Germany ends Japan's 34-year run as world's top creditor

JAPAN LOST ITS position as the world's largest creditor nation for the first time in 34 years, giving up the title to Germany despite posting a record amount of overseas assets.

- BLOOMBERG

Japan's net external assets reached ¥533.05 trillion ($3.7 trillion) at the end of 2024, rising about 13% from the previous year, according to data released Tuesday by the Ministry of Finance.

While the figure marked an all-time high, it was overtaken by Germany, whose net external assets totaled ¥569.7 trillion.

China stayed in third place with net assets of ¥516.3 trillion.

Japan began its streak at the top by overtaking Germany in 1991.

Germany's ascent reflects its substantial current account surplus, which reached €248.7 billion in 2024 thanks largely to a strong trade performance.

Japan's surplus in turn was ¥29.4 trillion according to the finance ministry, equivalent to around €180 billion.