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

The Yomiuri Shimbun

9:05 JST, February 15, 2024 (updated at 09:16 JST)

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.