Japan Loses Spot as Third-Largest Economy

Photo by taro ohtani on Unsplash

AP reports that Japan’s economy is now the world’s fourth-largest after it contracted in the last quarter of 2023 and fell behind Germany:

Japan was historically touted as “an economic miracle,” rising from the ashes of World War II to become the second largest economy after the U.S.. It kept that going through the 1970s and 1980s. But for most of the past 30 years the economy has grown only moderately at times, mainly remaining in the doldrums after the collapse of its financial bubble began in 1990.

The U.S. remains the world’s largest economy by far followed by China and India. Russia is now number 11, just ahead of Mexico. You can see the full list here.


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