Overview

• Japan’s net foreign assets rose to ¥533.05 trillion (about €3.3 trillion) at the end of 2024, marking a 12.9 percent annual increase.
• Germany’s net foreign assets reached approximately €3.51 trillion, overtaking Japan’s total for the first time since 1991.
• A weaker yen has boosted the valuation of Japan’s foreign assets and liabilities denominated in other currencies.
• Germany’s sustained trade surplus has been the main contributor to its rise as the world’s top creditor nation.
• Japanese officials have downplayed the change in ranking as not reflecting a major shift in the country’s overall financial position.