View source for Finance:Net international investment position

{{Short description|Concept in economics}}
__FORCETOC__
[[File:US Net International Investment Position.png|thumb|US Net International Investment Position]]
The '''net international investment position''' ('''NIIP''') is the difference in the external financial assets and liabilities of a country.<ref name="Bivens">{{cite web|url=http://www.epinet.org/content.cfm/Issuebrief203|title=Debt and the dollar: The United States damages future living standards by borrowing itself into a deceptively deep hole|last=Bivens|first=L. Josh|date=December 14, 2004|publisher=Epinet.org|url-status=dead|archive-url=https://web.archive.org/web/20080120130654/http://www.epinet.org/content.cfm/Issuebrief203|archive-date=January 20, 2008|access-date=2009-06-28}}</ref> [[Finance:External debt|External debt]] of a country includes [[Finance:Government debt|government debt]] and private debt. External assets publicly and privately held by a country's legal residents are also taken into account when calculating NIIP.<ref>Ministry of Economic and Finance of Argentina [http://www.mecon.gov.ar/cuentas/internacionales/documentos/international_investment_position_methodology.pdf International Investment Position Methodology] page.1</ref> Commodities and currencies tend to follow a cyclical pattern of significant valuation changes, which is also reflected in NIIP.

The '''International investment position''' ('''IIP''') of a country is a [[Finance:Financial statement|financial statement]] of the value and composition of its external financial assets and liabilities. A positive NIIP value indicates that a nation is a [[Finance:Sovereign default|creditor nation]], while a negative value indicates that it is a ''debtor nation''.

==World==
In 1980, the United States net international-creditor position was bigger than the total net creditor-positions of all the other countries in the world.<ref name=why/> Only six years later, in 1986, when the nation’s international investment position was at a year-end negative $107.4 billion, the U.S. became a net-debtor nation for the first time since 1914, when its nominal debt had reached $2 billion.<ref name=lat>{{cite news |agency=Associated Press |date=24 June 1986 |title=U.S. Becomes the World’s Largest Debtor Country |url=https://www.latimes.com/archives/la-xpm-1986-06-24-mn-21190-story.html |work={{wipe|Los Angeles Times}}|access-date=14 April 2023}}</ref> By 1990, the U.S. was the world's largest debtor<ref name=why>{{cite journal |last1=Aliber|first1=Robert|url=https://link.springer.com/article/10.1007/s11293-020-09695-x |date=31 January 2021 |title=Why did the United States Evolve from the Largest International Creditor in 1980 to the Largest International Debtor in 1990? |journal=Atlantic Economic Journal|volume=48 |pages=405-411|access-date=14 April 2023}}</ref> By end-2020, the country’s net international-investment position was a negative $14 trillion, an amount representing how much more the U.S. owed to the rest of the world than the rest of the world owed to the U.S.<ref name=bea20>{{cite web |url=https://www.bea.gov/news/2021/us-international-investment-position-fourth-quarter-and-year-2020 |title=U.S. International Investment Position, Fourth Quarter and Year 2020 |website=BEA News |publisher=[[Organization:Bureau of Economic Analysis|Bureau of Economic Analysis]] |date=31 March 2021  |access-date=14 April 2023}}</ref> At the end of 2022, it stood at a negative -$16 trillion.<ref name=bea22>{{cite web |url=https://www.bea.gov/sites/default/files/2023-03/intinv422.pdf |title=U.S. International Investment Position, 4th Quarter and Year 2022 |website=BEA News|publisher=[[Organization:Bureau of Economic Analysis|Bureau of Economic Analysis]] |date=29 March 2023 |access-date=14 April 2023}}</ref>

==List of countries and regions by net international investment position (NIIP)==

{| class="wikitable sortable" style="text-align: right"
|-
! Countries and regions !! |Date !! class="sortable" |NIIP<ref>{{Cite web|url=https://data.imf.org/regular.aspx?key=62805745|title=IMF Data|website=data.imf.org|access-date=30 May 2021}}</ref>
(US$MM)
! |Date !! class="sortable"|[[Finance:GDP|GDP]]<ref name="GDP IMF 2020">{{cite web|url=https://www.imf.org/en/Publications/WEO/weo-database/2021/April/weo-report?c=512,914,612,614,311,213,911,314,193,122,912,313,419,513,316,913,124,339,638,514,218,963,616,223,516,918,748,618,624,522,622,156,626,628,228,924,233,632,636,634,238,662,960,423,935,128,611,321,243,248,469,253,642,643,939,734,644,819,172,132,646,648,915,134,652,174,328,258,656,654,336,263,268,532,944,176,534,536,429,433,178,436,136,343,158,439,916,664,826,542,967,443,917,544,941,446,666,668,672,946,137,546,674,676,548,556,678,181,867,682,684,273,868,921,948,943,686,688,518,728,836,558,138,196,278,692,694,962,142,449,564,565,283,853,288,293,566,964,182,359,453,968,922,714,862,135,716,456,722,942,718,724,576,936,961,813,726,199,733,184,524,361,362,364,732,366,144,146,463,528,923,738,578,537,742,866,369,744,186,925,869,746,926,466,112,111,298,927,846,299,582,487,474,754,698,&s=NGDPD,&sy=2018&ey=2026&ssm=0&scsm=1&scc=0&ssd=1&ssc=0&sic=0&sort=country&ds=.&br=1|title=Report for Selected Country Groups and Subjects|publisher=[[Organization:International Monetary Fund|International Monetary Fund]]}}</ref>

(US$MM)

! |Date !! data-sort type="number" | NIIP
(%GDP)
|-
| style="text-align: left" |{{ALB}}|| 2021Q1 || -9,028 || 2021 || 17,138 || 2019 ||{{nts|-52.1}}
|-
| style="text-align: left" |{{AND}}|| 2020 || +7,658<ref name="fitch_and">{{cite web |url=https://www.fitchratings.com/research/sovereigns/fitch-upgrades-andorra-to-a-outlook-stable-08-07-2022 |title=Fitch Upgrades Andorra to 'A-'; Outlook Stable |date=8 July 2022 |access-date=16 June 2023}}</ref><ref name="wb_and">{{cite web |url=https://data.worldbank.org/indicator/NY.GDP.MKTP.CD?locations=AD |title=GDP (current US$) - Andorra |website=World Bank |date=2021  |access-date=16 June 2023}}</ref> || 2020 || 2,890<ref name="wb_and" /> || 2020 ||{{nts|+265}}<ref name="fitch_and" />
|-
| style="text-align: left" |{{ARG}}|| 2021Q1 || +128,627 || 2021 || 418,150 || 2019 ||{{nts|+26.3}}
|-
| style="text-align: left" |{{ARM}}|| 2021Q1 || -10,124 || 2021 || 12,251 || 2019 ||{{nts|-73.1}}
|-
| style="text-align: left" |{{AUS}}|| 2021Q1 || -664,900 || 2021 || 1,617,543 || 2021 ||{{nts|-41.1}}
|-
| style="text-align: left" |{{AUT}}|| 2021Q1 || +58,662 || 2021 || 481,796 || 2023Q2 ||{{nts|+17.6}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{BGD}}|| 2021Q1 || -44,673 || 2021 || 352,908 || 2019 ||{{nts|-13.5}}
|-
| style="text-align: left" |{{BLR}}|| 2021Q1 || -31,417 || 2021 || 60,725 || 2021 ||{{nts|-51.7}}
|-
| style="text-align: left" |{{BEL}}|| 2021Q1 || +263,132 || 2021 || 578,996 || 2023Q2 ||{{nts|+59.1}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{BHU}}|| 2021Q1 || -2,585 || 2021 || 2,480 || 2021 ||{{nts|-104.2}}
|-
| style="text-align: left" |{{BRA}}|| 2021Q1 || -460,181 || 2021 || 1,491,772 || 2019 ||{{nts|-39.6}}
|-
| style="text-align: left" |{{BUL}}|| 2021Q1 || -17,228 || 2021 || 77,782 || 2023Q2 ||{{nts|-13.2}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{KHM}}|| 2021Q1 || -25,658 || 2021 || 27,239 || 2021 ||{{nts|-94.2}}
|-
| style="text-align: left" |{{CAN}}|| 2021Q1 || +1,105,744 || 2021 || 1,883,487 || 2021 ||{{nts|+58.7}}
|-
| style="text-align: left" |{{CHL}}|| 2021Q1 || -28,989 || 2021 || 307,938 || 2021 ||{{nts|-9.4}}
|-
| style="text-align: left" |{{COD}}|| 2018 || -19,779 || 2021 || 55,088 || 2018 ||{{nts|-42.0}}
|-
| style="text-align: left" |{{COL}}|| 2021Q1 || -171,915 || 2021 || 295,610 || 2019 ||{{nts|-51.7}}
|-
| style="text-align: left" |{{PRC}}|| 2021Q1 || +2,140,041 || 2021 || 16,642,318 || 2021 ||{{nts|+12.9}}
|-
| style="text-align: left" |{{CRO}}|| 2020 || -31,558 || 2021 || 65,217 || 2023Q2 ||{{nts|-25.1}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{CYP}}|| 2021Q1 || -35,545 || 2021 || 26,479 || 2023Q2 ||{{nts|-99.7}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{CZE}}|| 2021Q1 || -24,507 || 2021 || 276,109 || 2023Q2 ||{{nts|-16.9}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{DNK}}|| 2021Q1 || +278,307 || 2021 || 392,570 || 2023Q2 ||{{nts|+61.7}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{EGY}}|| 2021Q1 || -209,599 || 2021 || 394,284 || 2021 ||{{nts|-53.2}}
|-
| style="text-align: left" |{{EST}}|| 2021Q1 || -6,872 || 2021 || 35,187 || 2023Q2 ||{{nts|-22.7}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{FIN}}|| 2021Q1 || +24,303 || 2021 || 300,484 || 2023Q2 ||{{nts|+3.1}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{FRA}}|| 2021Q1 || -889,171 || 2021 || 2,938,271 || 2023Q2 ||{{nts|-29.9}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{DEU}}|| 2021Q1 || +3,055,922 || 2021 || 4,319,286 || 2023Q2 ||{{nts|+68.6}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{GRC}}|| 2021Q1 || -352,272 || 2021 || 209,857 || 2023Q2 ||{{nts|-144.2}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{HKG}}|| 2021Q1 || +2,163,155 || 2021 || 368,633 || 2021 ||{{nts|+586.8}}
|-
| style="text-align: left" |{{HUN}}|| 2021Q1 || -74,450 || 2021 || 176,543 || 2023Q2 ||{{nts|-50.6}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{ISL}}|| 2021Q1 || +8,466 || 2021 || 24,155 || 2019(Q1)||{{nts|21}}<ref>[https://www.cb.is/statistics/statistics/2019/06/03/International-investment-position/?stdID=2 Central Bank of Iceland]</ref>
|-
| style="text-align: left" |{{IND}}|| 2021 || -379,300 || 2021 || 3,049,704 || March 2020 ||{{nts|-14}}<ref>{{Cite web|last=|first=|date=|title=India's International Investment Position (IIP), March 2020|url=https://www.rbi.org.in/Scripts/BS_PressReleaseDisplay.aspx?prid=50025|access-date=2021-01-30|website=Reserve Bank of India}}</ref>
|-
| style="text-align: left" |{{flag|Indonesia}}|| 2021Q1 || -268,597 || 2021 || 1,158,783 || 2019 ||{{nts|-30.4}}
|-
| style="text-align: left" |{{IRL}}|| 2020Q3 || -705,962 || 2021 || 476,663 || 2023Q2 ||{{nts|-108.8}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{ISR}}|| 2021Q1 || +190,555 || 2021 || 446,708 || 2021 ||{{nts|+42.7}}
|-
| style="text-align: left" |{{ITA}}|| 2021Q1 || +40,176 || 2021 || 2,106,287 || 2023Q2 ||{{nts|+5.3}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{JPN}}|| 2021Q1 || +3,375,849 || 2021 || 5,378,136 || 2021 ||{{nts|+62.8}}
|-
| style="text-align: left" |{{KAZ}}|| 2021Q1 || -74,204 || 2021 || 187,836 || 2019 ||{{nts|-36.2}}
|-
| style="text-align: left" |{{KUW}}|| 2020 || +89,847 || 2021 || 126,930 || 2019 ||{{nts|+69.7}}
|-
| style="text-align: left" |{{LVA}}|| 2021Q1 || -11,806 || 2021 || 37,720 || 2023Q2 ||{{nts|-26.2}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{LTU}}|| 2021Q1 || -7,821 || 2021 || 62,198 || 2023Q2 ||{{nts|-2.6}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{LUX}}|| 2021Q1 || +40,328 || 2021 || 84,077 || 2021Q2 ||{{nts|+43.4}}<ref name="EurostatNIIPtoGDP">{{cite web|title=Net international investment position - quarterly data, % of GDP|date=1 January 2024|url=https://ec.europa.eu/eurostat/databrowser/view/tipsii40/default/table?lang=en|publisher=Eurostat|access-date=1 January 2024}}</ref>
|-
| style="text-align: left" |{{flag|Malaysia}}|| 2021Q1 || +25,589 || 2021 || 387,093 || 2020 || {{nts|+5.9}}
|-
| style="text-align: left" |{{MLT}}|| 2020Q3 || +9,100 || 2021 || 16,476 || 2023Q2 ||{{nts|+76.4}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{MEX}}|| 2021Q1 || -586,528 || 2021 || 1,192,480 || 2019 ||{{nts|-51.4}}
|-
| style="text-align: left"| {{MNG}}|| 2021Q1 || -37,419 || 2021 || 14,233 || 2021 ||{{nts|-262.9}}
|-
| style="text-align: left"| {{MNE}}|| 2018 || -9,044 || 2021 || 5,651 || 2018 ||{{nts|-178.8}}
|-
| style="text-align: left"| {{MOZ}}|| 2021Q1 || -59,996 || 2021 || 13,957 || 2021 ||{{nts|-429.9}}
|-
| style="text-align: left" |{{NED}}|| 2021Q1 || +959,049 || 2021 || 1,012,598 || 2023Q2 ||{{nts|+68.5}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{NZL}}|| 2021Q1 || -112,488 || 2021 || 243,332 || 2019 ||{{nts|-46.2}}
|-
| style="text-align: left"| {{NIC}}|| 2020 || -14,456 || 2021 || 12,283 || 2019 ||{{nts|-119.9}}
|-
| style="text-align: left" |{{NGA}}|| 2020 || -85,211 || 2021 || 514,049 || 2019 ||{{nts|-16.3}}
|-
| style="text-align: left"| {{NOR}}|| 2021Q1 || +1,175,781 || 2021 || 444,519 || 2021 ||{{nts|+264.5}}
|-
| style="text-align: left" |{{PAK}}|| 2021Q1 || -116,935 || 2021 || 262,799 || 2021 ||{{nts|-44.5}}
|-
| style="text-align: left" |{{PAN}}|| 2020 || -64,857 || 2021 || 59,377 || 2020 ||{{nts|-122.5}}
|-
| style="text-align: left" |{{PER}}|| 2020Q2 || -86,078 || 2021 || 225,918 || 2018 ||{{nts|-37.4}}
|-
| style="text-align: left" |{{PHL}}|| 2021Q1 || -15,322 || 2021 || 402,638 || 2020 ||{{nts|-5.6}}
|-
| style="text-align: left" |{{POL}}|| 2021Q1 || -254,623 || 2021 || 642,121 || 2023Q2 ||{{nts|-32.2}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{PRT}}|| 2021Q1 || -246,961 || 2021 || 257,391 || 2023Q2 ||{{nts|-76.9}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{ROU}}|| 2021Q1 || -121,438 || 2021 || 289,130 || 2023Q2 ||{{nts|-40.0}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{RUS}}|| 2021Q1 || +458,533 || 2021 || 1,710,734 || 2021 ||{{nts|+26.8}}
|-
| style="text-align: left" |{{KSA}}|| 2021Q1 || +587,883 || 2021 || 804,921 || 2021 ||{{nts|+73.0}}
|-
| style="text-align: left" |{{SRB}}|| 2021Q1 || -49,970 || 2021 || 60,435 || 2019 ||{{nts|-88.5}}
|-
| style="text-align: left"| {{SGP}}|| 2021Q1 || +1,035,082 || 2021 || 374,934 || 2021 ||{{nts|+276.1}}
|-
| style="text-align: left" |{{SVK}}|| 2021Q1 || -67,785 || 2021 || 117,664 || 2023Q2 ||{{nts|-57.6}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{SVN}}|| 2021Q1 || -4,876 || 2021 || 59,132 || 2023Q2 ||{{nts|+0.7}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{ZAF}}|| 2021Q1 || +97,342 || 2021 || 329,529 || 2021 ||{{nts|+29.5}}
|-
| style="text-align: left" |{{KOR}}|| 2021Q1 || +477,517 || 2021 || 1,806,707 || 2021 ||{{nts|+26.4}}
|-
| style="text-align: left" |{{ESP}}|| 2021Q1 || -1,096,594 || 2021 || 1,461,552 || 2023Q2 ||{{nts|-56.6}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{SUD}}|| 2018 || -85,180 || 2021 || 35,827 || 2018 ||{{nts|-248.5}}
|-
| style="text-align: left" |{{SWE}}|| 2021Q1 || +116,427 || 2021 || 625,948 || 2023Q2 ||{{nts|+44.0}}<ref name="EurostatNIIPtoGDP" />
|-
| style="text-align: left" |{{CHE}}|| 2021Q1 || +808,373 || 2021 || 824,734 || 2021 ||{{nts|+98.0}}
|-
| style="text-align: left"| {{TWN}}|| 2020 || +1,371,420<ref name=CBC>[https://www.cbc.gov.tw/en/cp-448-134936-c1567-2.html Central Bank of the Republic of China (Taiwan)]</ref> || 2021 || 759,104 || 2020 || {{nts|+205.1}}
|-
| style="text-align: left" |{{THA}}|| 2021Q1 || +36,251 || 2021 || 538,735 || 2019 ||{{nts|+11.0}}
|-
| style="text-align: left" |{{TUN}}|| 2019 || -63,678 || 2021 || 44,265 || 2019 ||{{nts|-162.6}}
|-
| style="text-align: left" |{{TUR}}|| 2021Q2 || -280,624 || 2021 || 794,530 || 2021 ||{{nts|-35.3}}
|-
| style="text-align: left" |{{UGA}}|| 2019 || -18,640 || 2021 || 41,271 || 2019 ||{{nts|-60.8}}
|-
| style="text-align: left" |{{UKR}}|| 2021Q1 || -21,613 || 2021 || 164,593 || 2021 ||{{nts|-13.1}}
|-
| style="text-align: left" |{{GBR}}|| 2021Q1 || -802,202 || 2021 || 3,124,650 || 2021 ||{{nts|-25.7}}
|-
| style="text-align: left" |{{USA}}|| 2022Q4 || -16,112,100 || 2022 || 20,182,500 || 2022Q4<ref name=usabea>{{cite web|title=
Gross Domestic Product (Third Estimate), Corporate Profits, and GDP by Industry, Fourth Quarter and Year 2022|url=https://www.bea.gov/sites/default/files/2023-03/gdp4q22_3rd_0.pdf|work=BEA News|access-date=14 April 2023|publisher=[[Organization:Bureau of Economic Analysis|Bureau of Economic Analysis]]|date=30 March 2023}}</ref>||{{nts|-79.8}}
|-
| style="text-align: left" |{{UZB}}|| 2021Q1 || +18,494 || 2021 || 61,203 || 2021 ||{{nts|+30.2}}
|-
| style="text-align: left" |{{ZAM}}|| 2020Q3 || -28,177 || 2021 || 18,955 || 2019 ||{{nts|-116.5}}
|-
|}

== See also ==
*[[Finance:Net foreign assets|Net foreign assets]]
*[[Finance:List of countries by external debt|List of countries by external debt]]
*List of countries by public debt
*List of countries by net international investment position per capita

==References==
{{Reflist|2}}

== External links ==
*[[Organization:Bureau of Economic Analysis|Bureau of Economic Analysis]] [https://www.bea.gov/scb/pdf/2008/07%20July/0708_iip.pdf Elena L. Nguyen: The International Investment Position of the United States at Yearend 2007. U.S.]
* Bank of Japan [http://www.boj.or.jp/en/research/brp/ron_2010/data/ron1009a.pdf Japan’s International Investment Position at Year-End 2009] {{Webarchive|url=https://web.archive.org/web/20121118235939/http://www.boj.or.jp/en/research/brp/ron_2010/data/ron1009a.pdf |date=2012-11-18 }} (Retrieved on June 30, 2011)
* Deutsche Bundesbank (German Central Bank) [https://www.bundesbank.de/en/statistics/external-sector/international-investment-position-and-external-debt International Investment Position - External Debt Statistics]
*[http://ec.europa.eu/economy_finance/publications/european_economy/2010/pdf/ee-2010-2_en.pdf European Economic Forecast Spring 2010 European Commission working draft] Graph 1.3.2., International investment position since 1980 in major economic units.

=== Statistics ===
* International Monetary Fund (IMF) [http://dsbb.imf.org/Pages/SDDS/InterInvPos.aspx International Investment Position (IIP) Data]
* International Monetary Fund (IMF) [http://www.imf.org/external/pubs/ft/weo/2011/01/weodata/index.aspx World Economic Outlook Database, April 2011]
* UK National Statistics [http://www.statistics.gov.uk/pdfdir/bop1209.pdf Great Britain: International Investment Position, Table K]
* Saint-Petersburg (Russia) statistic [http://st-petersburg.ru/en/Pages/Home.aspx: Economic statistics of St. Petersburg]


[[Category:International macroeconomics]]
[[Category:National accounts]]

{{Sourceattribution|Net international investment position}}