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Yen Depreciation of 10% Drags Japan GDP Growth by 0.14 Percentage Points, Says Daiwa Economist

2026-07-08 08:05:11

According to Daiwa Institute of Research economist Keiji Kanda, over the past year, each 10% depreciation of the yen against the US dollar has resulted in a net drag of approximately 0.14 percentage points on Japan's real GDP growth. While yen weakness typically supports growth through increased inbound consumption and wealth effects, these benefits are concentrated among tourism companies and high-asset households. Rising import costs, however, impose heavy burdens on most businesses and households. The yen remains near historic lows, trading around 162.20 against the US dollar as of July 8.

Disclaimer: The information on this page may come from third-party sources and is for reference only. It does not represent the views or opinions of Gate and does not constitute any financial, investment, or legal advice. Virtual asset trading involves high risk. Please do not rely solely on the information on this page when making decisions. For details, see the Disclaimer.

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