Measured by nominal gross domestic product (GDP), Germany’s net external assets grew from just under 20% at the start of 2007 to around 60% by the end of 2017. Enterprises and households recorded the highest increase in assets, with portfolio investment being a key factor. As noted in the April 2018 Monthly Report, "For the first time in over 30 years, residents’ holdings of foreign securities are larger than non-residents’ holdings of securities issued in Germany".

The August 2020 edition of the Monthly Report comments on the economic situation in Germany in summer 2020.

The macro-financial environment has deteriorated substantially over the course of 2022. It has been shaped by subdued growth prospects, high inflation as well as rising interest rates and risk premia.

Did German banks take on a particularly high level of risk during the financial crisis by investing in risky government bonds? A new study examines the behaviour of German banks between 2008 and 2014 and reveals that German banks – especially those that received government support and were comparatively undercapitalised – de-risked. This finding contrasts with the results of similar studies for banks in the euro area periphery countries.

The April 2017 Monthly Report outlines the role of banks, non-banks and the central bank in the money creation process and analyses the impact of demographic change and immigration on the German economy’s potential Output.