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3d ago

Germany Overtakes Japan in Creditor Rankings as Japanese Foreign Assets Reach Record

Germany’s net assets reached ¥569.7 trillion after a €248.7 billion export-driven surplus, putting it ahead of Japan’s ¥533.1 trillion.

Japanese national flag hoisted atop of the Bank of Japan headquarters is seen through trees in Tokyo, Japan January 23, 2025. REUTERS/Issei Kato/File Photo
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Japan | Image: Shutterstock

Overview

  • Japan’s net external assets rose 12.9% to a record ¥533.1 trillion in 2024.
  • Japan’s gross external assets climbed to ¥1,659 trillion and its external debt rose to ¥1,126 trillion by the end of 2024.
  • The euro’s 5% appreciation and the dollar’s 11.7% gain against the yen boosted the yen value of overseas holdings.
  • China held third place with ¥516.3 trillion in net external assets at the close of 2024.
  • Japanese firms maintained strong outbound direct investment in the United States and United Kingdom as US tariff measures remained in place.