Japan loses world's top creditor status to Germany
Japan is no longer the world's top creditor. That title goes to Germany, after Japan slipped from the number-one spot for the first time in 34 years, even with its net overseas assets at a record high.
The Finance Ministry says the net figure at the end of last year increased almost 13 percent to 533.5 trillion yen, or over 3.7 trillion dollars.
Germany comes in at 569.6 trillion yen. The country continues to post trade surpluses and now has the world's largest net overseas assets in yen terms. China is third after Japan.
The figure is calculated by subtracting the value of assets held in a country by foreign entities from the value of assets the country's government, companies and individuals own abroad.
Japan's overseas assets stand at 1,659 trillion yen, or over 11.6 trillion dollars.
Japanese businesses stepped up their direct investment in the United States and the Netherlands. A weaker yen boosted the assets' value in yen terms.
Japan's overseas liabilities also rose, up for a sixth straight year to 1,125 trillion yen, or about 7.9 trillion dollars.
2024 was also the sixth year in a row for Japan's net overseas assets to hit a record high.
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