Japan’s GDP per capita falls to 22nd in the world, below South Korea’s due to weak yen and aging population Asahi Shimbun, December 23, 2024, 18:15 The Cabinet Office announced on the 23rd that Japan’s nominal gross domestic product (GDP) per capita in 2023 will be $33,849 in US dollars, down 0.8% from the previous year, ranking 22nd among the 38 member countries of the Organization for Economic Cooperation and Development (OECD). Japan’s ranking was the same as the previous year, but it was the lowest since comparable data became available in 1980, and was below 21st-placed South Korea ($35,563). According to the Cabinet Office, South Korea revised the standards for calculating GDP this year. After reviewing past figures, it was found that China’s GDP per capita will still exceed that of Japan in 2022. This was the first time that South Korea had overtaken Japan in the rankings among OECD member states. GDP per capita is one of the indicators the government places great importance on, with Prime Minister Shigeru Ishiba pledged to “increase” it in his first policy speech since taking office. Japan’s ranking has continued to decline since peaking in second place in 2000. In 2022, it was overtaken by Italy and fell to last place in the G7 for the first time in 14 years. Shinichiro Kobayashi of Mitsubishi UFJ Research and Consulting analyzes, “Not only is the weak yen and the declining competitiveness of Japanese companies a major factor, but the aging population and resulting decline in earning power per person are also major factors.” Nominal GDP reflects fluctuations in prices, so Japan’s yen-based amount also increased due to rising prices. However, as the yen has weakened, the impact of the decline in value when converted into dollars has become greater. ※The following is a paid article ★1: 2024/12/23 (Mon) 18:40 Previous thread Japan’s GDP per capita is 22nd in the world due to the weak yen and aging population.
>>1 However, it seems that Japan has overwhelmed them in terms of GDP growth rate lol As expected from Korea, with the worst unemployment rate ever, the worst suicide rate ever, the worst employment rate ever, the worst exports ever, and the worst KOSPI ever lol Korea’s economy is collapsing just because of the high won rate and the fact that they’re ranked higher! It’s like the Democratic Party government is tolerating a strong yen lol.
It’s fine the way it is. Actually, there’s nothing we can do about it. Rather, we should teach them that the period of high economic growth was abnormal.
The country’s growth has come to an end as the Liberal Democratic Party has been in a long-term dictatorship and has focused on squandering tax money among its own elites.
>>38 The end of the Edo period was better because they were able to produce food themselves. Japan would be destroyed if they stopped importing flour and fertilizer.
Korea’s birth rate is 0.8. I hope Japanese people realize that it’s a shame to have children in Japan, where there is no future. They need to understand that the number of elderly people will continue to increase and that the singles tax and labor shortage will lead to negative GDP growth in this country.
Ah, Asahi. Kobayashi Shinichiro of Mitsubishi UFJ Research & Consulting is also a bit of a nonsense person. It’s time for a safe deposit box thief to stop speaking out about the economy.
I thought 22nd place in the world was surprisingly high, but it turns out it’s out of 38 OECD countries. And the OECD includes countries like Mexico, so it’s definitely not a collection of developed countries. And it’s less than half of those countries lol.
>>58 What, you had rice with soy sauce every morning? LOL Rice has become quite a luxury item in Japan now, so rice with soy sauce would be a treat LOL.
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