print PRINT

ECONOMY > Economic Indicators

Japan to count entertainment content production in GDP

  • November 18, 2020
  • , Jiji Press , 8:26 p.m.
  • English Press

Tokyo, Nov. 18 (Jiji Press)–The Japanese government said Wednesday that it will start to count the production of movies, television programs, music and books as capital formation in the country’s gross domestic product.

 

The change is among planned revisions to the standards for calculating GDP. The updated standards will be adopted from December, when the government is slated to release revised GDP data for July-September.

 

Currently, costs for entertainment content production are excluded from GDP.

 

According to the Cabinet Office, the country’s nominal GDP in 2015 is estimated to be 1.3 pct, or 6.7 trillion yen, higher under the new standards than under the current standards.

 

Of the estimated positive effect, 0.2 pct, or 900 billion yen, is attributed to the inclusion of entertainment content production.

 

Also under the revised standards, spending on private lodging services will be included in private consumption, while building refurbishment will be regarded as housing investment and corporate capital spending.

 

Copyright-related transactions will also be included in GDP. Due to imports of Hollywood movies and others, such business is expected to push down GDP.

 

 

  • Ambassador
  • Ukraine
  • OPINION POLLS
  • COVID-19
  • Trending Japan