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. External assets publicly and privately held by a country's legal residents are also taken into account when calculating NIIP.[2] 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.
World
editThe examples and perspective in this article deal primarily with the United States and do not represent a worldwide view of the subject. (August 2023) |
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.[3] 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.[4] By 1990, the U.S. was the world's largest debtor[3] By end-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.[5] At the end of 2022, it stood at a negative $16 trillion.[6]
List of countries and regions by net international investment position (NIIP)
editCountries and regions | Date | NIIP[7] (US$ millions) |
Date | GDP[8] (US $millions) |
Date | NIIP (% GDP) |
---|---|---|---|---|---|---|
Albania | 2021Q1 | -9,028 | 2021 | 17,138 | 2019 | −52.1 |
Andorra | 2020 | +7,658[9][10] | 2020 | 2,890[10] | 2022 | 339.9[11] |
Argentina | 2021Q1 | +128,627 | 2021 | 418,150 | 2019 | 26.3 |
Armenia | 2021Q1 | -10,124 | 2021 | 12,251 | 2019 | −73.1 |
Australia | 2021Q1 | -664,900 | 2021 | 1,617,543 | 2021 | −41.1 |
Austria | 2021Q1 | +58,662 | 2021 | 481,796 | 2023Q2 | 17.6[12] |
Bangladesh | 2021Q1 | -44,673 | 2021 | 352,908 | 2019 | −13.5 |
Belarus | 2021Q1 | -31,417 | 2021 | 60,725 | 2021 | −51.7 |
Belgium | 2021Q1 | +263,132 | 2021 | 578,996 | 2023Q2 | 59.1[12] |
Bhutan | 2021Q1 | -2,585 | 2021 | 2,480 | 2021 | −104.2 |
Brazil | 2021Q1 | -460,181 | 2021 | 1,491,772 | 2019 | −39.6 |
Bulgaria | 2021Q1 | -17,228 | 2021 | 77,782 | 2023Q2 | −13.2[12] |
Cambodia | 2021Q1 | -25,658 | 2021 | 27,239 | 2021 | −94.2 |
Canada | 2021Q1 | +1,105,744 | 2021 | 1,883,487 | 2021 | 58.7 |
Chile | 2021Q1 | -28,989 | 2021 | 307,938 | 2021 | −9.4 |
People's Republic of China | 2021Q1 | +2,140,041 | 2021 | 16,642,318 | 2021 | 12.9 |
Colombia | 2021Q1 | -171,915 | 2021 | 295,610 | 2019 | −51.7 |
Democratic Republic of the Congo | 2018 | -19,779 | 2021 | 55,088 | 2018 | −42.0 |
Croatia | 2020 | -31,558 | 2021 | 65,217 | 2023Q2 | −25.1[12] |
Cyprus | 2021Q1 | -35,545 | 2021 | 26,479 | 2023Q2 | −99.7[12] |
Czech Republic | 2021Q1 | -24,507 | 2021 | 276,109 | 2023Q2 | −16.9[12] |
Denmark | 2021Q1 | +278,307 | 2021 | 392,570 | 2023Q2 | 61.7[12] |
Egypt | 2021Q1 | -209,599 | 2021 | 394,284 | 2021 | −53.2 |
Estonia | 2021Q1 | -6,872 | 2021 | 35,187 | 2023Q2 | −22.7[12] |
Finland | 2021Q1 | +24,303 | 2021 | 300,484 | 2023Q2 | 3.1[12] |
France | 2021Q1 | -889,171 | 2021 | 2,938,271 | 2023Q2 | −29.9[12] |
Germany | 2021Q1 | +3,055,922 | 2021 | 4,319,286 | 2023Q2 | 68.6[12] |
Greece | 2021Q1 | -352,272 | 2021 | 209,857 | 2023Q2 | −144.2[12] |
Hong Kong | 2021Q1 | +2,163,155 | 2021 | 368,633 | 2021 | 586.8 |
Hungary | 2021Q1 | -74,450 | 2021 | 176,543 | 2023Q2 | −50.6[12] |
Iceland | 2021Q1 | +8,466 | 2021 | 24,155 | 2019(Q1) | 21[13] |
India | 2021 | -379,300 | 2021 | 3,049,704 | March 2020 | −14[14] |
Indonesia | 2021Q1 | -268,597 | 2021 | 1,158,783 | 2019 | −30.4 |
Ireland | 2020Q3 | -705,962 | 2021 | 476,663 | 2023Q2 | −108.8[12] |
Israel | 2021Q1 | +190,555 | 2021 | 446,708 | 2021 | 42.7 |
Italy | 2021Q1 | +40,176 | 2021 | 2,106,287 | 2023Q2 | 5.3[12] |
Japan | 2021Q1 | +3,375,849 | 2021 | 5,378,136 | 2021 | 62.8 |
Kazakhstan | 2021Q1 | -74,204 | 2021 | 187,836 | 2019 | −36.2 |
Kuwait | 2020 | +89,847 | 2021 | 126,930 | 2019 | 69.7 |
Latvia | 2021Q1 | -11,806 | 2021 | 37,720 | 2023Q2 | −26.2[12] |
Lithuania | 2021Q1 | -7,821 | 2021 | 62,198 | 2023Q2 | −2.6[12] |
Luxembourg | 2021Q1 | +40,328 | 2021 | 84,077 | 2021Q2 | 43.4[12] |
Malaysia | 2021Q1 | +25,589 | 2021 | 387,093 | 2020 | 5.9 |
Malta | 2020Q3 | +9,100 | 2021 | 16,476 | 2023Q2 | 76.4[12] |
Mexico | 2021Q1 | -586,528 | 2021 | 1,192,480 | 2019 | −51.4 |
Mongolia | 2021Q1 | -37,419 | 2021 | 14,233 | 2021 | −262.9 |
Montenegro | 2018 | -9,044 | 2021 | 5,651 | 2018 | −178.8 |
Mozambique | 2021Q1 | -59,996 | 2021 | 13,957 | 2021 | −429.9 |
Netherlands | 2021Q1 | +959,049 | 2021 | 1,012,598 | 2023Q2 | 68.5[12] |
New Zealand | 2021Q1 | -112,488 | 2021 | 243,332 | 2019 | −46.2 |
Nicaragua | 2020 | -14,456 | 2021 | 12,283 | 2019 | −119.9 |
Nigeria | 2020 | -85,211 | 2021 | 514,049 | 2019 | −16.3 |
Norway | 2021Q1 | +1,175,781 | 2021 | 444,519 | 2021 | 264.5 |
Pakistan | 2021Q1 | -116,935 | 2021 | 262,799 | 2021 | −44.5 |
Panama | 2020 | -64,857 | 2021 | 59,377 | 2020 | −122.5 |
Peru | 2020Q2 | -86,078 | 2021 | 225,918 | 2018 | −37.4 |
Philippines | 2021Q1 | -15,322 | 2021 | 402,638 | 2020 | −5.6 |
Poland | 2021Q1 | -254,623 | 2021 | 642,121 | 2023Q2 | −32.2[12] |
Portugal | 2021Q1 | -246,961 | 2021 | 257,391 | 2023Q2 | −76.9[12] |
Romania | 2021Q1 | -121,438 | 2021 | 289,130 | 2023Q2 | −40.0[12] |
Russia | 2021Q1 | +458,533 | 2021 | 1,710,734 | 2021 | 26.8 |
Saudi Arabia | 2021Q1 | +587,883 | 2021 | 804,921 | 2021 | 73.0 |
Serbia | 2021Q1 | -49,970 | 2021 | 60,435 | 2019 | −88.5 |
Singapore | 2021Q1 | +1,035,082 | 2021 | 374,934 | 2021 | 276.1 |
Slovakia | 2021Q1 | -67,785 | 2021 | 117,664 | 2023Q2 | −57.6[12] |
Slovenia | 2021Q1 | -4,876 | 2021 | 59,132 | 2023Q2 | 0.7[12] |
South Africa | 2021Q1 | +97,342 | 2021 | 329,529 | 2021 | 29.5 |
South Korea | 2021Q1 | +477,517 | 2021 | 1,806,707 | 2021 | 26.4 |
Spain | 2021Q1 | -1,096,594 | 2021 | 1,461,552 | 2023Q2 | −56.6[12] |
Sudan | 2018 | -85,180 | 2021 | 35,827 | 2018 | −248.5 |
Sweden | 2021Q1 | +116,427 | 2021 | 625,948 | 2023Q2 | 44.0[12] |
Switzerland | 2021Q1 | +808,373 | 2021 | 824,734 | 2021 | 98.0 |
Taiwan | 2020 | +1,371,420[15] | 2021 | 759,104 | 2020 | 205.1 |
Thailand | 2021Q1 | +36,251 | 2021 | 538,735 | 2019 | 11.0 |
Tunisia | 2019 | -63,678 | 2021 | 44,265 | 2019 | −162.6 |
Turkey | 2021Q2 | -280,624 | 2021 | 794,530 | 2021 | −35.3 |
Uganda | 2019 | -18,640 | 2021 | 41,271 | 2019 | −60.8 |
Ukraine | 2021Q1 | -21,613 | 2021 | 164,593 | 2021 | −13.1 |
United Kingdom | 2021Q1 | -802,202 | 2021 | 3,124,650 | 2021 | −25.7 |
United States | 2022Q4 | -16,112,100 | 2022 | 20,182,500 | 2022Q4[16] | −79.8 |
Uzbekistan | 2021Q1 | +18,494 | 2021 | 61,203 | 2021 | 30.2 |
Zambia | 2020Q3 | -28,177 | 2021 | 18,955 | 2019 | −116.5 |
See also
editReferences
edit- ^ 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.
- ^ Ministry of Economic and Finance of Argentina International Investment Position Methodology page.1
- ^ a b Aliber, Robert (31 January 2021). "Why did the United States Evolve from the Largest International Creditor in 1980 to the Largest International Debtor in 1990?". Atlantic Economic Journal. 48: 405–411. Retrieved 14 April 2023.
- ^ "U.S. Becomes the World's Largest Debtor Country". Los Angeles Times. Associated Press. 24 June 1986. Retrieved 14 April 2023.
- ^ "U.S. International Investment Position, Fourth Quarter and Year 2020". BEA News. Bureau of Economic Analysis. 31 March 2021. Retrieved 14 April 2023.
- ^ "U.S. International Investment Position, 4th Quarter and Year 2022" (PDF). BEA News. Bureau of Economic Analysis. 29 March 2023. Retrieved 14 April 2023.
- ^ "IMF Data". data.imf.org. Retrieved 30 May 2021.
- ^ "Report for Selected Country Groups and Subjects". International Monetary Fund.
- ^ "Fitch Upgrades Andorra to 'A-'; Outlook Stable". 8 July 2022. Retrieved 16 June 2023.
- ^ a b "GDP (current US$) - Andorra". World Bank. 2021. Retrieved 16 June 2023.
- ^ "2023 ARTICLE IV CONSULTATION—PRESS RELEASE; STAFF REPORT; AND STATEMENT BY THE EXECUTIVE DIRECTOR FOR THE PRINCIPALITY OF ANDORRA". IMF. March 2024. Retrieved 6 October 2024.
- ^ 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 - quarterly data, % of GDP". Eurostat. 1 January 2024. Retrieved 1 January 2024.
- ^ Central Bank of Iceland
- ^ "India's International Investment Position (IIP), March 2020". Reserve Bank of India. Retrieved 2021-01-30.
- ^ Central Bank of the Republic of China (Taiwan)
- ^ "Gross Domestic Product (Third Estimate), Corporate Profits, and GDP by Industry, Fourth Quarter and Year 2022" (PDF). BEA News. Bureau of Economic Analysis. 30 March 2023. Retrieved 14 April 2023.
External links
edit- 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 Archived 2012-11-18 at the Wayback Machine (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
edit- 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