[HIGHLIGHTS] Germany replaces Japan as number three in the world economy

Germany replaces Japan as number three in the world economy. Private consumption, which accounts for more than half of Japan's economic power, fell by 0.2 percent.

This is mainly due to the sharp fall in the value of the yen. Japan's nominal gross domestic product in 2023 amounted to 4.21 trillion dollars (3.9 trillion euros) The USA and China have by far the largest gross domesticProduct in the World. Japan was behind for years - but now Germany is the third largest economy.