Having risen in the previous three quarters, households’ financial assets fell by €35 billion in the third quarter of 2023, standing at €7,467 billion at the end of the quarter. 

Germany’s current account recorded a surplus of €30.8 billion in November 2023, up €10.8 billion on the previous month’s level. This was primarily caused by the shift into a surplus in invisible current transactions, which comprise services as well as primary and secondary income. Moreover, the surplus in the goods account increased.

The Distributional Wealth Accounts (DWA) represent a new experimental dataset that combines two data perspectives.

The Deutsche Bundesbank calculates the basic rate of interest in pursuant to statutory requirements and publishes its current level in the Federal

Germany’s current account recorded a surplus of €21.4 billion in October 2023, down €6.6 billion on the previous month’s level.

The macroeconomic environment is being shaped by the interest rate reversal and heightened uncertainty. So far, the German financial system has coped well with the rise in interest rates over the last year, but the effects of this rise have not yet fully materialised. Structural change in the economy is also likely to further increase credit risk.

Die deutsche Leistungsbilanz verzeichnete im September 2023 einen Überschuss von 28,1 Mrd €. Das Ergebnis lag um 5,3 Mrd € über dem Niveau des Vormonats. 

In the second quarter of 2023, households’ financial assets grew by €94 billion, standing at €7,492 billion at the quarter’s end. Following a significant decline in the previous year, this was already the third consecutive quarter-on-quarter increase. Over the second quarter of 2023, households increased their claims by €59 billion and recorded valuation gains of €36 billion.