Japan's GDP per capita, 22nd out of 38 OECD countries...21st place in Korea.

Japan's per capita gross domestic product (GDP) ranked 22nd among 38 member countries of the Organization for Economic Cooperation and Development (OECD) last year (2023), one place lower than South Korea's, according to Japanese media, including the Nihon Keizai Shimbun.

Japan's per capita GDP in terms of the U.S. dollar, calculated by the Japanese Cabinet, was $33,849, down 0.8% from the previous year.

Korea ranked 21st, one place higher than Japan, with $35,563.

"The change in Korea's statistical standards has reversed Korea's and Japan's rankings from 2022," the newspaper said. "It is the first time since 1980 that Japan's per capita GDP is below Korea's."

In June, the Bank of Korea announced the "Results of the First Reorganization of the National Account as of 2020," which changed the base year for national accounts statistics from 2015 to 2020.

At that time, it was investigated that per capita income in both Korea and Japan was reversed due to the reorganization of the base year.

Japan's per capita GDP was the lowest among the G7 countries, below Italy ($39,03).

Last year, Japan's nominal GDP totaled $4.2137 trillion, the fourth largest in the world after the United States ($27.44 trillion), China ($17.7948 trillion), and Germany ($4.5257 trillion).

Japan ranked third in 2022 in nominal GDP total but fell behind Germany last year.

"Dollar-denominated GDP is an indicator of national strength," the newspaper said, pointing to the weak yen and the decline in labor productivity due to aging population as the cause of the decline in GDP rankings.