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The net international investment position (NIIP) is the difference between the external financial assets and liabilities of a country. External debt of a country includes government debt and private debt. External assets publicly and privately held by a country's legal residents are also taken into account when calculating NIIP.Ministry of Economic and Finance of Argentina International Investment Position Methodology page.1 Commodities and currencies tend to follow a cyclical pattern of 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.
In 1980, the United States net international-creditor position was bigger than the total net creditor-positions of all the other countries in the world. Only six years later, in 1986, when the nation’s international investment position was at a year-end negative $107.4 billion, the U.S. became a net-debtor nation for the first time since 1914, when its nominal debt had reached $2 billion. By 1990, the U.S. was the world's largest debtor. By the end of 2020, the country’s net international-investment position was a negative $14 trillion, an amount representing how much more the U.S. owed to the rest of the world than the rest of the world owed to the U.S. At the end of 2022, it stood at a negative $16 trillion. By 2026 it has risen to $26 trillion.
List of countries and regions by net international investment position (NIIP)
+List of countries and regions by net international investment position (NIIP) Countries and regions NIIP(US$ millions) GDPIMF's World Economic Outlook October 2024 "By countries" document Current prices GDP in US Dollars NGDPD https://www.imf.org/en/Publications/WEO/weo-database/2024/October/download-entire-database(US$ millions) NIIP(% of GDP)Date -11,468 26,130 -52.12024 Q3 +50,000 260,134 +19.22024 Q1 +21,416 3,790 +565.12023 -16,623 113,286 -14.72024 Q3 +75,882 604,382 +26.32024 Q3 -12,218 25,251 -73.12024 Q3 -485,066 1,802,006 -41.12026 Q1 +178,243 535,804 +21.72024 Q3 -86,746 451,468 -13.52024 Q2 -19,219 73,129 -51.72024 Q3 +386,037 662,183 +57.32026 Q1 -4,035 3,151 -104.22024 Q1 -11,201 48,172 -23.32024 Q3 -6,872 28,404 -24.22024 Q3 -1,125,816 2,188,419 -39.62024 Q3 -5,343 108,425 -4.72024 Q3 -35,867 47,147 -94.22024 Q3 +1,313,525 2,214,796 +58.72026 Q1 -64,245 328,720 -9.42024 Q3 +4,006,037 19,400,000 +20.92026 Q1 -185,040 417,207 -51.72024 Q3 -20,837 49,613 -42.02020 -40,539 95,149 -42.62024 Q3 -20,901 89,665 -22.32024 Q3 -30,803 34,790 -84.62024 -29,074 342,992 -8.32024 Q3 +135,827 412,293 +56.62024 -75,064 126,238 -59.52024 Q3 -277,136 380,034 -72.92024 Q3 -7,982 43,044 -13.22024 Q3 +2,070,532 15,544,860 +7.02026 Q1 +56,409 306,083 +19.62024 Q3 -993,636 3,174,099 -24.72026 Q1 +4,437,092 5,010,000 +82.12026 Q1 -340,644 252,732 -129.82024 Q3 +2,353,134 368,633 +487.52026 Q1 -74,474 228,806 -33.12024 Q3 +13,322 32,919 +40.5Central Bank of Iceland2024 Q3 -209,950 3,889,130 -9.02026 Q1 -227,633 1,402,590 -19.52026 Q1 -465,463 560,566 -80.12024 Q3 +242,701 528,067 +46.02024 Q3 +404,538 2,376,510 +12.22026 Q1 +3,520,968 4,470,094 +76.72026 Q1 -49,791 292,553 -17.02024 Q3 +120,063 161,822 +74.22024 Q3 -9,861 45,521 -22.32024 Q3 +1,112 82,789 +1.32024 Q3 +34,551 91,210 +37.62024 Q3 -9,482 439,748 +2.22024 Q3 +24,387 24,397 +98.62024 Q3 -636,520 1,848,125 -34.42024 Q3 -42,853 23,669 -181.12024 Q3 -8,482 8,110 -104.62024 Q3 -69,977 22,495 -311.12024 Q1 +630,430 1,218,401 +54.62026 Q1 -119,310 252,236 -47.32024 Q3 -17,964 19,412 -92.52024 Q3 -71,484 199,721 -35.82024 Q3 +2,004,360 503,752 +318.62026 Q1 -128,962 374,595 -34.42024 Q3 -76,574 87,347 -87.72024 Q3 -101,848 283,309 -37.42024 Q3 -59,236 470,062 -12.62024 Q3 -285,180 862,908 -30.92024 Q3 -197,311 303,032 -62.82024 Q3 -138,238 380,561 -40.42024 +1,110,673 1,710,734 +26.82026 Q1 +744,164 1,100,706 +67.62024 Q3 -55,342 82,550 -67.02024 Q3 +1,093,242 530,708 +164.62026 Q1 -73,393 142,617 -51.02024 Q3 +4,660 73,198 +6.32024 Q3 +111,916 403,045 +27.82024 Q3 +753,551 1,869,916 +52.32026 Q1 -841,942 1,731,469 -49.02026 Q1 -85,180 29,793 -248.52018–2021 +331,662 609,039 +52.52024 Q3 +1,213,290 942,265 +114.92026 Q1 +1,349,641 759,104 +205.12026 Q1 +37,455 528,919 +7.12024 Q3 -63,678 44,265 -162.62019–2021 -318,218 1,344,318 -23.72024 Q3 -28,879 55,587 -52.02023–2024 -78,055 184,099 -8.22026 Q1 -1,121,667 3,587,585 -31.32024 Q3 -21,870,000 30,770,000 -71.12025 Q4 +16,326 112,653 +14.52024 Q3 -28,516 25,913 -110.02023–2024
Creditor nations This is a list of the top creditor nations of the world sorted by their net international investment positions (NIIPs) per capita. A creditor nation is a sovereign state that has a positive NIIP. The table uses the latest available data, mostly from websites approved by the International Monetary Fund, and includes Macau and Hong Kong because of their special economic statuses. Population figures may list citizens only or total population, therefore ranking and figures may vary. The 6 Gulf Cooperation Council countries are widely considered to be creditor nations (and perhaps some of the largest ones), but because of Islamic sensitivities about credit and debt, they seldom report their external assets and liabilities. Country / territoryCurrency usedExternal Assets (millions)External Liabilities (millions)NIIP (millions)NIIP (millions USD)PopulationPer Capita (USD)Date and ref.–523% of GDP244% of GDP279.6% of GDP129,175601,000214,934Dec 2015HKD40,681,61130,440,44810,241,1631,309,2687,409,800176,694Oct. 2017SGD4,150,3713,306,317844,054596,8593,902,700152,935Dec. 2015"Statistics Singapore - Latest Data" for Singapore Residents, i.e. citizens and permanent residents In Singapore's case, the non-resident population is about 30% of the total population (which is highly significant, compared to the much lower proportion of non-residents living in the other countries in this list); so the non-resident population (the vast majority of whom are temporary foreign workers), which has no share in Singapore's net external assets, should be excluded.NOK12,994,0596,785,4706,208,589701,9655,213,985134,631Dec. 2015CHF4,260,3013,651,607608,694607,7828,325,20073,005Dec. 2015USD1,634,712580,8071,053,9051,053,90523,492,07444,862Dec. 2015EUR9,470,4819,454,00616,47517,887576,20031,043Dec. 2015EUR7,583,1867,171,832411,354446,62016,980,04926,303Dec. 2015"Balance of payments and international investment position - De Nederlandsche Bank" ("T12.12 Net external assets; Yearly/Quarterly") EUR1,973,0001,719,000254,000275,77511,268,00024,474Dec. 2015MUR15,178,48514,106,0851,072,40029,9341,262,86223,704Dec. 2015SAR3,548,7901,283,1002,265,690604,75824,000,00025,198Dec. 2016JPY948,729,000609,466,000339,263,0002,812,543127,043,00022,139Dec. 2015DKK5,924,0005,090,000834,000121,3525,707,30021,263Dec. 2015"Population at the first day of the quarter - StatBank Denmark - data and statistics" EUR7,903,8006,415,6001,488,2001,615,78381,770,90019,760Dec. 2015EUR223,235218,7484,4874,872429,34411,347Dec. 2015USD418,535283,411135,124135,1258,464,2008,097Sep. 2017USD1,494,7221,173,651321,071321,07152,617,0006,104Jun. 2018USD1,596,563772,192824,371824,371146,500,0005,627Mar. 2023USD6,218,9054,622,4521,596,4531,596,4531,367,820,0001,167Dec. 2015
Debtor nations This is a list of debtor nations of the world sorted by their net international investment positions (NIIPs) per capita. A debtor nation is a sovereign state that has a negative NIIP, i.e. a country that has net external liabilities, not net external assets. The table uses data from respective national government statistical agencies, Eurostat, or IMF. Though many do, a large portion of nations do not report data to the IMF. Parallel reports from government or international agencies may report vastly different data. Country / territoryCurrency usedExternal Assets (millions)External Liabilities (millions)NIIP (millions)NIIP (millions USD)PopulationPer capita (USD)% of GDPDateUSD31,680,10047,792,200–16,112,100–16,112,100332,300,000–48,487–63.3%4Qtr 2022AUD–––1,043,300–762,00024,000,000–31,758–56.8%Sep 2016EUR–––222,323–266,78710,000,000–26,678–126.4%2014EUR–––24,468–29,3611,140,000–25,755–139.8%2014EUR–––196,053–235,26310,500,000–22,406–113.3%2014EUR–––978,000–978,00046,400,000–21,005–81.7%Q2 2018GBP–––431,454–690,32665,000,000–10,620–24.1%2014USD777,6741,434,811–657,136–657,136205,000,000–3,567–31.2%Jun 2015USD214,481627,588–413,106–413,106250,000,000–1,652–47.5%Dec 2014INR920,6001,280,400–359,800–359,8001,410,000,000–255–11.6%Mar 2022USD240,935368,557–27,603–27,603113,000,000–244–7.0%Dec 2021
See also Net foreign assets List of countries by external debt List of countries by government debt
References
External links Bureau of Economic Analysis Elena L. Nguyen: The International Investment Position of the United States at Yearend 2007. U.S. Bank of Japan Japan’s International Investment Position at Year-End 2009 (Retrieved on June 30, 2011) Deutsche Bundesbank (German Central Bank) International Investment Position - External Debt Statistics European Economic Forecast Spring 2010 European Commission working draft Graph 1.3.2., International investment position since 1980 in major economic units.
Statistics International Monetary Fund (IMF) International Investment Position (IIP) Data International Monetary Fund (IMF) World Economic Outlook Database, April 2011 UK National Statistics Great Britain: International Investment Position, Table K Saint-Petersburg (Russia) statistic Economic statistics of St. Petersburg