The transaction values data are available exclusively as direct FDI data. This means that the data can only show direct holdings of more than 10 % in affiliated enterprises. It is not possible to collect data on direct investment c

Germany’s gross external debt amounted to €6.8 trillion at the end of 2025; relative to gross domestic product (GDP) it remained unchanged in the period under review.

German enterprises constitute net debtors vis-à-vis non-residents: Standing at €1779 billion at the end of February 2026, their liabilities arising from financial operations and trade credits, exceeded their corresponding assets of €1523 billion by €255 billion. Compared with the previous month, this is a change of -€14 billion.

Financial operations with foreign non-banks are of particular importance here, while those with foreign banks play a secondary role. The first group accounts for 70% of claims and 83% of liabilities. At 20% and 16% respectively, the share of trade credits in these total figures remains comparatively small.

Germany’s net international investment position (i.i.p.) rose by €205.6 billion in 2025.

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Explanatory notes

Under the European budgetary surveillance procedure, EU member states are obliged to submit data on general government deficit and debt levels to the European Commission twice a year.

Pursuant to ESA 2010, the fiscal policy activities of the EU institutions at a national level are not included in the government sector account.

These national public finance statistics contain data on the budgetary developments of central, state and local government, the social security funds and general government according to the definition in the German public finance statistics, which is largely based on transactions booked in the budgets.

In der jüngsten Umfrage über den Zugang von Unternehmen im Euroraum zu Finanzmitteln (SAFE) für das erste Quartal 2026 berichteten die Unternehmen von einem Anstieg der Zinssätze für Bankkredite (per saldo 26 % nach 12 % im Vorquartal).

In spite of ongoing strains and additional headwinds as a result of the war in the Middle East, real gross domestic product (GDP) is likely to have increased slightly in the first quarter of 2026 after seasonal adjustment, says the Bundesbank in its April Monthly Report. Nonetheless, industry is suffering from structural barriers to growth, which are undermining its competitive position. Furthermore, the significant rise in fuel prices in March has weighed heavily on households’ purchasing power. The Bundesbank’s experts anticipate that inflation will remain significantly elevated over the coming months as well.

In the fourth quarter of 2025, households’ financial assets increased significantly, closing the year at €9,504 billion. This represents a rise of €148 billion on the previous quarter, with households increasing their assets by €78 billion and generating valuation gains of €70 billion.

Mit dem Bachelor-Studium der Wirtschaftsinformatik bieten wir Ihnen – in Kooperation mit der Dualen Hochschule in Baden-Württemberg (DHBW) – einen attraktiven Berufseinstieg in die Welt der Informationstechnologie.

Information concerning financial sanctions, i. e. concerning restrictions on the free movement of capital and payments.

The average inflation expectations of households in Germany for the next 12 months increased by 0.8 percentage point in March to 3.5 %. They have thus reached their highest level in this study since February 2024 (3.6 %). In response to a qualitative question on inflation rate developments, the share of households expecting inflation rates to rise during this period grew by 28 percentage points on the previous month to 80 %. This is the highest value recorded by this survey since October 2022. Average expectations for the inflation rate in three years’ time rose in March, climbing by 0.3 percentage point to 3.4 %. Expectations for the average over the next five years remained stable at 3.3 %.

Mit dem Bachelor-Studium der Angewandten Informatik bieten wir Dir – in Kooperation mit der Dualen Hochschule in Baden-Württemberg (DHBW) – einen attraktiven Berufseinstieg in die Welt der Informationstechnologie.

Mit dem Bachelor-Studium der Angewandten Informatik bieten wir Dir – in Kooperation mit der Hochschule in Mainz – einen attraktiven Berufseinstieg in die Welt der Informationstechnologie.

The global economy is under pressure: the pandemic, the war in Ukraine and the conflicts in the Middle East have heightened geopolitical tensions. Germany, a large open economy with a gross international investment position of over €14 trillion, is particularly affected by this. In the current edition of the Monthly Report, our experts analyse changes in Germany’s external assets against the backdrop of the current geopolitical situation.

For the processing of cross-border euro credit transfers via the Customer Access Mechanism-IMPay (CAM-IMPay) the following rules apply. “Procedural rules of the Deutsche Bundesbank for the clearing and settlement of cross-border euro retail payments in Customer Access Mechanism-IMPay (CAM-IMPay) (Procedural rules for CAM-IMPay)”

Otmar Issing began his career at the Deutsche Bundesbank in 1990, later becoming the European Central Bank’s first chief economist. Speaking at a colloquium marking Issing’s 90th birthday, Bundesbank President Joachim Nagel highlighted his decisive role in shaping Europe’s monetary policy framework. 

The Deutsche Bundesbank holds art exhibitions at its Money Museum. Not only that: works from its art collection are displayed, on loan, in museums or are shown in joint exhibitions with institutions such as the European Central Bank or the National Bank of Belgium.

Die Finanzsanktionen angesichts der Lage in Belarus dienen der Durchführung von Maßnahmen der Europäischen Union.