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Portugal slips into double-dip recession after the economy contracts by 0.7% in the first quarter of 2011, with a 0.6% c

Portugal slips into double-dip recession after the economy contracts by 0.7% in the first quarter of 2011, with a 0.6% contraction in the last quarter of 2010, it is reported today

Japan has a highly developed mixed economy, often referred to as an East Asian model. According to the IMF forecast for 2025, it will be the fifth-largest economy in the world by nominal GDP and the fifth-largest by purchasing power parity (PPP) by the end of the year. It constituted 3.7% of the world's economy on a nominal basis in 2024. According to the same forecast, the country's nominal per capita GDP (PPP) will be $56,440 (2025). Due to a volatile currency exchange rate, Japan's nominal GDP as measured in American dollars fluctuates sharply.

A founding member of the G7 and an early member of the OECD, Japan was the first country in Asia to achieve developed country status. In 2024, Japan was the sixth-largest in the world as an importer and eight-largest as an exporter.

Historical Significance

Japan has a highly developed mixed economy, often referred to as an East Asian model.

Events Before

  1. New FINA rules re competition swimsuits come into effect; all body-length swimsuits banned; men's suits to maximally cov

    New FINA rules re competition swimsuits come into effect; all body-length swimsuits banned; men's suits to maximally cover from the waist to knee, and women's from shoulder to knee; fabric must be a "textile" or woven material

  2. Earthquake devastates Haiti, killing an estimated 100,000 to 160,000 people and destroying the majority of the capital P

    Earthquake devastates Haiti, killing an estimated 100,000 to 160,000 people and destroying the majority of the capital Port-au-Prince

  3. "Easy Rider" director and actor Dennis Hopper (73) divorces his fifth wife Victoria Duffy due to irreconcilable differen

    "Easy Rider" director and actor Dennis Hopper (73) divorces his fifth wife Victoria Duffy due to irreconcilable differences and out-of-control spending

  4. Infanta Elena, Duchess of Lugo (46) divorces Lord of Tejada, Jaime de Marichalar (46) after 15 years of marriage

    Infanta Elena, Duchess of Lugo (46) divorces Lord of Tejada, Jaime de Marichalar (46) after 15 years of marriage

  5. Alexandre Bilodeau wins the gold medal in the freestyle skiing men's moguls event, becoming the first Canadian to win go

    Alexandre Bilodeau wins the gold medal in the freestyle skiing men's moguls event, becoming the first Canadian to win gold during an Olympic Games hosted in Canada

Events After

  1. Actress Parminder Nagra files for divorce from photographer James Stenson due to irreconcilable differences after 3 year

    Actress Parminder Nagra files for divorce from photographer James Stenson due to irreconcilable differences after 3 years of marriage

  2. American actor Dick Van Dyke (86) weds second wife, American make-up artist Arlene Silver (40) in Malibu, California

    American actor Dick Van Dyke (86) weds second wife, American make-up artist Arlene Silver (40) in Malibu, California

  3. "Twilight" actor Peter Facinelli (38) divorces "Beverly Hills 90210" actress Jennie Garth (39) due to irreconcilable dif

    "Twilight" actor Peter Facinelli (38) divorces "Beverly Hills 90210" actress Jennie Garth (39) due to irreconcilable differences after 11 years of marriage

  4. Actress and model Heidi Klum (39) divorces British soul and R&B singer-songwriter Seal (49) due to irreconcilable differ

    Actress and model Heidi Klum (39) divorces British soul and R&B singer-songwriter Seal (49) due to irreconcilable differences after almost seven years of marriage

  5. "The Lion King" becomes highest grossing Broadway show, overtaking "The Phantom of the Opera"

    "The Lion King" becomes highest grossing Broadway show, overtaking "The Phantom of the Opera"

More from the 2010s

New FINA rules re competition swimsuits come into effect; all body-length swimsuits banned; men's suits to maximally cov

New FINA rules re competition swimsuits come into effect; all body-length swimsuits banned; men's suits to maximally cover from the waist to knee, and women's from shoulder to knee; fabric must be a "textile" or woven material

10 people are killed, and 120 are injured in a stampede in Luanda, Angola

10 people are killed, and 120 are injured in a stampede in Luanda, Angola

Dutchman Michael van Gerwen wins his first PDC World Darts Championship, defeating Peter Wright of Scotland 7-4; it is t

Dutchman Michael van Gerwen wins his first PDC World Darts Championship, defeating Peter Wright of Scotland 7-4; it is the first time no Englishman has been in the final

Lithuania adopts the euro as its currency, replacing the Litas and becoming the 19th member of the Eurozone

Lithuania adopts the euro as its currency, replacing the Litas and becoming the 19th member of the Eurozone

Frequently Asked Questions

What happened on May 13, 2011?
Japan has a highly developed mixed economy, often referred to as an East Asian model. According to the IMF forecast for 2025, it will be the fifth-largest economy in the world by nominal GDP and the fifth-largest by purchasing power parity (PPP) by the end of the year. It constituted 3.7% of the world's economy on a nominal basis in 2024.
Why is Portugal slips into double-dip recession after the economy contracts by 0.7% ... significant?
Japan has a highly developed mixed economy, often referred to as an East Asian model.

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May 13 in HistoryYear 2011