International investment position and external debt

The international investment position (i.i.p.) and external debt are compiled by the Bundesbank on a quarterly basis at the end of each quarter and published with a time lag of one quarter. The dissemination date is the last working day of each quarter. 

Exact publication dates can be found in the statistical release calendar.

Data are disseminated in the following formats:

• Time series databases;
• Press release (annual international investment position);
• Statistical Series International investment position and external debt;
• Tables.

Revision policy

Germany’s i.i.p. data for the previous quarter are normally revised upon publication of data for the current quarter. In exceptional cases, data for earlier periods may also be revised. As with the balance of payments figures, all quarterly figures for the preceding four years are revised in March of each year. In September of each year, the provisional i.i.p. and external debt figures for the end of the previous year – which are calculated by means of extrapolation using balance of payments transactions – are replaced by available stock data. The revised data are published in a press release. Furthermore all quarterly figures for the preceding three years are revised owing to the availability of more detailed data sources on direct investment. In exceptional cases, data for earlier periods may also be revised. In this context, the revised i.i.p. data are reconciled with the balance of payments figures, which may make further revisions necessary.

Since the publication of data for the second quarter of 2014 and the revised figures for previous years in September 2014, the methodology and classifications used for the i.i.p. have been in line with the revised standard of the International Monetary Fund (IMF): IMF (2009), Balance of Payments and International Investment Position Manual, Sixth Edition (BPM6). The reporting obligations of the Bundesbank are also laid down in Regulation (EC) No 184/2005 of 12 January 2005 and Guideline of the European Central Bank 2011/23 of 9 December 2011, as last amended.

Explanatory and notes is available for download.

External position of the Bundesbank and data template on international reserves and foreign currency liquidity

The external position is calculated by the Bundesbank each month and published approximately one to two weeks after the end of the reporting month. The data template on international reserves and foreign currency liquidity is compiled monthly by the Bundesbank as at the end of each reporting period. The main components are compiled within one week after the end of each reporting month.

Exact publication dates can be found in the statistical release calendar.

Data are disseminated in the following formats:

• Time series databases;
• Monthly Report;
• Statistical Series International investment position and external debt;
• Tables.

External positions of enterprises

Enterprises’ external positions are calculated by the Bundesbank on a monthly basis and published five to six weeks after the end of the reporting month. When publishing the provisional data for the current reporting month, the corresponding data for the previous month are generally revised (prior-month revision). These revisions contain late and correction reports from reporting parties on external transactions and other information subsequently made available. Annual revisions for the previous reporting year and the three preceding years are made in the March Monthly Report. The annual revisions take account of late reports. Methodological changes, including those for earlier periods, also tend to be implemented at this point.

Data are disseminated in the following formats:

• Time series database;
• Statistical Series International investment position and external debt;
• Monthly Report, Table XII.9.