Latest news with #netexternalassets
Malay Mail
27-05-2025
- Business
- Malay Mail
Germany overtakes Japan as world top creditor for first time since 1991, China places third
TOKYO, May 27 — Japan has lost its position as the world's top creditor after 34 years, falling behind Germany, even as its net external assets last year hit a record high, officials said Tuesday. Japan's net external assets as of the end of last year stood at 533.05 trillion yen (US$3.7 trillion), up 12.9 percent from a year earlier, according to data released by the finance ministry. That, however, was below Germany's 569.65 trillion yen, meaning Japan lost the top spot it has held since 1991, the finance ministry said. The government played down the development. 'Net external assets are determined by the accumulation of various factors, including changes in the prices of financial assets and debts as well as the balance of payments,' spokesman Yoshimasa Hayashi said. 'In light of these points and the fact that Japan's net foreign assets have been steadily increasing, we do not believe that the change in ranking alone should be taken as a sign of a major change in Japan's position,' Hayashi told reporters. Mainland China remained in third place with 516.28 trillion yen, followed by Hong Kong's 320.26 trillion yen and Norway's 271.83 trillion yen according to the ministry's data. For Japan, a weaker yen contributed to increases in both foreign assets and liabilities, but assets grew at a faster pace, driven in part by expanded business investment abroad, according to the data. — AFP
Reuters
27-05-2025
- Business
- Reuters
Japan net external assets hit record, but surrenders world's top creditor spot
TOKYO, May 27 (Reuters) - Japan's net external assets rose to a record 533.1 trillion yen ($3.73 trillion) in 2024, the Ministry of Finance said on Tuesday, rising for a seventh straight year thanks to a weak yen and strong appetite for overseas corporate acquisitions. However, Japan surrendered its position as the world's top creditor for the first time in 34 years to Germany, which posted 569.7 trillion yen of net external assets as of the end of 2024. China ranked third with 516.3 trillion yen. The value of net external assets, held by the Japanese government, businesses and individuals, increased 60.9 trillion yen, or 12.9%, from a year before. The dollar and euro strengthened against the yen by 11.7% and 5% respectively, boosting the value of existing overseas assets in yen terms, while brisk overseas merger and acquisition activities by Japanese companies also contributed to the growth. Gross external assets stood at 1,659 trillion yen as of the end of last year, up 169 trillion yen from a year earlier, and external debt came to 1,126 trillion yen, up 109 trillion yen. The ministry also released revised current account balance data. For the whole of 2024, Japan logged a current account surplus of 29.4 trillion yen, versus the preliminary 29.3 trillion yen surplus. ($1 = 142.7200 yen)
