With the yen reaching a 14-year low against the euro, we estimate that Germany's GDP has overtaken Japan's in US$-terms. However, as the yen is now more severely undervalued relative to fundamentals, we think it will regain more lost ground than the euro over the coming years so Japan will retain its lead over Germany.
Asia Drop-In: Join our online Asia briefing on Thursday, 27th October for the latest on China’s Party Congress, yen weakness and regional central bank hawkishness. Register here.
Become a client to read more
This is premium content that requires an active Capital Economics subscription to view.
Already have an account?
You may already have access to this premium content as part of a paid subscription.
Sign in to read the content in full or get details of how you can access it
Register for free
Sign up for a free account to gain:
- Unlock additional content
- Register for Capital Economics events
- Receive email updates and economist-curated newsletters
- Request a free trial of our services