Japan Drops to 4th Largest Economy Last Year in Terms of Nominal GDP, Unseated by Germany (Update 1)

Yomiuri Shimbun file photo
The cityscape of Tokyo

Japan drops to 4th largest economy last year in terms of nominal gross domestic product, unseated by Germany.

The 2023 nominal GDP rose 5.7% to ¥ 591 trillion on a preliminary basis, according to the Cabinet Office. It was $4.2106 trillion, surpassed by Germany’s $4.4561 trillion.

Meanwhile, the real GDP, seasonally adjusted, in the October-December period last year fell 0.1% from the July-September period, meaning it dropped 0.4% in an annualized pace, the two quarterly drop in a row.