fetched from the World Bank API and refreshed monthly; see the series on data.worldbank.org. The full definition and method are in the World Bank's metadata glossary. Comparisons use the same World Bank release.
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