In this research the focus is on determining economic growth and development of „fast-growing“island country - Japan. It is focused on the period from 2005 to 2015, and the analysis is carried out with the help of indicators of economic growth and development – GDP per capita, unemployment rate, poverty rate, health and health system, education system and HDI (Human Development Indicator). GDP per capita had a rising trend until the government increased the consumption tax and the economy fell into recession. The GDP still didn‟t fell lower than in 2005. Japan had a decrese in the unemployment rate and they keep it very low, compared to other countries. The problem is the huge poverty rate that the government should bring their attention to. Nevertheless, through this period, they have kept it relatively constant, without huge increases. The government has continuously increased their investment into the health system. More investment into education is needed since human resources is considered to be the most important factor of growth. The standard of life in Japan has risen, which was proven by the growing trend of the Human Development Indicator. The conclusion of this research is that Japan, through the years from 2005 till 2015, has achieved economic growth and development.