TOKYO (AP) — Japan has slipped to the world’s fourth-largest economy as government data released Thursday showed it fell behind the size of Germany's in 2023.
Japan fell from the second-ranked economy behind the U.S. to the third-largest in 2010 as China's economy grew.
The comparisons among nations’ economies look at nominal GDP, which doesn’t reflect some different national conditions, and is in dollar terms.
Japan’s nominal GDP totaled $4.2 trillion last year, or about 591 trillion yen.
The gap between developed countries and emerging nations is shrinking, with India certain to overtake Japan in nominal GDP in a few years, Okazaki said.
Persons:
Germany’s, Japan’s, Tetsuji Okazaki, ”, Okazaki, Konosuke Matsushita, ___ Yuri Kageyama
Organizations:
TOKYO, —, Monetary Fund, Japan, University of Tokyo, Honda, Honda Motor Co, Panasonic Corp, Japan Inc
Locations:
— Japan, Japan, Germany, India, U.S