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Preliminary economic data released by the Japanese government on Thursday showed Japan’s GDP of $4.2 trillion in 2023 is below Germany’s GDP of $4.5 trillion.
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. This is due to the weakness of the yen rather than Germany’s economic strength.
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. The two largest economies in the world by far are still the USA and China.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
