Germany's net external position stood at €1,228 billion at the end of 2014, and thus amounted to around 42% of gross domestic product. The German net external asset position rose by €248 billion year-on-year. This increase primarily reflects Germany's current account surplus last year. Unlike in the previous year, the increase occurred against the backdrop of rising gross stocks, as it had done in the years before that.

Renminbi trade in Germany has experienced strong growth: German-issued securities denominated in renminbi (RMB) have more than quadrupled since last spring. The issuance of numerous "Goethe bonds" and other debt securities caused the volume to rise from just under RMB 5 billion to over RMB 21 billion.

The detailed results of the foreign direct investment stock statistics for 2010 to 2013 are now available for the first time based on the new calculation method, which was implemented as part of the harmonisation measures in accordance with the new OECD Benchmark Definition of Foreign Direct Investment (FDI). This has resulted in a significant reduction in FDI stocks.

The German economy was buoyant during the first three months of the year. The Bundesbank economists, writing in the latest Monthly Report, expect economic output to remain on a marked upward trajectory in the second quarter. Another topic they discuss is what needs to be done to strengthen the regulatory framework underpinning European monetary union.

The Bundesbank, along with other important data providers in Germany, has today started publishing indicators in accordance with the Special Data Dissemination Standard Plus (SDDS Plus) of the International Monetary Fund (IMF). This puts Germany among the first nine countries worldwide to adhere to the most comprehensive standard internationally for a uniform approach to economic and financial data provision.

The financial accounts data for Germany announced in this press release are published for the first time pursuant to the provisions of the European System of Accounts 2010 (ESA 2010). This methodological framework replaced the previous ESA 1995 on 1 September 2014, and since then has constituted the binding basis for all relevant statistics in the European Union.

Germany's net external position stood at €1,204 billion at the end of 2013, and thus amounted to almost 43% of gross domestic product. The German net external asset position rose by €251 billion year-on-year. This increase primarily reflects Germany's current account surplus last year. Unlike in previous years, the increase occurred against the backdrop of declining gross amounts outstanding.

Despite the rather sluggish global economic momentum in 2012, German investors stepped up their outward primary foreign direct investment (FDI) during this period considerably by €53 billion to just under €1.2 trillion. This occurred mainly by raising equity stakes, including the reinvestment of earnings. Europe was the main focus of Germany’s outward FDI.

Topics: Germany’s balance of payments in 2013, Shadow banking in the euro area: outline and monetary policy implications, Manufacturing enterprises in Germany: their vulnerability to crises ̶ findings of a risk analysis using year-end data