经合组织经济调查：日本2026

May 2026Volume 2026/12 OECD Economic Surveys:Japan2026 This work was approved and declassified by the Economic and Development Review Committee on 25 March 2026. This document, as well as any data and map included herein, are without prejudice to the status of or sovereignty overany territory, to the delimitation of international frontiers and boundaries and to the name of any territory, city or area. The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use ofsuch data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli settlements inthe West Bank under the terms of international law. Note by the Republic of Türkiye The information in this document with reference to “Cyprus” relates to the southern part of the Island. There is no singleauthority representing both Turkish and Greek Cypriot people on the Island. Türkiye recognises the Turkish Republic ofNorthern Cyprus (TRNC). Until a lasting and equitable solution is found within the context of the United Nations, Türkiyeshall preserve its position concerning the “Cyprus issue”. Note by all the European Union Member States of the OECD and the European UnionThe Republic of Cyprus is recognised by all members of the United Nations with the exception of Türkiye. Theinformation in this document relates to the area under the effective control of the Government of the Republic of Cyprus. Kosovo*: This designation is without prejudice to positions on status, and is in line with United Nations Security CouncilResolution 1244/99 and the Advisory Opinion of the International Court of Justice on Kosovo’s declaration ofindependence. Please cite this publication as: OECD (2026),OECD Economic Surveys: Japan 2026, OECD Publishing, Paris, https://doi.org/10.1787/54cc833d-en. ISBN 978-92-64-33890-6 (print)ISBN 978-92-64-44150-7 (PDF)ISBN 978-92-64-98322-9 (HTML) OECD Economic SurveysISSN 0376-6438 (print)ISSN 1609-7513 (online) OECD Economic Surveys: JapanISSN 1995-3062 (print)ISSN 1999-012X (online) Photo credits:Cover © notamatsu/Shutterstock.com. Corrigenda to OECD publications may be found at: https://www.oecd.org/en/publications/support/corrigenda.html.© OECD 2026 Attribution 4.0 International (CC BY 4.0) This work is made available under the Creative Commons Attribution 4.0 International licence. By using this work, you accept to be bound by the terms of this licence(https://creativecommons.org/licenses/by/4.0/). Attribution– you must cite the work.Translations– you must cite the original work, identify changes to the original and add the following text:In the event of any discrepancy between the original work and thetranslation, only the text of the original work should be considered valid.Adaptations– you must cite the original work and add the following text:This is an adaptation of an original work by the OECD. The opinions expressed and arguments employed inthis adaptation should not be reported as representing the official views of the OECD or of its Member countries.Third-party material– the licence does not apply to third-party material in the work. If using such material, you are responsible for obtaining permission from the third party and forany claims of infringement.You must not use the OECD logo, visual identity or cover image without express permission or suggest the OECD endorses your use of the work.Any dispute arising under this licence shall be settled by arbitration in accordance with the Permanent Court of Arbitration (PCA) Arbitration Rules 2012. The seat of arbitration shallbe Paris (France). The number of arbitrators shall be one. This Economic Survey was prepared byMüge Adalet McGowan,Patrizio Sicari, Tetsuya Yoshioka and NatiaMosiashviliunder the supervision ofDouglas Sutherland. Editorial support wasprovided by Sisse Nielsen andcommunication assistance by Laura Fortin. This Survey is published under the responsibility of the Economic and Development Review Committee of the OECD.The Committee discussed the draft Survey on3March2026. The cut-off date for data used in the Survey is30 April2026. Information about this and previous Surveys and more information about how Surveys are prepared is available athttps://www.oecd.org/en/topics/economic-surveys.html. Table of contents 3 Foreword Basic statistics of Japan, 2025 7 Executivesummary 1Key Policy Insights 16 1.1. Reforms should continue to increase resilience to shocks171.2. The economy is set to grow moderately despite external headwinds191.3. Monetary policy should continue to normalise at a gradual pace241.4.The financial system seems sound but faces risks261.5. Building fiscal buffers and ensuring long-run fiscal sustainability291.6. Addressing labour and skill shortages401.7. Towards a climate-resilient net-zero economy54References67 2Reigniting productivity growth 2.1. Japan’s productivity lags its peers732.2. Strengthening competition762.3. Encouragi