Economic Recession and Yen Depreciation Push Japan Behind Germany Japan has relinquished its position as the world’s third-largest economy to Germany, sliding into recession amid challenges such as a depreciating yen and demographic issues like an aging and decreasing population. Despite achieving a 1.9% growth in 2023 in nominal terms (not adjusted for inflation), Japan’s Gross Domestic Product (GDP) in dollar terms amounted to $4.2 trillion, falling short of Germany’s $4.5 trillion. The depreciation of the yen, which saw nearly a fifth of its value eroded against the dollar over the last two years—including a 7% drop last year alone—has been a critical factor, as it diminishes the value of repatriated earnings from exports. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts ECB Resists Market Pressure for Interest Rate Cuts READ MORE Dow and S&P 500 Dip Amid Rising Treasury Yields and Rate Cut Speculations READ MORE Oxfam Report: Billionaire Fortunes Double Amidst Global Pandemic READ MORE Gold vs. Bitcoin Investments [Debating the pros & cons] READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment