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World's fourth-largest economy
February 22 , 2024
147 days
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- Japan slips to the world's fourth-largest economy, behind the US, China and now Germany.
- Japan’s nominal GDP totalled $4.2 trillion last year, or about 591 trillion yen.
- Germany’s, was $4.4 trillion, or $4.5 trillion, depending on the currency conversion.
- The Japanese economy has gradually lost its competitiveness and productivity while the population shrinks as Japanese people age and have fewer children.
- Japan fell from the second-ranked economy behind the U.S. to the third-largest in 2010 as China's economy grew.
- The gap between developed countries and emerging nations is shrinking, with India certain to overtake Japan in nominal GDP in a few years.
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