Transaction values External Transactions

Net domestic investment abroad

At €75 billion, the expansion of foreign direct investment (FDI) assets slowed significantly in 2023, compared to the previous year (€170 billion).

Europe was able to maintain its role as the most popular target region, with claims rising by €76 billion. A large stake of investment was channelled into the United Kingdom, Luxembourg and France.

In terms of other individual countries, China was the most attractive to German investors. Overall, China is ranked 4th, making Asia as a whole the most popular target region for German direct investment outside Europe.

Claims on America were markedly reduced (€-19 billion), while investment flows to America in the previous year amounted to €29 billion. These movements are due in particular to the decline in receivables from the United States.

Domestic direct investment asset
Domestic direct investment assets, breakdown by groups of countries
Domestic direct investment assets, breakdowns by economic activity of the domestic investors

Domestic direct investment liabilities

Direct investment flows to Germany from abroad totalled €15 billion in 2023. Inflows were thus significantly lower than in the previous year (€58 billion).

This was achieved by providing €24 billion from Europe, slightly more than in the previous year (€22 billion). The United Kingdom, in particular, played an outstanding role here, with inflows of €38 billion. This made the country by far the largest investment target, followed by Belgium and Switzerland.

Outflows from America amounted to €12 billion, primarily due to outflows from the United States.

At €2.4 billion, inflows from Asia were significantly lower than in the previous year (€9.6 billion).

Domestic direct investment liabilities
Domestic direct investment liabilities, breakdowns by groups of countries
Domestic direct investment liabilities