Skip Navigation

Germany now world's third largest economy as Japan loses its spot

www.euronews.com Germany now world's third largest economy as Japan loses its spot

Japan slips into recession, becoming the 4th-largest economy, behind the US, China and now Germany.

Germany now world's third largest economy as Japan loses its spot

Japan slips into recession, becoming the 4th-largest economy, behind the US, China and now Germany.

Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany.

The government reported the economy shrank at an annual rate of 0.4% in October to December, according to Cabinet Office data on real GDP, though it grew 1.9% for all of 2023.

It contracted 2.9% in July-September. Two straight quarters of contraction are considered an indicator an economy is in a technical recession.

Japan’s economy was the second largest until 2010, when it was overtaken by China’s. Japan’s nominal GDP totaled $4.2 trillion last year, while Germany’s was $4.4 trillion, or $4.5 trillion, depending on the currency conversion.

39

You're viewing a single thread.

39 comments
You've viewed 39 comments.