WASHINGTON — 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 be overtaken by Germany, on the back of the yen’s depreciation, recent International Monetary Fund projections showed.
As the nominal GDP figure is impacted by inflation, Japan’s expected fall from the No. 3 spot, which it has held for more than a decade, is also believed to reflect higher price increases in Germany than in Japan.
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.
