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Pair · Q2 2026 · Aug 2025–Jul 2026

Goods, bank claims, portfolio holdings and direct investment between Germany and France, each channel at its own period. Left, Germany to France; right, France to Germany.

Finance to trade

positions ÷ goods, both directions
Finance to trade7.1×positions ÷ goods, both directions
Financial positions, both directions1,364USD bn
Goods, both directions192USD bn

Bank, and positions in both directions over goods trade in both directions; financial centres show very high ratios because they hold securities for others.

Positions at the periods above, goods in the 12-month window. Calculations: datasteg.

The pair through time

2006–Jul 2026

Each channel at its own period on one time axis: goods every month (12-month windows), bank claims every quarter, portfolio holdings every half year, direct investment every year, and below them the finance-to-trade ratio by quarter. Solid lines are reported flows, dashed stretches estimated; the band between a goods line and its other report is the mirror gap where both reports exist. A month with no goods line is one where the pair fell below trade-flow’s 1,500 largest flows.

SinceGermany → FranceFrance → Germanyother report (mirror gap)estimated
Goods · 12-month windows, monthly · USD bnJul 2026 · 107 / 85.40100200Bank claims · quarterly · USD bnQ2 2026 · – / 2900250500Portfolio holdings · half-yearly · USD bnDec 2025 · 585 / 32205001,000Direct investment · annual · USD bn2024 · 103 / 64.20100200Finance to trade · quarterly, positions both ways ÷ goods both waysQ2 2026 · 7.1×0.0×5.0×10×20062008201020122014201620182020202220242026
Sources

The ratio starts in 2009, when the direct-investment survey begins: bank claims at the quarter, portfolio and direct investment at their latest period at or before it, goods in the 12 months to the quarter end. Calculations: datasteg global-network.

Goods Germany → France

Aug 2025–Jul 2026

exports of Germany to France, 12 months

Exports, 12 months107USD bnspliced
–importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Goods France → Germany

Aug 2025–Jul 2026

exports of France to Germany, 12 months

Exports, 12 months85.4USD bnreported
–importer’s report ÷ exporter’s
Sources

Window Aug 2025–Jul 2026. Importer-reported where filed, partner-reported or estimated otherwise (tagged). Mirror ratio: the importer’s report over the exporter’s.

Germany → France

Q2 2026

loans and deposits of banks in Germany on residents of France

Position–Not reported
Flow in the quarter–
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

France → Germany

Q2 2026

loans and deposits of banks in France on residents of Germany

Position290USD bn
Flow in the quarter−22.5USD bnas published by the BIS
Sources

Loans and deposits, all sectors and currencies, residence basis, Q2 2026. Flow as published by the BIS.

Germany → France

Q4 2025

securities issued in France held by investors in Germany

Total585USD bn
Equity168USD bn
Debt securities418USD bn
Sources

Holder to issuer, Q4 2025.

France → Germany

Q4 2025

securities issued in Germany held by investors in France

Total322USD bn
Equity127USD bn
Debt securities195USD bn
Sources

Holder to issuer, Q4 2025.

Germany → France

2024

position of investors in Germany in France

Position103USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.

France → Germany

2024

position of investors in France in Germany

Position64.2USD bn
Reportthe host’s
Sources

Investor to host, 2024; one report per pair, the host’s first.