Japan Dethroned as World's Biggest Creditor in 2024

   Tokyo, May 27 (Jiji Press)--Japan came second in the world in terms of net external assets at the end of 2024 after Germany, losing its position it had kept for 33 consecutive years as the world's largest creditor country, the Finance Ministry said Tuesday.
   Japan's net external assets--overseas assets owned by the government, companies and individuals in Japan minus external debts, or foreign investments in the country--increased 12.9 pct from a year before to 533,050 billion yen, hitting a record high for the sixth straight year.
   Based on exchange rates released by the International Monetary Fund, Germany's net external assets at the end of 2024 came to 569,651.2 billion yen. The net external assets of Germany, which runs a trade surplus, apparently grew at a faster pace than those of Japan, which has suffered a trade deficit in recent years.
   China came third with net external assets of 516,280.9 billion yen.
   The dollar stood at 157.89 yen at the end of 2024, rising by around 16 yen from a year before. The yen's weakening pushed up Japan's external debts by some 28 trillion yen and its external assets by around 110 trillion yen.

(2025/05/27-13:18)

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