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 U.S. Strategizes Financial Blockade on Chinese Banks Over Russia Support READ MORE China's Central Bank Creates New Liquidity Tools to "Help" Monetary Policy READ MORE Gold Price Climbs to $2,577.50 as Rate Cut Expectations Grow READ MORE Jamie Dimon Believes U.S. Debt Is the ‘Most Predictable Crisis’ in History READ MORE Gold Shines Bright in Early 2024 Amid Anticipated US Fed Rate Cut READ MORE Add a Comment Cancel replyYour email address will not be published.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