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Net international investment position

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US Net International Investment Position

The difference between a country's external financial assets and liabilities is its net international investment position (NIIP).[1] A country's external debt includes both its government debt and private debt, and similarly its public and privately held (by its legal residents) external assets are also taken into account when calculating its NIIP.[2] Note that commodities, as well as currencies tend to follow cyclical patterns, whereby they undergo significant valuation changes, of which is reflected in NIIP.

A country's international investment position (IIP) is a financial statement setting out the value and composition of that country's external financial assets and liabilities. A positive NIIP value indicates a nation is a creditor nation, while a negative value indicates it is a debtor nation.

History

As recently as 1960, The US was the world's largest creditor. But over the last few decades the US has now become the world's largest debtor; since the 1980s, Japan has replaced USA as the world's largest creditor nation. Technically, Japan had passed West Germany. With the rapid ascent of Hong Kong Monetary Authority's credit position since 2015, China (including Hong Kong and Macau) and Japan have been both competing for the top creditor position.

U.S. Net International Investment Position over time through third quarter of 2018

List of countries and regions by net international investment position

Countries and regions Date GDP[3]Cite error: The <ref> tag has too many names (see the help page).

(US$MM)

Date NIIP[4]

(US$MM)

Date NIIP

(%GDP)

 Hong Kong 2019 372,989 2016 +1,180,677 2016 284.0[5]
 Taiwan 2017 579,302 2017 +1,180,824[6] 2017 203.8
 Singapore 2017 323,902 2016 +635,296 2014 182.0
 Norway 2017 396,457 2016 +732,542 2014 170.9
 Switzerland 2017 678,575 2016 +839,313 2014 119.6
 Saudi Arabia 2017 683,827 2016 +587,867 2014 106.6
 Netherlands 2017 825,745 2016 +557,748 2018 68.9[7]
 Japan 2017 4,872,135 2016 +3,067,264 2015 63.8
 Denmark 2017 324,484 2016 +164,023 2018 63.2[7]
 Germany 2017 3,684,816 2016 +1,797,290 2018 60.6[7]
 Belgium 2017 494,733 2016 +219,992 2018 43.9[7]
 Malta 2017 12,011 2016(Q3) +5,499 2018 65.6[7]
 Israel 2017 350,609 2016 +106,051 2017 43.3
 Venezuela 2017 210,085 2015 +134,450 2014 30.5
 Luxembourg 2017 62,393 2016 +13,266 2018 46.5[7]
 Iceland 2017 23,909 2016 +233 2019(Q1) 21[8]
 United Kingdom 2017 2,624,529 2016 -418,500 Q3 2019 −6.7[9]
 South Korea 2017 1,538,030 2016 +278,485 2016 19.8
 Russia 2017 1,527,469 2016 +226,954 2016 17.9
 Sweden 2017 538,575 2016 +80,567 2018 6.9[7]
 People's Republic of China 2017 12,014,610 2016(Q3) +1,747,082 2016 15.8
 Argentina 2017 637,717 2015 +52,581 2016 10.2
 Finland 2017 253,244 2016 +16,133 2018 −6.4[7]
 Canada 2017 1,652,412 2016 +140,242 2014 6.9
 Austria 2017 416,845 2016 +19,117 2018 3.8[7]
 Nigeria 2017 376,284 2015 -63,264 2014 −10.6
  Eurozone 2017 17,308,862 2016 -663,998 2014 −12.7[10]
 Philippines 2017 313,419 2016 -30,602 2014 −14.3
 Italy 2017 1,937,894 2016 -325,984 2018 −3.9[7]
 Kazakhstan 2017 160,839 2015(Q4) -41,894 2014 −15.2
 France 2017 2,583,560 2016 -370,149 2018 −11.4[7]
 India 2018 2,716,746 2019 -436,400 2019 −15.9[11]
 Chile 2017 277,041 2016(Q3) -53,500 2016 −17.7
 Czech Republic 2017 213,189 2016 -45,850 2018 −23.6[7]
 Brazil 2017 2,054,969 2016 -716,566 2014 −33.1
 Mexico 2017 1,149,236 2016 -482,209 2014 −33.3
 Slovenia 2017 48,868 2016 -14,479 2018 −26.7[7]
 Estonia 2017 25,973 2016 -8,218 2018 −26.7[7]
 Lithuania 2017 47,263 2016 -17,631 2018 −29.5[7]
 United States 2019(Q2) 21,340,000[12] 2019(Q1) -9,929,100[13] 2019 −46.5
 Indonesia 2017 1,015,411 2016 −320,958 2014 −47.2
 Romania 2017 211,315 2016 -82,858 2018 −44.7[7]
 Bulgaria 2017 56,943 2016(Q3) -27,030 2018 −36.8[7]
 Turkey 2017 849,480 2016 -356,149 2014 −54.7
 Australia 2018 1,420,045[14] 2019 -703,426[15] 2019 −49.5
 Slovakia 2017 95,938 2016 -49,609 2018 −66.9[7]
 Latvia 2017 30,319 2016 -15,341 2018 −49.1[7]
 Hungary 2017 152,284 2016 -70,222 2018 −46.8[7]
 Poland 2017 523,886 2016 -274,400 2018 −56.2[7]
 New Zealand 2017 201,486 2016(Q3) -120,159 2014 −64.7
 Croatia 2017 54,516 2016(Q3) -37,072 2018 −54.1[7]
 Spain 2017 1,313,951 2016 -931,766 2018 −77.1[7]
 Portugal 2017 218,064 2016 -204,712 2018 −100.8[7]
 Cyprus 2017 21,310 2016 -23,667 2018 −114.7[7]
 Greece 2017 200,690 2016 -253,097 2018 −137.9[7]
 Ireland 2017 333,994 2016 -519,308 2018 −142.5[7]
 Malaysia 2019(Q2) 84,455[16] 2019(Q2) -4,746[17] 2019(Q2) −5.6

See also

References

  1. ^ Bivens, L. Josh (December 14, 2004). "Debt and the dollar: The United States damages future living standards by borrowing itself into a deceptively deep hole". Epinet.org. Archived from the original on January 20, 2008. Retrieved 2009-06-28.
  2. ^ Ministry of Economic and Finance of Argentina International Investment Position Methodology page.1
  3. ^ "World Economic Outlook Database". International Monetary Fund. 17 April 2018.
  4. ^ "IMF Data". data.imf.org. Retrieved 2018-08-18.
  5. ^ Census and Statistics Department Hongkong International Investment Position at Year-End 2014
  6. ^ Central Bank of the Republic of China (Taiwan) [1]
  7. ^ a b c d e f g h i j k l m n o p q r s t u v w x y z aa "Net international investment position in % of GDP - annual data; code: tipsii10". Eurostat. Retrieved June 24, 2019.
  8. ^ Central Bank of Iceland [2]
  9. ^ https://www.ons.gov.uk/economy/nationalaccounts/balanceofpayments/bulletins/balanceofpayments/julytoseptember2019
  10. ^ European Central Bank International investment position of the euro area
  11. ^ "Reserve Bank of India - Press Releases". www.rbi.org.in. Retrieved 2019-09-04.
  12. ^ "Gross Domestic Product, Second Quarter 2019", Bureau of Economic Analysis.
  13. ^ "U.S. Net International Investment Position: First Quarter 2019", Bureau of Economic Analysis.
  14. ^ "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 16 October 2019.
  15. ^ "5302.0 - Balance of Payments and International Investment Position, Australia, Jun 2019". Australian Bureau of Statistics. 3 September 2019. Retrieved 22 November 2019.
  16. ^ "Department of Statistics Malaysia Official Portal". www.dosm.gov.my. Retrieved 2019-11-13.
  17. ^ "Department of Statistics Malaysia Official Portal". www.dosm.gov.my. Retrieved 2019-11-13.

Statistics

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