TOKYO – JAPAN lost its global lead in net international assets in 2024, overtaken by Germany for the first time in 34 years, official data showed Tuesday.
The country’s net global assets reached 533.05 trillion yen (about 3.7 trillion U.S. dollars) at the end of 2024, up 12.9 percent from a year earlier and marking a record high for the sixth consecutive year, according to data from the Ministry of Finance.
Net international assets represent the difference between a country’s external assets and its external liabilities, including foreign investments and borrowings.
Japan’s total external assets grew 11.4 percent from the previous year to 1,659.02 trillion yen, driven by a weaker yen that raised the value of foreign currency-denominated holdings.
The yen has depreciated by 11.7 percent from the end of 2023, with the exchange rate at 157.89 yen to the dollar.
External liabilities rose 10.7 percent to 1,125.97 trillion yen, increasing for the sixth consecutive year.
Sectors including insurance, finance, wholesale and retail expanded their overseas investments during the period, the data showed. (1 Japanese yen equals about 0.007 USD).
– Xinhua / CAJ News
