Germany Surpasses Japan to Become World's Top Creditor Nation After 34 Years (2024).

International

In May 2025, Japan’s Ministry of Finance (MoF) reported that Germany overtook Japan as the world’s largest creditor nation in 2024, marking the first such shift in 34 years (since 1991).


      - Germany’s Net External Assets (NEA) stood at JPY 569.7 trillion (USD 3.98 trillion), surpassing Japan’s NEA of JPY 533.05 trillion (USD 3.73 trillion) in the same year.

      - China retained the third position with NEA of JPY 516.28 trillion (USD 3.3 trillion), followed by Hong Kong with JPY 320.26 trillion and Norway with JPY 271.83 trillion.

     

Main Point :-   (i) As of the end of 2024, the United States of America (USA) continued to be the world's largest net debtor nation, with a Net International Investment Position (NIIP) of USD 26.23 trillion.

      (ii) The Japanese Yen (JPY) depreciated by 11.7% against the US Dollar (USD) in 2024 (year-end rate: JPY 157.89 per USD), which inflated Japan’s foreign-currency assets and liabilities. In contrast, Germany benefited from an approximate 5% increase in the euro-to-yen exchange rate during the same period.


About Germany

President: Frank-Walter Steinmeier
Capital: Berlin
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