NEW YORK, May 26. /TASS/. Japan has lost ground for the second consecutive year in the ranking of the world’s largest creditor nations, falling to third place behind China, Bloomberg reported.
According to Japan’s Finance Ministry, the country’s net foreign assets stood at $3.5 trillion at the end of 2025, while China’s assets at the same point were estimated at $4 trillion. Germany retained first place with net foreign assets totaling $4.24 trillion.
Japan lost the top position in the ranking following the results of 2024. Prior to that, Tokyo had led the list for 34 years. Creditor nations are defined as countries whose foreign assets exceed their foreign liabilities. The higher this indicator, the more a country is considered a source of lending capital rather than a borrower.
As the agency noted, Japan’s leading position by this measure had long ensured the yen’s status as a safe-haven investment currency, though that status is now less certain. Experts surveyed by Bloomberg believe Japan’s net foreign assets remain enormous, but given the changing geopolitical environment, questions remain as to whether this can still be viewed as an advantage.
Germany and China remain leaders by this measure due to positive foreign trade balances, while in Japan growth has been constrained by foreign investment into Japanese assets, the agency noted.