Japan on the verge of losing its 3rd biggest economy tag #shorts #japan #japanese #theunderline
Last year Japan’s GDP shrank for two straight quarters that made the country slip into a recession Japan’s economy was the second largest until 2010 when it was overtaken by China the shift has been attributed to the yens sha Falls against the dollar over the past 2 years
And now Japan has lost its title as the world’s third biggest economy to Germany according to official data Japan’s economy unexpectedly slow due to weak domestic demands the country’s GDP contracted by a worse than expected 4% in the last 3 months of 2023 compared to a earlier year Japan is facing
Structural challenges including an aging population and a labor market that has not fully adapted to changing economic conditions but Japan’s relative weakness also reflect a decline in its relative population and lagging productivity and competitiveness
Last year, Japan’s GDP shrank for two straight quarters that made the country slip into a recession. #Japan #economy was the second largest until 2010 when it was overtaken by #China. The shift has been attributed to the yen’s sharp falls against the dollar over the past two years. And now Japan has lost its title as the world’s third-biggest economy to #Germany .
According to official data, Japan’s economy unexpectedly slowed due to weak domestic demand. The country’s gross domestic product (GDP) contracted by a worse-than-expected 0.4% in the last three months of 2023, compared to a year earlier. It came after the economy shrank by 3.3% in the third quarter.
Japan is facing structural challenges, including an aging population and a labor market that has not fully adapted to changing economic conditions. Inflation has slowed down the purchasing power of consumers, leading to a decline in real domestic spending. But Japan’s relative weakness also reflects a decline in its population and lagging productivity and competitiveness.
#japanese #gdp #economy #population #chinanews #germanynews #germany #worldnews #trending #latestnews #trendingshorts #theunderline #worldpopulation #news #youtubeshort #shortvideo #short