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.

US Net International Investment Position

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

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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)

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Statistics (mainly around 2021)
Countries 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

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References

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  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. ^ 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.
  4. ^ "U.S. Becomes the World's Largest Debtor Country". Los Angeles Times. Associated Press. 24 June 1986. Retrieved 14 April 2023.
  5. ^ "U.S. International Investment Position, Fourth Quarter and Year 2020". BEA News. Bureau of Economic Analysis. 31 March 2021. Retrieved 14 April 2023.
  6. ^ "U.S. International Investment Position, 4th Quarter and Year 2022" (PDF). BEA News. Bureau of Economic Analysis. 29 March 2023. Retrieved 14 April 2023.
  7. ^ "IMF Data". data.imf.org. Retrieved 30 May 2021.
  8. ^ "Report for Selected Country Groups and Subjects". International Monetary Fund.
  9. ^ "Fitch Upgrades Andorra to 'A-'; Outlook Stable". 8 July 2022. Retrieved 16 June 2023.
  10. ^ a b "GDP (current US$) - Andorra". World Bank. 2021. Retrieved 16 June 2023.
  11. ^ "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.
  12. ^ 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.
  13. ^ Central Bank of Iceland
  14. ^ "India's International Investment Position (IIP), March 2020". Reserve Bank of India. Retrieved 2021-01-30.
  15. ^ Central Bank of the Republic of China (Taiwan)
  16. ^ "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.
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Statistics

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