Makrognosis

Japan Credit Rating & Sovereign Risk Score

Model scoreCode CREDIT:JP

Model score89 / 1009 Nov 2026
Grade equivalentAAmodel-implied
BandUpper investment grade0–100 scale, 100 = strongest
Rank12th of 84economies scored

Makrognosis sovereign credit model scores Japan at 89 out of 100 as of 9 November 2026, equivalent to AA on the familiar letter scale — upper investment grade.

The score is down 0.1 points from 89 on 1 October 2026.

That places Japan 12th of the 84 economies the model scores; Russia has the highest score at 100.

Key inputs include government debt of 195.4% of GDP, a fiscal balance of −1.4% of GDP, a current account balance of 5.3% of GDP.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Japan sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 20268284868890Robomacro
Japan sovereign credit score (0–100), 18 Jun 2026 – 9 Nov 2026. Source: Makrognosis sovereign credit model.

Score history

Assessment dateScoreGrade equivalent
9 November 202689.3AA
1 October 202689.4AA
31 July 202689.4AA
30 July 202686.2AA-
26 July 202686.9AA-
21 June 202685.6AA-
18 June 202682.8AA-
Get the Japan sovereign risk score in your code

Score, grade equivalent and inputs for 84 economies. Free tier available.

curl -H "X-API-Key: $MAKROGNOSIS_KEY" \
  "https://makrognosis.robomacro.com/v1/credit/JP"

# Python
import requests
r = requests.get("https://makrognosis.robomacro.com/v1/credit/JP",
                 headers={"X-API-Key": KEY})
score = r.json()["headline"]["score_0_100"]
Get a free API key → · API docs

What drives the score

The model's published inputs for Japan, from official national and international statistics.

InputValueVintage
GDP per capitaUS$35,5122026
Real GDP growth, 5-year average1.4%2026
Inflation, recent average1.8%2026
Government debt195.4% of GDP2026
Fiscal balance−1.4% of GDP2026
Current account balance5.3% of GDP2026
Foreign-exchange reserves14.0 months of imports2026
Governance (World Bank WGI composite)1.422026

How Japan compares

#EconomyAs ofScore
1Russia9 Nov 2026100
2Turkey9 Nov 2026100
3Denmark9 Nov 202698
4Switzerland9 Nov 202696
5Netherlands9 Nov 202695
7Ireland9 Nov 202694
8Sweden9 Nov 202694
9Norway9 Nov 202694
10Canada9 Nov 202691
11Australia9 Nov 202690
12Japan9 Nov 202689
13United Kingdom9 Nov 202688
14Finland9 Nov 202688
15United States9 Nov 202687
16New Zealand9 Nov 202685
17South Korea9 Nov 202685
18India9 Nov 202684

All 84 economies ranked →

Japan economic indicators

Japan GDP (Gross Domestic Product)Japan Nominal GDP, expenditure side, current prices, SA at annual rate (Cabinet Office QE)Japan CPI: All items (2025=100)Japan Inflation Rate (CPI)Japan Core Inflation RateJapan Unemployment RateJapan Unemployment Rate (not seasonally adjusted)Japan Industrial ProductionJapan Producer Price Inflation (PPI)Japan Current Account Balance (BoP, monthly)Japan Trade Balance: Goods & ServicesJapan Merchandise Exports, BoP basis (Goods Credit, BPM6)Japan Merchandise Imports, BoP basis (Goods Debit, BPM6)Japan EmploymentJapan M2 Money StockJapan Average Contract Interest Rate on Outstanding Loans and Discounts, Total (Domestically Licensed Banks)

FAQ

What is Japan's credit rating?
Makrognosis sovereign credit model scores Japan at 89/100 as of 9 November 2026, equivalent to AA (upper investment grade). This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.
How is the sovereign risk score calculated?
A statistical model scores each economy from published inputs — government debt and fiscal balance, current account and external debt, GDP per capita and growth, inflation, reserves and governance — on a 0–100 scale where 100 is the strongest credit. It is re-run as the inputs update.
Where can I get the data?
Through the Makrognosis API: GET /v1/credit/JP returns the score history and inputs; /v1/credit/universe lists every economy.

This is a model-implied assessment built from official macroeconomic data. It is not a credit rating issued by S&P, Moody's or Fitch, and agency ratings are not reproduced here.

Last assessed 2026-11-09. Source: Makrognosis sovereign credit model.