Categories: Market

Japan took its place: Germany is the world’s third largest economy

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Germany replaced Japan as the third largest economy. (archive image)

Japan’s GDP of $4.2 trillion in 2023 was below Germany’s GDP of $4.5 trillion, according to economic data released by the Japanese government on Thursday.

In the fourth quarter of last year, Japan’s GDP shrank by 0.1 percent. The Asian country’s economy was especially affected by the decline in its national currency, the yen.

Germany’s rise to become the world’s third largest economy is largely symbolic. After all, Germany is struggling with economic problems. Last year the German economy shrank by 0.3 percent. Only slight growth of well below one percent is expected this year.

(SDA)

Source :Blick

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