Ranking. Japan is no longer the third largest economic power in the world

It's official, Japan has lost the title of the world's third largest economy, behind the US and China, to Germany. “Japan's economy shrank by an annualized 0.4% in the last quarter of 2023, after already contracting by 3.3% in the third quarter. news Nikkei Asia. Converted to dollars, Japan's GDP is 4,210 billion, while the German economy weighs 4,456 billion.

Despite a long period of weak growth, Empire of the Rising Sun managed to maintain third place on the podium for more than ten years, r.phone calls The Japan Times. “Previously, Japan's economy was even the second largest in the world, just behind that of the United States, until China overtook Japan in 2010.”

“Bad Surprise”

But by October 2023, the International Monetary Fund (IMF) has predicted that Germany's GDP will eclipse Japan's, “as the yen's decline against the dollar continued to cause headaches for politicians in Tokyo,” note on his side Politics.

However, the latest published data represents a “bad surprise”, comments Yoshiki Shinke of Dai-ichi Life

Elliot Frost

"Pop culture maven. Analyst. Writer. Wannabe food evangelist. Organizer. Friendly internet lover. Incurable troublemaker. Entrepreneur."