Wales have fallen two places to 17th in Fifa's world rankings, having risen to an all-time high of eighth in October.
Chris Coleman's side, who dropped to 15th in November, are now eight places below England, who remain ninth.
Northern Ireland are down one place from 29th while Scotland suffered the biggest fall of the home nations - slipping eight places to 52nd.
Republic of Ireland are up 11 places to 31st after their Euro 2016 play-off victory over Bosnia-Herzegovina.
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Wales finished runners-up to Belgium, who lead the rankings, in Euro 2016 qualifying Group B.
Argentina have risen to second while Germany have moved from second to fourth, behind Spain.
Fifa rankings top 10
1 Belgium, 2 Argentina, 3 Spain, 4 Germany, 5 Chile, 6 Brazil, 7 Portugal, 8 Colombia, 9 England, 10 Austria
14 Netherlands, 25 France, 30 Northern Ireland, 31 Republic of Ireland, 52 Scotland