Japan’s nominal gross domestic product will be overtaken by Germany this year as it slips from No. 3 to No. 4 in the world on a U.S. dollar basis, according to new projections by the International Monetary Fund.
Nominal GDP describes the total market value of goods and services produced in a country, using current prices and without inflation adjustment.
Although Japan has experienced a prolonged period of low growth, it has held onto its place as the world's third-largest economy for more than a decade. Japan was previously the world's No. 2 economy after the United States, but ceded that position to China in 2010.
With your current subscription plan you can comment on stories. However, before writing your first comment, please create a display name in the Profile section of your subscriber account page.