Germany knocks Japan out of the world’s three largest economies after decades Economy
Germany is expected to become the world’s third largest economy later this year, after the United States and China. Thus, Japan disappears from the top three after decades. India is also climbing the rankings.
The fact that Germany has overtaken Japan this year is demonstrated by the International Monetary Fund’s estimates of GDP (everything citizens and businesses earn together) for all countries.
The size of the Japanese economy is expected to reach nearly 4 trillion euros (4,000 billion euros) this year. This is 0.2 percent lower than in 2022. The German economy is actually growing by 8.4 percent, to about 4.15 trillion euros.
The main reasons for this change in attitude are inflation, which is much higher in Germany than in Japan, and the depreciation of the Japanese yen against the dollar.
The International Monetary Fund expects Japan to decline further in the rankings of the largest economies. India, which recently became the world’s most populous country, will become the world’s fourth largest economy by 2026 and third by 2027.
In 1968, Japan became the second largest economy in the world after the United States, when it overtook West Germany. In 2010, China ranked second.
The Dutch economy ranks eighteenth in the world in terms of GDP of more than €935 billion.
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