Germany surpasses Japan as world's third-largest economy

According to various reports, Japan's nominal Gross Domestic Product (GDP) in dollar terms was estimated to be $4.2 trillion in 2023. This position reflects a significant depreciation of the Japanese yen against the US dollar, rather than an outperformance of the German economy. Japan's economy grew by 1.9% in nominal terms but slipped from being the world's third-largest to fourth-largest economy, surpassed by Germany. This shift occurred more than a decade after China overtook Japan as the second-largest economy in 2010. The International Monetary Fund had also forecasted Japan's fall to fourth place. India is projected to surpass both Japan and Germany later this decade.