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Japan’s GDP Falls to 4th Place Behind Germany: IMF
Move over, Japan: the country’s economic power continues to wane as its GDP now places it only 4th in the world. Learn more about the factors battering Japan’s economy.
By Himari Semans
Japan’s nominal gross domestic product (GDP) — –the broadest measure of economic activity — –will slip from third to fourth in the world on a U.S. dollar basis in 2023, according to the latest projections by the International Monetary Fund (IMF).
Germany will overtake Japan, becoming the next third-largest economy in the world having a population approximately two-thirds the size of the Japanese.
The U.S. will remain at the top followed by China.
Why Japan fell
The yen’s depreciation and Germany’s higher inflation rates underpin the projected swap of positions. Japan fell from third as the yen dropped to ¥160 per euro and ¥150 per USD this month.
For monthly inflation rates, Japan’s consumer price index has generally been in the 3% range…
