At the end of December 2020, Germany’s net external assets stood at €2,077 billion, thus amounting to almost 62% of nominal gross domestic product (GDP). Both German claims and liabilities vis-à-vis non-residents continued to rise considerably in 2020.

Germany’s current account recorded a surplus of €16.9 billion in November 2022, up €11.2 billion on the previous month’s level. This was caused by the larger surplus in the goods account and the shift to a surplus in invisible current transactions, which comprise services as well as primary and secondary income.