Germany to overtake Japan as third-largest economy

Germany’s economy is projected to dislodge Japan’s as the world’s third-largest in 2023, helped by a slide in the yen against the dollar and the euro, Bloomberg said, Azernews reports.

The International Monetary Fund’s latest projections estimate Germany’s nominal gross domestic product at $4.43 trillion this year, compared with $4.23 trillion for Japan. That would leave Germany lagging behind only the United States and China in terms of economic size.

The projections come as the yen teeters close to the 160 mark against the euro and remains within striking distance of the 33-year low against the dollar that sparked a second round of currency intervention in October last year. The euro last reached 160 yen in August 2008.