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Submission: On December 31 via api from US — Scanned from US
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Skip to content Your browser does not support JavaScript, or it is disabled．Please check the site policy for more information. * * Twitter * Facebook Language * 日本語 * English * HOME * What’s New * National Report * Politics * Business * Asia & World * China * Korean Peninsula * Around Asia * World * Sci & Tech * Culture * Style * Food * Movies * Manga & Anime * People * Travel * Sports * Opinion * Editorial * Vox Populi * Views * Special The Asahi Shimbun > National Report > article JAPAN’S PER CAPITA GDP RANKS 22ND IN OECD, BEHIND SOUTH KOREA By HISASHI NAITO/ Staff Writer December 24, 2024 at 13:48 JST * Share * Tweet list * Print Japan’s nominal gross domestic product per capita in 2023 ranked 22nd among the 38 members of the Organization for Economic Cooperation and Development (OECD), matching its lowest level on record, the Cabinet Office said. Japan’s figure, measured in U.S. dollars, dropped by 0.8 percent from the previous year to $33,849 (5.3 million yen), the Cabinet Office said Dec. 23. For the first time since comparable data became available in 1980, South Korea overtook Japan in the OECD rankings. South Korea ranked 21st, with a per capita GDP of $35,563. Japan’s ranking stayed at 22nd, the same as in 2022. According to the Cabinet Office, South Korea revised its GDP calculation standards earlier this year. A review of past figures revealed that South Korea’s per capita GDP had already exceeded Japan’s in 2022. Per capita GDP is a key indicator prioritized by the administration of Prime Minister Shigeru Ishiba, who pledged to increase the figure in his first policy speech after taking office. Japan’s ranking has been on a downward trend since peaking at second place in 2000. In 2022, Japan was overtaken by Italy and fell to the lowest ranking among the Group of Seven nations for the first time in 14 years. “Not only the weakening yen and the declining competitiveness of Japanese companies but also the aging population, which has reduced individual earning capacity, are major contributing factors,” Shinichiro Kobayashi of Mitsubishi UFJ Research and Consulting Co. said of Japan’s ranking. Nominal GDP reflects changes in prices, so Japan’s yen-denominated GDP increased, driven largely by rising prices. However, the depreciation of the yen outweighed this growth, resulting in a decline in Japan’s nominal GDP when measured in U.S. dollars. Luxembourg ranked first in per capita GDP in 2023 at $128,423, around 3.8 times that of Japan. The United States ranked sixth at $81,861, roughly 2.4 times higher than Japan. The Cabinet Office also said Japan’s nominal GDP in 2023 was $4.2137 trillion, accounting for 4.0 percent of global GDP. This marks a 0.2 percentage point decline from the previous year and the lowest since comparable data became available in 1980. The United States ranked first with a nominal GDP of $27.4406 trillion, making up 25.9 percent of global GDP. China followed in second place with $17.7948 trillion, or 16.8 percent of the total. Japan ranked fourth, behind Germany, which accounted for 4.3 percent of global GDP. RELATED NEWS * Japan’s GDP hits record low 4.2% share in global economy December 26, 2023 * Japan’s GDP falls behind Germany to fourth place amid weak yen February 16, 2024 * Japan set to drop to 4th largest economy after Germany January 16, 2024 * IMF: Japanese economy to drop to 4th in world, trail Germany October 25, 2023 * Japan’s economy slips to fourth-largest, trails U.S., China and now Germany February 15, 2024 * Share * Tweet list * Print * * TRENDING NOW Last 24 hours Last 7 days 1. ‘Miracle town’ in Okayama with a spin on how English is taught 2. 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City’s samurai cat mascot ready to pounce on Chinese market VIDEOS * Giant, sacred snake greets New Year’s visitors at temple in Kyoto December 30, 2024 * Princess Kako turns 30, prays disaster victims all live in peace December 29, 2024 * JAL crew saved everyone aboard in Jan. 2 crash despite chaos December 25, 2024 RECOMMENDED * Diplomatic Documents A series based on diplomatic documents declassified by Japan’s Foreign Ministry * Memories of Hiroshima and Nagasaki Here is a collection of first-hand accounts by “hibakusha” atomic bomb survivors. * YOASOBI A peek through the music industry’s curtain at the producers who harnessed social media to help their idols go global. * Taste of Life Cooking experts, chefs and others involved in the field of food introduce their special recipes intertwined with their paths in life. * Memories of Nikkei Americans A series about Japanese-Americans and their memories of World War II Asahi Shimbun on Twitter LEARNING ENGLISH * Asahi Weekly In-house News and Messages LINK * The New York Times BACK TO TOP * About Us * Site Policy * Privacy * Copyright * Contact Us * Transmission of user information to external service providers（利用者情報の外部送信） Copyright © The Asahi Shimbun Company. 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