Net international investment position

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US Net International Investment Position

The Net international investment position (NIIP) is the difference between the external financial assets and liabilities of a country.[1] External debt of a country includes government debt and private debt. Publicly and privately held external assets by a country's legal residents are also taken into account when calculating its NIIP.[2] Please note that commodities and currencies tend to follow a cyclical pattern by undergoing significant valuation changes, which is also reflected in NIIP.

The International investment position (IIP) of a country is a financial statement of the value and composition of its external financial assets and liabilities. A positive NIIP value indicates that a nation is a creditor nation, while a negative value indicates that it is a debtor nation.

History[edit]

The US was the world's largest creditor until the 1960s. However, over the last few decades, the US has become the world's largest debtor[citation needed]. Since the 1980s, Japan replaced the USA as the world's largest creditor nation[citation needed]. With the ascent of the Hong Kong Monetary Authority's credit position since 2015, China (including Hong Kong and Macau) and Japan have been 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[edit]

Countries and regions Date GDP[3]

(US$MM)

Date NIIP[4]

(US$MM)

Date NIIP

(%GDP)

 Albania 2019 15,418 2019 -8,028 2019 −52.1
 Argentina 2019 445,469 2019 +117,113 2019 26.3
 Armenia 2019 13,444 2019 -9,822 2019 −73.1
 Austria 2019 447,718 2020Q1 +66,321 2019 9.6[5]
 Bangladesh 2019 317,465 2019 -39,401 2019 −12.4
 Bhutan 2019 2,842 2019 -2,644 2019 −93.0
 Brazil 2019 1,847,020 2019 -731,906 2019 −39.6
 Belarus 2019 62,572 2020Q1 -32,488 2019 −51.2
 Belgium 2019 517,609 2020Q1 +199,098 2019 47.2[5]
 Cambodia 2019 26,730 2020Q1 -22,254 2019 −98.5
 Canada 2019 1,730,914 2020Q1 +658,507 2019 44.5
 Democratic Republic of the Congo 2019 48,994 2018 -19,779 2018 −42.0
 People's Republic of China 2019 14,140,163 2019 +2,123,995 2019 15.0
 Denmark 2019 347,176 2019 +271,675 2019 78.1[5]
 Germany 2019 3,863,344 2019 +2,747,700 2019 71.2[5]
 Hong Kong 2019 372,989 2019 +1,563,100 2019 419.1
 Iceland 2019 23,918 2020Q1 +4,882 2019(Q1) 21[6]
 Israel 2019 387,717 2020Q1 +153,015 2019 41.0
 Japan 2019 5,154,475 2020Q1 +3,453,557 2019 66.6
 Kuwait 2019 137,591 2019 +115,211 2019 83.7
 Luxembourg 2019 69,453 2020Q1 +31,284 2019 50.9[5]
 Malaysia 2019 365,303 2018 -18,761 2018 −5.2
 Malta 2019 14,859 2019 +9,003 2019 62.7[5]
 Mongolia 2019 13,637 2020Q1 -35,677 2019 −262.8
 Montenegro 2019 5,424 2018 -9,044 2018 −178.8
 Mozambique 2019 15,093 2018 -52,581 2018 −365.2
 Netherlands 2019 902,355 2019 +813,400 2019 89.2[5]
 Nicaragua 2019 12,528 2018 -16,921 2018 −129.0
 Norway 2019 417,627 2019 +996,600 2019 238.6
 Russia 2019 1,637,892 2019 +356,501 2019 21.8
 Saudi Arabia 2019 779,289 2019 +682,800 2019 87.6
 Singapore 2019 362,818 2019 +896,000 2019 247.0
 South Korea 2019 1,629,532 2020Q1 +565,066 2019 30.7
 Sweden 2019 528,929 2019 +112,903 2019 20.9[5]
  Switzerland 2019 715,360 2019 +838,700 2019 117.2
 Taiwan 2019 586,104 2019 +1,342,780[7] 2019 229.1
 Thailand 2019 529,177 2019 -9,738 2019 −1.8
 United Kingdom 2019 2,743,586 2019 -732,206 2019 −25.2[5]
 Finland 2019 269,654 2019 +4,655 2019 1.7[5]
 Nigeria 2019 446,543 2018 -82,598 2018 −20.7
 Philippines 2019 356,814 2019 -34,841 2019 −9.8
 Italy 2019 1,988,636 2019 -33,388 2019 −1.7[5]
 Kazakhstan 2019 170,326 2019 -61,573 2019 −36.2
 France 2019 2,707,074 2019 -633,584 2019 −23.3[5]
 India 2019 2,935,570 2019 -426,528[8] Dec. 2019 −15.9[9]
 Chile 2019 294,237 2018 -70,277 2018 −23.6
 Colombia 2019 327,895 2020Q1 -157,132 2019 −51.7
 Czech Republic 2019 246,953 2020Q1 -31,593 2019 −20.7[5]
 Mexico 2019 1,274,175 2019 -655,500 2019 −51.4
 Slovenia 2019 54,154 2020Q1 -8,855 2019 −19.3[5]
 Ukraine 2019 150,401 2019 -20,737 2019 −13.8
 Estonia 2019 31,038 2020Q1 -6,992 2019 −19.7[5]
 Lithuania 2019 53,641 2019 -12,895 2019 −23.7[5]
 Indonesia 2019 1,111,713 2019 −338,231 2019 −30.4
 Romania 2019 243,698 2019 -107,247 2019 −43.4[5]
 Bulgaria 2019 66,250 2019 -21,561 2019 −31.6[5]
 Turkey 2019 743,708 2020Q1 -314,870 2019 −47.3
 Australia 2019 1,376,255[10] 2019 -624,571 2019 −45.5
 Slovakia 2019 106,552 2019 -69,328 2019 −65.5[5]
 Latvia 2019 35,045 2020Q1 -14,861 2019 −44.1[5]
 Hungary 2019 170,407 2019 -76,101 2019 −47.9[5]
 Poland 2019 565,854 2019 -298,193 2019 −50.0[5]
 New Zealand 2019 204,671 2019 -115,079 2019 −56.2
 Croatia 2019 60,702 2019 -30,775 2019 −51.0[5]
 Spain 2019 1,397,870 2019 -1,035,453 2019 −74.0[5]
 Portugal 2019 236,408 2020Q1 -232,561 2019 −100.8[5]
 Cyprus 2019 24,280 2019 -28,598 2019 −116.0[5]
 Greece 2019 214,012 2019 -317,171 2019 −150.6[5]
 Ireland 2019 384,940 2019 -671,100 2019 −172.0[5]
 Serbia 2019 51,523 2019 -45,608 2019 −88.5
 Egypt 2019 302,256 2019 -188,020 2019 −62.2
 Pakistan 2019 284,214 2019 -125,363 2019 −44.1
 Panama 2019 68,536 2019 -65,998 2019 −96.3
 Peru 2019 228,989 2018 -84,332 2018 −37.4
 South Africa 2019 358,839 2019 +28,593 2019 8.0
 Sudan 2019 30,873 2018 -85,180 2018 −248.5
 Tunisia 2019 38,732 2018 -57,117 2018 −143.2
 Uganda 2019 30,666 2019 -18,640 2019 −60.8
 Zambia 2019 23,946 2019 -27,893 2019 −116.5
 United States 2020Q1 21,540,000[11] 2020Q1 -12,057,500 2020Q1 −56.0

See also[edit]

References[edit]

  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. ^ April 2020 "Report for Selected Country Groups and Subjects" Check |url= value (help). International Monetary Fund.
  4. ^ "IMF Data". data.imf.org. Retrieved 26 June 2020.
  5. ^ 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 ab "Net international investment position in % of GDP - annual data; code: tipsii10". Eurostat. Retrieved 6 May 2020.
  6. ^ Central Bank of Iceland [1]
  7. ^ Central Bank of the Republic of China (Taiwan) [2]
  8. ^ "Reserve Bank of India - RBI Bulletin". www.rbi.org.in. Retrieved 2020-06-11.
  9. ^ "Reserve Bank of India - Press Releases". www.rbi.org.in. Retrieved 2019-09-04.
  10. ^ "World Economic Outlook Database, October 2019". IMF.org. International Monetary Fund. Retrieved 16 October 2019.
  11. ^ "Gross Domestic Product, 1st Quarter 2020 (Third Estimate)", Bureau of Economic Analysis.

External links[edit]

Statistics[edit]