In today's world, Net international investment position has become a fundamental issue that impacts various aspects of daily life. From its influence on the economy to its role in society, Net international investment position has featured prominently in current conversations and debates. That is why it is necessary to explore in depth the various aspects related to Net international investment position, analyzing its evolution over time, its impact in different areas and its possible implications for the future. In this article, we will delve into the fascinating world of Net international investment position to better understand its importance today and in the future of humanity.
The net international investment position (NIIP) is the difference in 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. 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.
The 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. 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 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. At the end of 2022, it stood at a negative -$16 trillion.
Countries and regions | Date | NIIP
(US$MM) |
Date | GDP
(US$MM) |
Date | NIIP
(%GDP) |
---|---|---|---|---|---|---|
Albania | 2021Q1 | -9,028 | 2021 | 17,138 | 2019 | −52.1 |
Andorra | 2020 | +7,658 | 2020 | 2,890 | 2020 | 265 |
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 |
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 |
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 |
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 |
Democratic Republic of the Congo | 2018 | -19,779 | 2021 | 55,088 | 2018 | −42.0 |
Colombia | 2021Q1 | -171,915 | 2021 | 295,610 | 2019 | −51.7 |
People's Republic of China | 2021Q1 | +2,140,041 | 2021 | 16,642,318 | 2021 | 12.9 |
Croatia | 2020 | -31,558 | 2021 | 65,217 | 2023Q2 | −25.1 |
Cyprus | 2021Q1 | -35,545 | 2021 | 26,479 | 2023Q2 | −99.7 |
Czech Republic | 2021Q1 | -24,507 | 2021 | 276,109 | 2023Q2 | −16.9 |
Denmark | 2021Q1 | +278,307 | 2021 | 392,570 | 2023Q2 | 61.7 |
Egypt | 2021Q1 | -209,599 | 2021 | 394,284 | 2021 | −53.2 |
Estonia | 2021Q1 | -6,872 | 2021 | 35,187 | 2023Q2 | −22.7 |
Finland | 2021Q1 | +24,303 | 2021 | 300,484 | 2023Q2 | 3.1 |
France | 2021Q1 | -889,171 | 2021 | 2,938,271 | 2023Q2 | −29.9 |
Germany | 2021Q1 | +3,055,922 | 2021 | 4,319,286 | 2023Q2 | 68.6 |
Greece | 2021Q1 | -352,272 | 2021 | 209,857 | 2023Q2 | −144.2 |
Hong Kong | 2021Q1 | +2,163,155 | 2021 | 368,633 | 2021 | 586.8 |
Hungary | 2021Q1 | -74,450 | 2021 | 176,543 | 2023Q2 | −50.6 |
Iceland | 2021Q1 | +8,466 | 2021 | 24,155 | 2019(Q1) | 21 |
India | 2021 | -379,300 | 2021 | 3,049,704 | March 2020 | −14 |
Indonesia | 2021Q1 | -268,597 | 2021 | 1,158,783 | 2019 | −30.4 |
Ireland | 2020Q3 | -705,962 | 2021 | 476,663 | 2023Q2 | −108.8 |
Israel | 2021Q1 | +190,555 | 2021 | 446,708 | 2021 | 42.7 |
Italy | 2021Q1 | +40,176 | 2021 | 2,106,287 | 2023Q2 | 5.3 |
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 |
Lithuania | 2021Q1 | -7,821 | 2021 | 62,198 | 2023Q2 | −2.6 |
Luxembourg | 2021Q1 | +40,328 | 2021 | 84,077 | 2021Q2 | 43.4 |
Malaysia | 2021Q1 | +25,589 | 2021 | 387,093 | 2020 | 5.9 |
Malta | 2020Q3 | +9,100 | 2021 | 16,476 | 2023Q2 | 76.4 |
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 |
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 |
Portugal | 2021Q1 | -246,961 | 2021 | 257,391 | 2023Q2 | −76.9 |
Romania | 2021Q1 | -121,438 | 2021 | 289,130 | 2023Q2 | −40.0 |
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 |
Slovenia | 2021Q1 | -4,876 | 2021 | 59,132 | 2023Q2 | 0.7 |
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 |
Sudan | 2018 | -85,180 | 2021 | 35,827 | 2018 | −248.5 |
Sweden | 2021Q1 | +116,427 | 2021 | 625,948 | 2023Q2 | 44.0 |
Switzerland | 2021Q1 | +808,373 | 2021 | 824,734 | 2021 | 98.0 |
Taiwan | 2020 | +1,371,420 | 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 | −79.8 |
Uzbekistan | 2021Q1 | +18,494 | 2021 | 61,203 | 2021 | 30.2 |
Zambia | 2020Q3 | -28,177 | 2021 | 18,955 | 2019 | −116.5 |