5 Largest Economies in Asia

2. Japan

GDP: $4.2 trillion

Japan’s GDP has grown by 2.7% in the first quarter of 2023. The country’s major exports are electronics equipment and cars. In 2022, the size of the Japanese economy was estimated to be $4.2 trillion in terms of nominal GDP, which also made it the third largest economy in the world after China and the United States. However, economic experts have painted a gloomy picture of the economy for later this year, suggesting that impact from rate hikes in the U.S. and Europe are likely to affect Japanese exports.