Economy IMF: Germany to overtake Japan's economy in 2023

[thomas]

According to new projections by the International Monetary Fund, Japan's nominal gross domestic product will be overtaken by Germany this year as it slips from No. 3 to No. 4 in the world on a U.S. dollar basis. Nominal GDP describes the total market value of goods and services produced in a country, using current prices and without inflation adjustment. India will likely overtake Japan in 2026.

The IMF's projections for the period through 2028 say that India, which has surpassed China to become the world's most populous nation with more than 1.4 billion people, is likely to have a larger GDP than Japan in 2026. While Japan is expected to be the world's fifth-largest economy between 2026 and 2028, India's GDP is projected to rank fourth in 2026 and third in 2027. In 1968, Japan eclipsed West Germany in terms of gross national product, also known as GNP, which was the main indicator at the time, and became the world's second-largest economy after the United States. Japan held the position until it was overtaken by China in 2010, falling to third place. Regardless of foreign exchange rates, which have a significant influence on GDP, Japan has seen a long period of low growth. Germany's population is about two-thirds of Japan's, but the growth gap between the two countries has been narrowing in recent years.

IMF projects Japan's GDP to fall to world's 4th in 2023 after Germany - The Mainichi

WASHINGTON (Kyodo) -- Japan's nominal gross domestic product in 2023 is expected to slip from third to fourth in the world on a U.S. dollar basis, to

mainichi.jp

Germany set to eclipse Japan as No. 3 economy in 2023, IMF says

The yen’s widely watched depreciation has played an outsized role in its projected slide in position.

www.japantimes.co.jp

 

[Grandpa Frank]

At the rate US politicians are spending & printing money , I worry we will go the way Venezuela did.