Germany’s current account posted a surplus of € 23.2 billion in June 2024, up € 4.9 billion on the previous month’s level. The goods account surplus decreased, yet the deficit in invisible current transactions narrowed to a far greater extent.

In the fourth quarter of 2024, German households’ nominal financial assets grew by €136 billion, totalling €9,050 billion as at the end of the year. This is now the fifth increase in succession, continuing the growth streak that has been ongoing since the end of 2023. Households increased their claims by €79 billion and generated valuation gains of €57 billion.

Germany’s current account recorded a surplus of €18.5 billion in May 2024, down €6.6 billion on the previous month’s level. The goods account surplus increased slightly, but the deficit in invisible current transactions widened to a far greater extent.

At the end of 2023, Germany’s net external assets totalled €2,964 billion, thus amounting to just over 70% of Germany’s nominal gross domestic product (GDP). Overall, both assets and liabilities vis-à-vis non-residents rose further in 2023.