4.974 trillion owed to the Federal government, the Länder, municipalities, businesses and private individuals by the end of 2019 to the appropriate entities abroad. The analysis of the Bundesbank. Accordingly, the so-called foreign debt increased by 2.2 percent and is now higher than ever.
The foreign debt is not to be confused with the German state debt. The latter include only the claims against the public Bodies in Germany, i.e. the Federal government, the länder and the municipalities. It is currently around 2.04 trillion euros, and has been falling for years.
By the Corona-crisis, this may change this year. In addition, public debt may be domestic: Buy yourself about a German government bond, would be counted as the value of the state debt. Foreign liabilities include only the debt in which the creditor actually sits outside of Germany.
that is Why the German foreign debt with the receivables set-off, we have to borrowers from abroad. In the case of such of the liabilities of a German commune could be a French group, the debt of the French state, a German owner of a French government bond over – that would not be comparable.
In the Ranking of the Top 15 creditor countries, this year there are some changes. Here are the countries we most owe money to:
1. Netherlands – 666-billion-Euro
it is Downright diabolical to the debt this year is a mountain in our North-Western neighbours. Since 2008, our increased debt here to 86 percent. The Netherlands has been working since then, of course 4 on 1 of our creditors on.
That the Netherlands are so far the top is no surprise: China is our neighbour, is the country with which we do the most trade, and by the way, one of the few countries with which Germany has a trade deficit.
2. Luxembourg – 582-billion-Euro
A place works has been Luxembourg this year, the small. The Grand Duchy of we owe about six percent more money than in 2018. Since 2008 the debt has increased here with above-average 32 percent.
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Luxembourg joins us on the basis of its size, little volume of trade. For many European insurers and financial institutions, which own a large part of the German government bonds are sitting here.
3. The United Kingdom – 519-billion-Euro
The United Kingdom has lost in the year prior to the Brexit a place in the creditor ranking. In fact, the German debt fell as much as seven percent compared to the previous year.
This is mainly due to the decline in trade between the two countries. The UK to 2017 is the fifth most important trading partner of Germany, the Kingdom is now on 7th place.
4. USA – 354-billion-Euro
The United States remains Germany’s most important creditors outside of Europe. Since 2008, the foreign-grown debt on the other Atlantic side of 40 percent, but is still significantly below those of the leading three countries.
With the USA we have close trading relationships which lead to mutual debt connect with us. In addition, the main financial center of the world, in the, German government bonds be traded sitting here with Wall Street.
5. France – 321-billion-Euro
Despite all the public Display provided for attachment of the debt in the case of our largest decreases, at least in the neighboring country, more and more. Since 2008, the Bad are down here to 26 percent. 2019 there was, however, a boost of 14 percent compared to the previous year. That’s enough for France to defend the fifth place.
6. Ireland – 212-billion-Euro
Ireland has in recent years consistently in the Ranking are selected. In the past year alone, the debt rose to 16 percent, eight times as high as the average.
It should rather be virtual debt: Ireland is the European headquarters of many US corporations such as Amazon, Apple and Facebook. Accordingly, any purchase of a consumer’s generated when one of these companies debt to Ireland.
7. Switzerland – 210-billion-Euro
The sums of money that German culpability in Switzerland, are compared with the previous year by around one per cent has fallen. Therefore, the country also loses a place in the Ranking. What this development is, is not known. A few years ago, the Swiss national Bank was regarded as the largest single creditor of Germany, because it is supposedly the most state bonds. Is not proved this but until today.
The places
Among the Top 15, with Denmark (10th, 113 Billion Euros), Belgium (11., 111 billion euros) and Austria (12., 99 billion euros), three other German neighboring countries. Thus in Poland creates not alone the feed in the list. In view of the fact that the volume of trade with this country is growing, but strong, is likely to be only a temporary recording.
From Europe, Italy (9 from are also., 134 Billion Euros), Spain (13., 59 billion euros) and Sweden (14., 47 billion euros) in the Top 15. The list is completed by two Asian countries, with Japan (8. 173 billion euros), well ahead of China (15., 42 billion Euro). The foreign debt in China today are even lower than ten years ago.
71 percent of German foreign debt are within the EU, 55 percent even within the Eurozone.
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