Tuesday, January 17, 2006

Japan Falls From OECD Top 10 List of Per-Capita GDP in 2004

Kyodo News International:

Japan's per-capita nominal gross domestic product was $35,922 in 2004, making it fail to be included in the top 10 list among Organization for Economic Cooperation and Development members, the government said Friday.

The Cabinet Office said the result is due to foreign exchange factors and does not reflect Japan's actual economic situation. Japan ranked 11th among the 30 OECD members. Japan first made it to the top 10 list in 1984, when it ranked 10th, and was at the top in 1993.

"Japan's ranking fell because the yen had weakened against European currencies," the Cabinet Office said in releasing part of its National Accounts report for fiscal 2004, which ended last March.

Luxembourg topped the per-capita GDP list with $70,499. Norway came second with $55,269, followed by Switzerland with $47,923, Ireland with $45,442 and Denmark with $45,118.

Among the Group of Seven advanced economies, the United States ranked seventh, Britain 12th, Germany 15th and France 16th.

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