Japan GDP to receive $88bn boost from including data assets

New U.N. calculation standards to reflect growing importance of digital economy

Data is sometimes referred to as the oil of the 21st century for the value it holds in the digital age. (Photo by Nikkei)

YOHEI HIROSE, Nikkei staff writer

January 9, 2025 02:42 JST

TOKYO -- Japan is moving to incorporate the value of data in its gross domestic product based on new calculation standards by the United Nations, a move seen lifting the country's nominal GDP by around 14 trillion yen ($88.7 billion).

GDP, which represents the sum of value added by all producers, is the key metric for the size and growth of a country's economy. It often is used to guide economic policies, including consumer tax hikes, and inaccurate calculations can hinder policymaking.