TOKYO, Japan (CNN) -- The Japanese economy grew 1.1% in the final quarter of 2009 when compared with the third quarter, barely holding off China to remain the second-largest economy in the world, Japan's Cabinet Office reported Monday.
Japan's nominal gross domestic product -- a basic measure of a country's overall economic output -- grew at an annual rate of 4.6% for the year, making it worth ¥474.9 trillion, or $5.273 trillion, based on current exchange rates.
Japan's economy was helped by a rebound in exports, led by sales to China, which is Japan's largest overseas market.
Despite the upbeat news about Japan's economy, analysts say China's blistering growth will drive it past Japan's economy sometime in 2010.
A fast-growing Chinese economy finished 2009 with a GDP value of 33.53 trillion yuan -- equal to $4.906 trillion -- but has been growing at an annual rate of 8 to 10%, or twice that of Japan.
The United States remains the world's largest economy, with a value of about $14 trillion.
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||4.09%||4.03%|
|15 yr fixed||3.25%||3.18%|
|30 yr refi||4.12%||4.07%|
|15 yr refi||3.29%||3.19%|
Today's featured rates:
Shares of several uranium miners are soaring this year on hopes that Donald Trump will commit more investments to nuclear power. But investors need to get careful. The stocks are as volatile as radioactive elements. More
President Trump promised to 'buy American and hire American.' He says his policies will create 25 million new jobs, the most of any U.S. president in history. CNNMoney lays out just how hard that will be. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
If you're smart about when you first claim Social Security, you can increase your benefits and reap the rewards for the rest of your life. More