Last Year, Japan's Per Capita GDP Dropped One Rank to 21st... South Korea Maintains 22nd Place

In the ranking of nominal GDP per capita among OECD member countries last year, Japan ranked 21st, and South Korea ranked 22nd.

On the 25th, Japan's Cabinet Office announced that Japan's nominal GDP per capita for the 2022 fiscal year (April 2022 to March 2023) was $34,064 (approximately 44 million KRW), ranking 21st among the 38 OECD member countries.

[Image source=Yonhap News]

This represents a decrease of $5,970 (approximately 8.5 million KRW) from the previous year ($40,034), causing Japan to drop from 20th to 21st place. This decline is attributed to the weakening of the yen against the dollar and prolonged low economic growth.

In January this year, the yen-dollar exchange rate was around 130 yen per dollar, but it surged to nearly 152 yen in October. This is the lowest value of the yen in 33 years since 1990.

Japan's nominal GDP totaled $4.2601 trillion last year, ranking third in the world after the United States ($25.4397 trillion) and China ($17.9632 trillion). Japan's share of the global GDP fell from 10.1% in 2005 to 4.2% last year.

Meanwhile, South Korea's nominal GDP per capita last year was $32,423 (approximately 42 million KRW), down $2,719 from the previous year ($35,142). However, South Korea maintained its 22nd place ranking among OECD member countries, the same as the previous year.

This content was produced with the assistance of AI translation services.