The German Bundesbank published Germany’s international investment position for end-2024, showing net foreign assets of EUR 3,452bn, or just over 80% of nominal gross domestic product. The net position increased by EUR 555bn over 2024, with both external assets and liabilities rising across all components, particularly in cross-border securities investment and other investment. Net capital exports recorded in the financial account amounted to EUR 262bn, while non-transaction changes added a further EUR 293bn, reflecting valuation effects and other adjustments. Gross external assets rose by EUR 1,248bn to EUR 13,852bn and gross liabilities increased by EUR 693bn to EUR 10,399bn. The net direct investment position increased to around EUR 932bn and the net securities investment position rose to EUR 1,034bn, as residents’ holdings of foreign securities climbed to EUR 4,573bn and non-residents’ holdings of German securities reached EUR 3,539bn, supported by both transactions and market price effects. The net position in other investment increased to EUR 1,073bn, and the net balance of financial derivatives and employee stock options rose to EUR 50bn. The Bundesbank’s foreign currency reserves increased to EUR 364bn, mainly due to positive market price effects dominated by a higher gold price.
German Bundesbank 2025-09-30
German Bundesbank reports Germany’s net foreign assets rose to EUR 3,452bn at end-2024
The German Bundesbank reported Germany's international investment position at the end of 2024, with net foreign assets reaching EUR 3,452bn, over 80% of GDP. The net position rose by EUR 555bn, driven by increases in cross-border securities and other investments. Gross external assets and liabilities grew significantly, with notable rises in net direct and securities investment positions, while foreign currency reserves increased to EUR 364bn due to higher gold prices.