Japan's nominal gross domestic product (GDP) in 2023 is approximately US$4,210.6 billion, lower than Germany's US $4,456.1 billion, falling from third in the world to fourth. Some analysts believe that the main reason for the change in the economic status of Japan and Germany is not the improvement of Germany's strength, but the exchange rate.
Japan's economic malaise and difficulty in recovery did not begin with the impact of the epidemic, but were a continuation of the long-term chronic recession.