German enterprises constitute net debtors vis-à-vis non-residents: Standing at €1618 billion at the end of September 2023, their liabilities arising from financial operations and trade credits, exceeded their corresponding assets of €1342 billion by €276 billion. Compared with the previous month, this is a change of - €42 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 73% of claims and 88% of liabilities. At 22% and 17% respectively, the share of trade credits in these total figures remains comparatively small.

The external positions of enterprises encompass non-securitised external claims and liabilities vis-à-vis foreign banks and non-banks arising from financial and trade credits, for example in the form of credit terms granted or advance payments received, at the end of the reporting month. Enterprises include all non-banks, inter alia investment companies.