Japan still world's top creditor at end of 2019

May 27, 2020 | News On Japan

May 27, 2020 (Japan Times) - Japan remained the worldâ€™s largest creditor at the end of 2019, with the net balance of external assets held by its government, companies and individual investors hitting a record Â¥364.53 trillion ($3.40 trillion), the Finance Ministry said Tuesday.

The figure, up 6.8 percent from a year earlier and the highest since comparable data became available in 1996, reflected increased direct investments abroad by Japanese firms and a rise in prices of foreign stocks held by domestic investors.

Japan was the worldâ€™s largest holder of overseas net assets for the 29th consecutive year, the ministry said.

A ministry official refrained from presenting an outlook for the possible impact of the novel coronavirus pandemic on the 2020 balance.

In the reporting year, Germany had the worldâ€™s second-largest net external assets, with Â¥299.83 trillion at the end of 2019, followed by China with Â¥231.77 trillion. The United States was the biggest net external debt holder with Â¥1.199 quadrillion, according to the ministry.

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