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 Powell Says a March Rate Cut is Unlikely READ MORE World Gold Council: China's Gold Market Booms in 2023 READ MORE Gold Inches Higher, Supported by Soft Dollar and Rising Middle East Tensions READ MORE Rising Tide of Global Debt Set to Elevate Yields, Predicts Goldman Sachs READ MORE Hot US jobs report tempers Fed rate cut outlook READ MORE Add a Comment Cancel replyYour email address will not be published.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