Such data showed the latest forecasts of the International Monetary Fund, write Kyodo.
India, which has overtaken China to become the world’s most populous country with more than 1.4 billion people, is likely to have a larger GDP than Japan in 2026, according to the IMF’s 2028 projections.
While Japan is expected to be the world’s fifth largest economy between 2026 and 2028, India’s GDP is projected to rank fourth in 2026 and third in 2027.
In 1968, Japan reportedly eclipsed West Germany in gross national product, the leading indicator at the time, to become the world’s second-largest economy after the United States.
The country held this position until it was overtaken by China in 2010, dropping to third place.
Despite foreign exchange rates having a significant impact on GDP, Japan has experienced a long period of low growth. Germany’s population is about two-thirds that of Japan, but the growth gap between the two countries has been narrowing in recent years.
According to IMF estimates, Japan’s nominal GDP in 2023 will be around $4.23 trillion, down 0.2% from the previous year, compared to Germany’s $4.43 trillion, up 8.4%.
- At the same time, in September the managing director of the IMF, Kristalina Georgieva, said that the recovery of the growth of the world economy has slowed down significantly, mainly due to the shock of Russia’s war against Ukraine.