South Korea surpasses Japan's per capita GDP in 2022 and 2023

Japan retreats to record-low 22nd place among OECD economies

20241223N Marunouchi commuters

The weak yen is weighing on Japan's GDP in dollar terms.(Photo by Satoko Kawasaki) 

HATSUKI SATO, Nikkei staff writer

TOKYO -- South Korea outstripped Japan in per capita gross domestic product for the first time ever in 2022, new data from Tokyo shows, a reversal caused by Japan's weak yen and aging population.

South Korea also topped Japan in 2023, the Cabinet Office said in the annual economic data released Monday. South Korean GDP figures received a boost from the nation's retroactive revisions.

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