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It became the second largest economy in the world in 1968 and remained so until 2010, [26] and on a nominal per capita basis, the most high-income among the G7 countries in the 1980s and 1990s. [44] In 1995, Japan’s share of the world’s nominal GDP was 17.8%, reaching approximately 71% of that of the United States.
Gross domestic product (GDP) is the market value of all final goods and services from a nation in a given year. [ 2 ] Countries are sorted by nominal GDP estimates from financial and statistical institutions, which are calculated at market or government official exchange rates. Nominal GDP does not take into account differences in the cost of ...
2024 GDP (nominal) in billions — Asia: 42.72 trillion: 1 China: 18.53 trillion [2] 2 Japan: 4.11 trillion [3] 3 India: 3.93 trillion [4] 4 South Korea: 1.76 trillion 5 Indonesia: 1.47 trillion 6 Turkey: 1.11 trillion 7 Saudi Arabia: 1.11 trillion 8 Taiwan: 803.0 billion 9 Thailand: 548.9 billion 10 Israel: 530.6 billion 11 United Arab Emirates
The first set of data on the left columns of the table includes estimates for the year 2023 made for each economy of the 196 economies (189 U.N. member states and 7 areas of Aruba, Hong Kong, Kosovo, Macau, Palestine, Puerto Rico, and Taiwan) covered by the International Monetary Fund (IMF)'s International Financial Statistics (IFS) database.
For the whole of 2023, Japan’s nominal GDP grew 5.7% over 2023 to come in at 591.48 trillion yen, or $4.2 trillion based on the average exchange rate in 2023.
National debt of Japan. Japan national debt to GDP. As of March 2023, the Japanese public debt is estimated to be approximately 9.2 trillion US dollars (1.30 quadrillion yen), or 263% of GDP, [1] and is one of the highest among developed nations. [2][3][4][5] 43.3% of this debt is held by the Bank of Japan. [6]
The global economic recession of the late 2000s significantly harmed the economy of Japan. The nation suffered a 0.7% loss in real GDP in 2008 followed by a severe 5.2% loss in 2009. In contrast, the data for world real GDP growth was a 3.1% hike in 2008 followed by a 0.7% loss in 2009. [129]
In 2011, the yen/dollar rate is 79.8 (average), valuing Japan's nominal 2011 GDP figure of 468.1 trillion yen, [1] at US $5.87 trillion or 37.9 trillion yuan (at 6.4588/dollar). That is less than the revised 2011 figure for China of 47.16 trillion yuan. [ 2 ]