According to the International Monetary Fund (IMF), Japan's nominal GDP will drop from third to fourth in the world in 2023, according to Daily Economic News. Forecast data shows that Japan's nominal GDP in 2023 is approximately $4.23 trillion, while Germany, which is about to surpass Japan, is about $4.43 trillion. Meanwhile, the IMF predicts that India will become the world's fourth largest economy by 2026, while Japan will decline to the fifth largest economy between 2026 and 2028.
In fact, before the prediction that Germany's GDP exceeded Japan's this year, Japan's per capita GDP had already declined year by year. Japan's per capita GDP was originally higher than that of developed economies in the United States and Europe, but according to statistics, it is currently at the bottom of the Group of Seven, and even South Korea has surpassed Japan.
It is worth mentioning that according to the annual calculation of the national economy released by the Japanese Cabinet Office at the beginning of the year, Japan's per capita nominal GDP, which became the approximate standard of wealth, was $39803 in 2021, ranking 20th among the 38 member countries of the Organization for Economic Cooperation and Development (OECD) and surpassed by France.
According to Xinhua News Agency on August 17th, data released by the Japanese Cabinet Office on August 15th showed that the Japanese economy has maintained positive growth for two consecutive quarters since the beginning of this year. The actual gross domestic product (GDP) in the second quarter increased by 1.5% month on month, with an annual growth rate of 6%.