TOKYOApril 22 (News On Japan) – Japan’s nominal GDP is expected to reach about $4.31 trillion in 2025, according to International Monetary Fund (IMF) estimates.
India’s nominal GDP, on the other hand, is expected to rise to about $4.34 trillion next year, surpassing Japan. As a result, Japan is expected to drop to fifth position in the global GDP rankings.
Japan’s history in the global GDP rankings has been marked by remarkable growth, challenges and shifts in recent decades. After World War II, Japan experienced what is often called the “Japanese Economic Miracle.” Between the 1950s and the early 1970s, Japan underwent rapid industrialization and economic expansion, driven by high investment rates and efficient production techniques, especially in the automotive and electronics industries.
By the 1980s, Japan had become the world’s second largest economy, a position it held until 2010. This period was marked by the asset price bubble of the late 1980s, when stock and real estate prices soared, only to burst initially. from the nineties. The ‘lost decade’ (or decades, as some argue) that followed was characterized by economic stagnation and deflation, which significantly slowed growth.
In 2010, China surpassed Japan to become the world’s second-largest economy after the United States, reflecting Japan’s slow growth and China’s rapid economic expansion. Since then, Japan has remained in third place globally until recent developments where the country has faced competition from emerging economies such as India, which has demonstrated robust economic growth thanks to its large population base, growing technology sector and increasing domestic consumption.
Source: ANN
