Japan's per capita nominal gross domestic product was $35,922 in 2004, making it drop out of the top 10 among members of the Organization for Economic Cooperation and Development, according to a government report.
The Cabinet Office said the result is due to foreign-exchange factors and does not reflect Japan's actual economic situation. Japan ranked 11th among the 30 OECD members. Japan first made it to the top 10 list in 1984, when it ranked 10th, and was at the top in 1993.
"Japan's ranking fell because the yen had weakened against European currencies," the Cabinet Office said in releasing part of its National Accounts report for fiscal 2004, which ended last March.
Luxembourg topped the per capita GDP list with $70,499. Norway came second with $55,269, followed by Switzerland with $47,923, Ireland with $45,442 and Denmark with $45,118.
From the Group of Seven advanced economies, the United States ranked seventh, Britain 12th, Germany 15th and France 16th.
Japan's nominal GDP for 2004 came to $4.59 trillion, ranking second after the United States with $11.68 trillion.
Its national income, comprised of corporate profits and employee wages, rose 0.7 percent from the year before to $3.15 trillion in fiscal 2004 for the second straight year of increase.
Corporate profits marked the third straight yearly increase, and returns for employers decreased for the fourth year running.
The household savings rate -- the amount of money transferred to savings from disposable income -- dropped to 2.8 percent in fiscal 2004 from 4.1 percent the previous year for the seventh straight yearly drop. The Cabinet Office said this suggests seniors used their savings more as Japan is experiencing an aging population and declining birthrate.
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.