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Economy

Japan's estimate jumps 300% to 14tn yen

TOKYO -- The Japanese government estimates the economic effects from the Trans-Pacific Partnership trade pact to be slightly less than 14 trillion yen ($114 billion), on a preliminary basis, The Nikkei learned Tuesday.

     It will likely push up the nation's real gross domestic product by slightly less than 3%, after the deal comes into effect.

     The number grew more than 300% from the previous estimate of 3.2 trillion yen as of March 2013, before Japan participated in the TPP negotiations. The expectation is that increases in exports and cross-border investment will accelerate the country's growth.

     The data will be published following a meeting on Thursday of the TPP task force set up by Prime Minister Shinzo Abe, which includes all cabinet ministers.

(Nikkei)

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