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Investment Position: BEA 01-19 Harlan W. King (202) 606-9571
Direct Investment Detail at Historical Cost:
Foreign Direct Investment in the United States:
Maria Borga (202) 606-9853
Peter J. Fox (202) 606-9832
U.S. Direct Investment Abroad:
Raymond J. Mataloni (202) 606-9867
Mark W. New (202) 606-9875
U.S. Net International Investment Position at Yearend, 2000
At yearend 2000, the negative international investment position of the United States was
substantially larger than at yearend 1999. The negative position reflects the amount by which
the yearend value of foreign investments in the United States exceeded the yearend value
of U.S. investments abroad. According to the U.S. Bureau of Economic Analysis, the net
international investment position of the United States at yearend 2000 was a negative
$1,842.7 billion with direct investment valued at the current cost of replacing plant and
equipment and other tangible assets, and the position was a negative $2,187.4 billion with
direct investment valued at the current stock market value of owners' equity (Table 1).
The negative position valued at the current cost of tangible assets increased $742.9 billion
from $1,099.8 billion (revised) at yearend 1999, and the negative position valued at current
stock-market value increased $662.1 billion from $1,525.3 billion (revised) at yearend 1999.
Both measures increased mainly as a result of large net foreign acquisitions of U.S. assets
and sizable exchange rate depreciation of U.S. assets abroad.
Foreign acquisitions of assets in the United States increased sharply in 2000. Net foreign
purchases of U.S. securities other than U.S. Treasury securities were a record. Foreign
direct investment in the United States was a near record. U.S. liabilities reported by banks
and by nonbanks increased sharply.
U.S. acquisitions of assets abroad also increased sharply in 2000. U.S. claims on
foreigners reported by U.S. banks and nonbanking concerns increased substantially.
U.S. direct investment abroad and net U.S. purchases of foreign securities remained
strong.
Price depreciation of U.S. corporate stocks decreased the value of foreign holdings of
U.S. stocks and also decreased the value of foreign direct investment in the United States
when measured on a market value basis. Foreign stock prices also declined, reducing
the value of U.S. investment in foreign stocks and in U.S. direct investment abroad when
measured on a market value basis.
Net exchange rate depreciation, principally on U.S.-held foreign stocks and on U.S. direct
investment abroad when measured on a market value basis, reflected the depreciation
of the Euro and of the Japanese and the Canadian currencies against the dollar from
yearend 1999 to yearend 2000.
Valuation Methods for Direct Investment
The current-cost method values the U.S. and foreign parents' share of their affiliates'
investment in plant and equipment using the current cost of capital equipment, in land
using general price indexes, and in inventories using estimates of their replacement cost.
The market-value method values the owners' equity component of the direct investment
position using indexes of stock market prices.
The historical-cost method values all assets and liabilities at their book value. This
method is only used to present country and industry detail.
______________________________________________________________________
U.S.-owned assets abroad increased $246.1 billion to $6,167.2 billion with U.S. direct
investment valued at current cost, and they decreased $16.5 billion to $7,189.8 billion with
U.S. direct investment valued at market value due to declines in foreign stock prices.
(Position estimates have been revised. See section on revisions beginning on page 4 of
this release.)
Claims on foreigners reported by U.S. banks increased $176.3 billion to $1,276.7
billion. The increase in claims resulted from strong lending to foreigners, fueled by
financing requirements of numerous large mergers and acquisitions in Europe through
participation in syndicated loans, and by the need to supply funds to the bond market,
particularly in the fourth quarter. Large increases in placements of foreign commercial
paper in the United States also contributed to the increase in claims.
U.S. holdings of foreign securities decreased $197.9 billion to $2,406.5 billion. For
stocks, large negative valuation adjustments--from sharp price depreciation of Japanese,
Canadian, and most European stocks, and from exchange rate depreciation of most
foreign currencies against the value of the U.S. dollar--more than offset large net
purchases. For bonds, U.S. holdings were unchanged as the step-up in net U.S.
purchases was offset by price declines and exchange rate losses on foreign currency-
denominated bonds.
U.S. direct investment abroad at current cost increased $117.2 billion to $1,445.2
billion; at market value, it decreased $145.4 billion to $2,467.8 billion. In 2000, net
financial outflows were $152.4 billion, down slightly from the prior year's record. By
account: Net equity capital outflows declined; reinvested earnings increased sharply; and
net intercompany debt outflows declined. At current cost, large financial outflows more
than accounted for the increase in the position. At market value, large financial outflows
were more than offset by the decline in U.S. owners' equity as a result of the sharp decline
in foreign stock prices from yearend 1999 to yearend 2000, and by depreciation of foreign
currency-denominated assets due to the increase in the value of the U.S. dollar against
most foreign currencies in 2000.
Claims on unaffiliated foreigners reported by U.S. nonbanking concerns increased
$157.5 billion to $825.3 billion. U.S. deposits in foreign banks accelerated sharply.
U.S. official reserve assets decreased $8.0 billion to $128.4 billion, mostly reflecting a
drop in the market value of the U.S. gold stock and a decline in the value of foreign
currency-denominated assets.
Foreign-owned assets in the United States increased $989.0 billion to $8,009.9 billion
with foreign direct investment valued at current cost, and they increased $645.6 billion to
$9,377.2 billion with foreign direct investment valued at market value. (Position estimates
have been revised. See section on revisions beginning on page 4 of this release.)
Liabilities to private foreigners and international financial institutions reported by U.S.
banks increased $72.6 billion to $1,139.8 billion, representing heightened U.S. and
international demand for bank credit. Inflows from overseas were one source of funding
for the acceleration in U.S. commercial and industrial loans in the first half of the year.
U.S. securities dealers' liabilities to international bond funds in the Caribbean also
increased strongly in the first half of the year.
Foreign holdings of U.S. securities other than U.S. Treasury securities increased
$442.0 billion to $2,964.0 billion. Record net foreign purchases of U.S. corporate and
agency bonds were spurred by higher yields on these issues than on U.S. Treasury bonds
and on most other industrial countries' bonds, and by the safety of highly rated U.S.
issuers. U.S. borrowers, including U.S. federally sponsored agencies, took advantage of
the strong foreign demand and continued their strong issuance of new bonds abroad.
Record net foreign purchases of U.S. corporate stocks were partly offset by sizable
declines in U.S. stock prices.
Holdings of U.S. Treasury securities by private foreigners and international financial
institutions decreased $21.0 billion to $639.7 billion. Net foreign sales rose in 2000 as
foreign investors shifted to higher yielding U.S. corporate and agency securities. Partly
offsetting was price appreciation, which reflected the rise in U.S. bond prices through most
of the year, as U.S. long-term interest rates fell.
Foreign direct investment in the United States valued at current cost increased $275.1
billion to $1,369.5 billion; at market value, it decreased $68.4 billion to $2,736.9 billion. In
2000, net financial inflows of $287.7 billion were lower than the prior year's record. By
account: Net equity capital inflows slowed; reinvested earnings increased slightly; and net
intercompany debt inflows slowed. At current cost, large net financial inflows more than
accounted for the increase. At market value, large net financial inflows were more than
offset by substantial price depreciation in owners' equity, resulting from the decline in U.S.
stock prices.
Liabilities to unaffiliated foreigners reported by U.S. nonbanking concerns increased
$167.2 billion to $722.7 billion, as U.S. corporate borrowing from foreign banks and from
U.S. offshore finance affiliates increased sharply.
U.S. currency held by foreigners increased $1.1 billion to $251.8 billion.
Foreign official assets in the United States increased $52.1 billion to $922.4 billion; net
financial inflows were augmented by price appreciation.
Detailed estimates of the U.S. direct investment abroad position and of the foreign
direct investment in the United States position are presented in tables 2 and 3. These
detailed estimates by country and by industry are available only on an historical-cost
basis.
* * *
Revisions
Data are revised for 1996-99. The largest revision occurred in 1999.
The negative net international investment position for yearend 1999 has been revised
from $1,082.5 billion to $1,099.8 billion with direct investment at current cost, and from
$1,473.7 billion to $1,525.3 billion with direct investment at market value. The major
sources of these revisions are listed below.
* Estimates of the foreign direct investment position in the United States for 1997
forward on both the current-cost basis and the market-value basis have been revised to
incorporate data collected in BEA's 1997 benchmark survey of foreign direct investment in
the United States and revised quarterly survey results for subsequent years. (These
improvements also affected financial flows in BEA's revised international transactions
accounts, released on June 21, 2001.)
* Foreign holdings of U.S. securities other than U.S. Treasury securities are revised for
1999 as a result of a more complete accounting for large U.S. acquisitions of foreign
companies, especially those acquisitions completed by exchanges of shares. (These
improvements also affected financial flows in BEA's revised international transactions
accounts, released on June 21, 2001.)
* U.S. nonbank liabilities are revised for 1996-2000 as a result of the substitution of BIS
data on nonbank liabilities to foreign banks for U.S.-source data. (These improvements
also affected financial flows in BEA's revised international transactions accounts, released
on June 21, 2001.)
In addition to the above improvements, all estimates have been revised as a result of
newly available or revised quarterly and annual survey results and other data. Most
revisions attributable to updated source data are for 1997-99.
* * *
BEA's major national, regional, international, and industry estimates, the Survey of
Current Business, and BEA news releases are available on BEA's web site:
<www.bea.doc.gov>
STAT-USA maintains an Internet site that contains BEA estimates, the Survey of
Current Business, and BEA new releases. To subscribe to STAT-USA's World Wide Web
system, go to <www.stat-usa.gov>, or call (202) 482-1986. Subscriptions for single-user
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for 1 year.
Most of BEA's estimates and analyses appear in the Survey of Current Business,
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Office. Internet: <bookstore.gpo.gov>; phone: 202-512-1800; fax: 202-512-2250; mail:
Stop SSOP, Washington, D.C. 20402-0001.
Table 1
International Investment Position of the United States at Yearend, 1999 and 2000
[Millions of dollars]
Changes in 2000 (decrease (-))
Line Type of investment Position Attributable to : Position
1999/r/ Valuation adjustments 2000/p/
Exchange Total
Financial Price rate Other
flows changes changes/1/changes/2/ (a+b+c+d)
(a) (b) (c) (d)
Net international investment position of the United States:
1 With direct investment positions at current cost (line 3 less line 16)...... -1,099,786 -443,266 -189,189 -161,397 50,975 -742,877 -1,842,663
2 With direct investment positions at market value (line 4 less line 17)...... -1,525,347 -443,266 -42,232 -233,846 57,247 -662,097 -2,187,444
U.S.-owned assets abroad:
3 With direct investment positions at current cost (lines 5+6+7)........... 5,921,099 580,952 -162,350 -194,351 21,862 246,113 6,167,212
4 With direct investment positions at market value (lines 5+6+8)........... 7,206,320 580,952 -364,486 -264,903 31,909 -16,528 7,189,792
5 U.S. official reserve assets................................................. 136,418 290 -4,134 -4,157 -17 -8,018 128,400
6 U.S. Government assets, other than official reserve assets................... 84,227 944 ........ ........ ........ 944 85,171
U.S. private assets:
7 With direct investment at current cost (lines 9+11+14+15)............ 5,700,454 579,718 -158,216 -190,194 21,879 253,187 5,953,641
8 With direct investment at market value (lines 10+11+14+15)........... 6,985,675 579,718 -360,352 -260,746 31,926 -9,454 6,976,221
Direct investment abroad:
9 At current cost....................................................... 1,327,954 152,437 6,128 -21,975 -19,367 117,223 1,445,177
10 At market value....................................................... 2,613,175 152,437 -196,008 -92,527 -9,320 -145,418 2,467,757
11 Foreign securities....................................................... 2,604,383 124,935 -164,344 -158,470 ........ -197,879 2,406,504
12 Bonds................................................................ 577,745 25,200 -10,672 -14,579 ........ -51 577,694
13 Corporate stocks..................................................... 2,026,638 99,735 -153,672 -143,891 ........ -197,828 1,828,810
14 U.S. claims on unaffiliated foreigners reported by U.S.
nonbanking concerns.................................................. 667,732 163,846 ........ -6,327 ........ 157,519 825,251
15 U.S. claims reported by U.S. banks, not included elsewhere............... 1,100,385 138,500 ........ -3,422 41,246 176,324 1,276,709
Foreign-owned assets in the United States:
16 With direct investment at current cost (lines 18+19).................... 7,020,885 1,024,218 26,839 -32,954 -29,113 988,990 8,009,875
17 With direct investment at market value (lines 18+20).................... 8,731,667 1,024,218 -322,254 -31,057 -25,338 645,569 9,377,236
18 Foreign official assets in the United States................................ 870,364 37,619 14,446 ........ ........ 52,065 922,429
Other foreign assets:
19 With direct investment at current cost
(lines 21+23+24+27+28+29)......................................... 6,150,521 986,599 12,393 -32,954 -29,113 936,925 7,087,446
20 With direct investment at market value
(lines 22+23+24+27+28+29)........................................ 7,861,303 986,599 -336,700 -31,057 -25,338 593,504 8,454,807
Direct investment in the United States:
21 At current cost...................................................... 1,094,439 287,655 102 -1,897 -10,794 275,066 1,369,505
22 At market value...................................................... 2,805,221 287,655 -348,991 ........ -7,019 -68,355 2,736,866
23 U.S. Treasury securities................................................ 660,693 -52,792 31,783 ........ ........ -21,009 639,684
24 U.S. securities other than U.S. Treasury securities..................... 2,522,009 485,644 -19,492 -24,188 ........ 441,964 2,963,973
25 Corporate and other bonds........................................... 1,061,924 292,904 43,619 -24,188 ........ 312,335 1,374,259
26 Corporate stocks.................................................... 1,460,085 192,740 -63,111 ........ ........ 129,629 1,589,714
27 U.S. currency........................................................... 250,657 1,129 ........ ........ ........ 1,129 251,786
28 U.S. liabillities to unaffiliated foreigners reported by U.S.
nonbanking concerns................................................. 555,566 177,010 ........ -1,519 -8,319 167,172 722,738
29 U.S. liabilities reported by U.S. banks, not included elsewhere......... 1,067,157 87,953 ........ -5,350 -10,000 72,603 1,139,760
r Revised.
p Preliminary.
1. Represents gains or losses on foreign currency-denominated assets due to their revaluation at current exchange rates.
2. Includes changes in coverage, statistical discrepancies, and other adjustments to the value of assets.
Source: U.S. Department of Commerce, Bureau of Economic Analysis
Table 2--U.S. Direct Investment Position Abroad on a Historical-Cost Basis at Yearend
[Millions of dollars]
1999r 2000p
All Petro- Manu- Whole- Depos- Finance Serv- Other All Petro- Manu- Whole- Depos- Finance Serv- Other
industries leum facturing sale itory (except ices indus- industries leum facturing sale itory (except ices indus-
trade insti- depos- tries trade insti- depos- tries
tutions itory tutions itory
insti- insti-
tutions), tutions),
insurance insurance
and real and real
estate estate
All countries .......................................... 1,130,789 97,864 312,072 80,254 38,382 443,263 70,398 88,556 1,244,654 105,486 343,992 88,090 37,155 497,267 79,857 92,809
Canada ...................................................... 111,051 15,575 42,808 8,866 1,983 27,059 6,450 8,311 126,421 18,018 50,425 9,834 1,999 29,125 8,297 8,724
Europe ...................................................... 588,341 33,884 161,748 46,715 22,532 241,634 44,067 37,762 648,731 32,566 177,445 50,869 23,941 272,340 49,504 42,066
Austria ................................................. 3,711 (D) 1,120 605 (D) 133 165 -58 3,676 (D) 1,114 592 1,601 126 164 (D)
Belgium ................................................. 17,347 90 7,560 2,943 365 3,794 2,687 -93 16,409 -164 7,346 1,828 543 4,024 2,996 -163
Denmark ................................................. 4,123 1,108 1,334 (D) (*) (D) 130 190 5,618 1,099 2,340 619 (*) 1,278 111 171
Finland ................................................. 1,290 (D) 483 370 20 (D) 58 127 1,279 81 672 328 20 -3 68 114
France .................................................. 40,009 (D) 17,519 2,517 1,649 10,597 5,171 (D) 39,087 1,010 16,515 2,558 1,823 9,964 5,537 1,680
Germany ................................................. 50,892 2,729 25,301 3,298 1,046 13,371 2,470 2,677 53,610 2,946 26,801 3,215 699 14,678 2,729 2,542
Greece .................................................. 604 (D) 61 88 138 147 33 (D) 672 78 29 178 117 152 40 77
Ireland ................................................. 26,084 (D) 8,704 278 -7 8,621 7,807 (D) 33,369 667 9,874 620 -50 12,668 9,277 313
Italy ................................................... 17,914 (D) 9,329 2,596 212 1,657 2,403 (D) 23,622 (D) 14,498 2,637 270 1,929 2,236 (D)
Luxembourg .............................................. 16,484 (D) 2,449 (D) 228 13,012 40 18 19,470 49 2,297 1,111 310 15,649 35 19
Netherlands ............................................. 105,571 3,355 21,592 8,478 (D) 67,182 3,684 (D) 115,506 3,149 24,228 10,486 (D) 71,373 4,602 (D)
Norway .................................................. 6,181 4,039 860 282 (D) 519 253 (D) 6,303 4,192 810 325 (D) 609 253 (D)
Portugal ................................................ 1,463 (D) 461 337 (D) 218 85 94 1,784 (D) 479 278 128 214 491 (D)
Spain ................................................... 13,244 161 8,383 1,346 2,003 537 489 325 14,561 149 8,603 1,608 2,096 1,176 559 370
Sweden .................................................. 10,200 83 2,077 397 (D) 5,868 1,068 (D) 11,371 93 2,860 354 (D) 6,022 1,141 (D)
Switzerland ............................................. 48,849 269 4,913 13,888 2,812 24,766 1,638 564 54,873 152 4,698 15,577 2,974 28,384 1,687 1,402
Turkey .................................................. 1,235 59 633 55 273 7 64 143 1,378 46 746 30 351 2 53 150
United Kingdom .......................................... 212,007 17,069 46,913 7,409 9,726 87,023 15,418 28,448 233,384 15,749 50,994 7,953 9,930 100,273 17,258 31,227
Other ................................................... 11,135 1,921 2,055 514 (D) 3,313 404 (D) 12,760 2,126 2,543 571 (D) 3,822 269 (D)
Latin America and Other Western Hemisphere .................. 220,705 8,963 48,615 7,530 2,148 125,128 6,258 22,063 239,388 9,084 50,696 9,076 -1,639 140,655 7,301 24,215
South America ........................................... 74,743 6,303 27,335 2,304 5,383 15,201 2,365 15,852 79,354 6,317 27,245 2,063 5,871 17,993 2,768 17,096
Argentina ........................................... 14,175 603 3,618 448 2,090 4,698 834 1,885 14,489 654 3,623 389 2,319 5,633 698 1,172
Brazil .............................................. 34,276 1,416 19,001 861 1,939 5,304 691 5,064 35,560 1,102 18,940 792 2,139 6,240 925 5,424
Chile ............................................... 10,105 33 1,292 370 654 3,384 194 4,177 10,846 73 1,363 374 700 3,557 210 4,569
Colombia ............................................ 3,854 687 1,302 144 (D) 922 46 (D) 4,423 772 1,373 96 (D) 758 48 (D)
Ecuador ............................................. 1,035 513 270 68 (D) 122 4 (D) 838 461 175 53 (D) 124 5 (D)
Peru ................................................ 2,705 369 199 80 133 302 49 1,572 3,317 358 196 56 (D) 841 55 (D)
Venezuela ........................................... 7,342 2,588 1,470 228 50 354 524 2,129 8,423 2,803 1,366 176 51 727 811 2,489
Other ............................................... 1,251 94 183 106 302 114 24 428 1,456 93 210 129 309 112 17 587
Central America ......................................... 68,456 1,322 20,009 2,647 1,280 37,921 1,578 3,700 74,754 1,264 21,874 3,112 1,238 41,506 1,393 4,366
Costa Rica .......................................... 1,539 30 (D) (D) 0 2 -2 (*) 1,983 31 764 1,147 0 2 -2 41
Guatemala ........................................... 578 180 214 (D) (D) (D) 4 28 904 474 230 34 (D) 123 3 (D)
Honduras ............................................ 126 (D) 212 2 5 34 0 (D) 115 (D) 192 3 (D) 9 0 -119
Mexico .............................................. 32,262 213 18,627 1,314 1,120 6,047 1,280 3,661 35,414 163 20,379 1,450 1,189 6,732 1,200 4,301
Panama .............................................. 33,027 622 (D) 439 131 31,457 287 (D) 35,407 273 152 446 16 34,388 182 -50
Other ............................................... 923 (D) 156 (D) (D) (D) 9 (D) 931 (D) 157 33 (D) 252 10 (D)
Other Western Hemisphere ................................ 77,506 1,337 1,271 2,579 -4,515 72,006 2,315 2,512 85,280 1,502 1,577 3,901 -8,748 81,156 3,139 2,753
Bahamas ............................................. 702 111 77 75 -2,423 2,736 72 55 668 631 (D) (D) -3,783 3,507 32 55
Barbados ............................................ 1,065 (D) 22 271 (D) 291 324 (D) 1,227 (D) 65 331 24 312 331 (D)
Bermuda ............................................. 47,119 (D) (D) 1,827 0 43,852 1,625 (D) 54,114 (D) (D) 2,682 0 49,316 2,380 (D)
Dominican Republic .................................. 956 156 471 29 72 (*) 20 208 1,126 (D) 590 49 90 (*) 19 (D)
Jamaica ............................................. 2,311 (D) 261 83 (D) 11 46 1,844 2,596 (D) 239 259 (D) 14 53 1,969
Netherlands Antilles ................................ 3,652 (D) 27 59 0 3,523 (D) (*) 3,725 (*) (D) 62 0 3,641 (D) (*)
Trinidad and Tobago ................................. 1,329 1,025 49 21 (D) (D) 1 183 1,331 1,063 62 (D) (D) (D) 1 118
United Kingdom Islands, Caribbean ................... 19,767 304 130 211 -2,276 21,097 167 135 20,165 322 146 322 -5,174 23,970 261 317
Other ............................................... 605 83 (D) 3 (D) (D) (D) (D) 329 -74 (D) (*) (D) (D) (D) (D)
Africa ...................................................... 14,884 9,456 2,028 210 384 1,227 208 1,371 15,813 10,085 2,226 268 413 1,425 98 1,298
Egypt ................................................... 2,190 1,527 548 48 (D) 0 -139 (D) 2,735 2,053 581 (D) (D) 0 -138 4
Nigeria ................................................. 1,462 1,240 59 7 (D) (D) 0 5 1,283 881 58 (D) (D) 274 0 6
South Africa ............................................ 2,905 11 901 119 (D) 606 244 (D) 2,826 6 947 166 (D) (D) 118 (D)
Other ................................................... 8,326 6,678 520 35 120 (D) 103 (D) 8,969 7,145 640 (D) 140 (D) 118 (D)
Middle East ................................................. 10,519 2,590 2,219 305 701 1,998 773 1,933 11,851 2,864 2,490 299 863 2,283 1,018 2,033
Israel .................................................. 3,051 4 2,068 109 0 303 383 183 3,426 4 2,326 74 0 236 588 197
Saudi Arabia ............................................ 4,426 238 143 98 (D) 1,342 283 (D) 4,784 218 132 109 (D) 1,527 297 (D)
United Arab Emirates .................................... 557 235 87 98 (D) (D) 66 -37 573 211 (D) 115 (D) -1 71 (D)
Other ................................................... 2,486 2,113 -79 1 -39 (D) 41 (D) 3,069 2,431 (D) (*) -1 520 62 (D)
Asia and Pacific ............................................ 181,882 24,476 54,654 16,629 10,634 46,217 12,642 16,630 199,599 29,736 60,710 17,744 11,578 51,439 13,638 14,755
Australia ............................................... 34,776 3,880 8,333 2,274 2,681 9,151 2,224 6,234 35,324 6,992 7,964 2,512 2,627 8,145 2,242 4,843
China ................................................... 8,058 1,347 4,887 222 70 622 229 680 9,577 1,846 5,663 362 78 740 295 594
Hong Kong ............................................... 20,092 160 2,876 4,870 1,971 6,234 636 3,344 23,308 202 3,283 5,617 2,405 7,828 546 3,427
India ................................................... 1,402 -386 853 90 (D) 268 70 (D) 1,258 -430 790 124 291 179 68 236
Indonesia ............................................... 10,495 7,227 220 11 287 330 33 2,387 11,605 8,440 273 (D) 249 385 (D) 2,219
Japan ................................................... 49,438 (D) 12,638 5,322 727 17,143 7,535 (D) 55,606 (D) 15,173 4,689 733 20,685 8,646 (D)
Korea, Republic of ...................................... 8,559 (D) 3,492 852 1,908 60 537 (D) 9,432 (D) 3,954 858 2,104 91 510 (D)
Malaysia ................................................ 5,820 1,159 3,598 131 448 406 125 -46 5,995 1,252 3,411 271 (D) 470 150 (D)
New Zealand ............................................. 5,433 72 792 237 (D) 3,303 30 (D) 5,340 63 711 232 (D) 3,291 (D) (D)
Philippines ............................................. 3,136 12 1,301 194 171 1,095 65 297 2,910 1 1,207 232 201 975 -15 308
Singapore ............................................... 20,117 1,742 9,950 1,422 522 5,429 951 101 23,245 1,718 11,834 1,590 696 6,217 908 282
Taiwan .................................................. 6,513 60 3,072 651 691 1,741 113 185 7,737 60 3,692 871 703 1,972 154 285
Thailand ................................................ 6,809 2,497 2,661 323 525 371 60 373 7,124 2,666 2,767 318 650 421 70 232
Other ................................................... 1,235 698 -19 31 (D) 62 34 (D) 1,138 574 -12 (D) (D) 39 28 (D)
International 1 ............................................. 3,406 2,921 .... .... .... .... .... 485 2,851 3,134 .... .... .... .... .... -283
p Preliminary.
r Revised.
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
1. "International" consists of affiliates that have operations spanning more than one country and that are engaged in petroleum shipping, other water transportation, or offshore oil and gas drilling.
Source: U.S. Bureau of Economic Analysis
Table 3.--Foreign Direct Investment Position in the United States on a Historical-Cost Basis at Yearend
[Millions of dollars]
1999r 2000p
All Petro- Manufac- Trade Deposi- Finance, Insur- Real Other All Petro- Manufac- Trade Deposi- Finance, Insur- Real Other
indus- leum turing tory except ance estate indus- indus- leum turing tory except ance estate indus-
tries insti- deposi- tries tries insti- deposi- tries
tutions tory tutions tory
insti- insti-
tutions tutions
All countries ................................. 965,632 51,890 399,525 119,501 61,539 62,450 85,290 40,248 145,189 1,238,627 92,856 496,578 141,702 68,619 88,082 106,403 42,300 202,089
Canada ........................................... 76,526 2,926 34,116 6,171 3,160 9,433 6,899 5,886 7,935 100,822 4,508 50,117 4,564 3,191 11,443 8,229 5,887 12,883
Europe ........................................... 670,030 46,792 310,205 60,600 44,041 30,758 68,694 14,433 94,507 890,611 82,563 384,368 76,874 50,686 52,488 87,376 15,578 140,678
Austria ........................................ 3,203 (D) 866 (D) (D) (D) 0 34 17 3,172 0 943 (D) (D) (D) (D) 36 (D)
Belgium ........................................ 10,037 6 3,783 (D) (D) 2,422 (*) 38 2,719 14,186 4 6,688 (D) (D) 2,417 -1 38 3,094
Denmark ........................................ 5,226 -2 1,322 3,502 (D) (D) -4 (D) 297 5,905 (*) 3,675 1,666 (D) (D) -4 (D) 457
Finland ........................................ 4,967 (D) 2,122 2,483 (D) (D) (*) 12 (D) 5,473 (D) 2,191 (D) (D) 33 (*) (D) (D)
France ......................................... 82,276 (D) 54,781 2,573 3,338 9,854 4,552 (D) 6,171 119,069 (D) 66,056 3,282 2,955 (D) 13,256 (D) (D)
Germany ........................................ 111,706 160 56,354 12,892 14,085 5,482 10,565 3,842 8,327 122,846 232 59,824 12,088 19,124 4,693 13,709 4,386 8,792
Ireland ........................................ 15,621 596 4,476 (D) (D) 443 4,740 113 1,491 23,031 (D) 6,333 (D) (D) (D) (D) (D) 1,393
Italy .......................................... 4,709 (D) 957 1,665 1,175 (D) 290 78 202 6,409 (D) 1,064 2,095 1,171 (D) (D) 80 (D)
Liechtenstein .................................. 287 0 14 89 0 (D) 0 68 (D) 276 0 -10 111 0 (D) 0 67 (D)
Luxembourg ..................................... 57,047 (D) 44,751 (D) 0 2,888 (D) 107 7,236 83,304 (D) 63,685 1,803 0 2,371 (D) 102 (D)
Netherlands .................................... 125,775 10,733 42,988 (D) 14,593 3,609 24,257 5,991 (D) 152,432 13,195 50,840 21,752 12,340 6,313 28,125 5,682 14,185
Norway ......................................... 3,089 255 1,805 -313 (D) (D) 1 32 1,206 2,441 (D) 2,079 -437 (D) (D) (*) 31 (D)
Spain .......................................... 2,746 -6 982 191 1,307 (D) 158 (D) 95 8,860 -1 1,172 (D) 1,371 3 280 50 (D)
Sweden ......................................... 20,843 (D) 10,992 369 -21 (D) (D) 959 (D) 27,389 (D) 12,711 (D) -135 (D) (D) (D) 8,006
Switzerland .................................... 53,706 736 25,782 3,067 (D) 2,011 14,758 429 (D) 81,698 1,107 36,594 4,198 (D) (D) 15,370 481 (D)
United Kingdom ................................. 166,900 32,418 57,333 10,002 3,669 3,760 7,959 2,058 49,699 229,762 66,086 67,881 12,032 6,818 7,758 9,261 2,583 57,344
Other .......................................... 1,890 8 896 (D) 254 9 (D) 457 -9 4,357 713 2,643 (D) 361 (D) 15 674 (D)
Latin America and Other Western
Hemisphere ..................................... 38,104 1,313 3,021 3,743 2,173 2,098 8,383 5,168 12,205 42,700 1,563 3,891 5,086 2,597 1,794 9,440 5,598 12,730
South and Central America ...................... 8,365 -394 165 598 1,616 598 (D) 201 (D) 8,671 504 -2,392 (D) 2,025 608 (D) 195 791
Brazil ....................................... 740 (D) -101 63 413 (D) (D) -7 2 846 (D) -290 80 424 (D) (D) 13 -35
Mexico ....................................... 1,730 -8 328 (D) 198 (D) 2 18 550 2,471 -5 258 (D) 267 (D) (*) 14 561
Panama ....................................... 5,475 14 114 -4 49 223 (D) 195 (D) 4,004 24 (D) -32 57 (D) (D) 174 (D)
Venezuela .................................... -62 (D) -19 4 302 -1 7 -16 (D) 826 (D) -8 2 582 -1 3 -21 (D)
Other ........................................ 483 -11 -157 (D) 654 (D) 5 12 (D) 525 -6 (D) (D) 696 45 -1 15 -6
Other Western Hemisphere ....................... 29,739 1,707 2,855 3,145 557 1,500 (D) 4,967 (D) 34,029 1,059 6,283 (D) 572 1,187 (D) 5,403 11,939
Bahamas ...................................... 1,581 (D) 135 (D) (D) (D) 0 416 168 1,385 (D) 294 (D) (D) (D) 0 378 -83
Bermuda ...................................... 12,590 155 151 (D) 21 -92 1,781 617 (D) 14,942 196 1,142 (D) (D) (D) 1,954 387 11,082
Netherlands Antilles ......................... 3,153 160 1,089 415 98 22 -2 1,088 282 3,515 (D) 793 (D) 161 22 -2 1,224 379
United Kingdom Islands, Caribbean ............ 11,082 979 1,472 1,838 419 (D) (D) 2,746 (D) 12,513 281 3,997 1,967 240 1,329 (D) 3,313 (D)
Other ........................................ 1,334 (D) 8 (D) (D) 20 (D) 101 96 1,674 96 57 224 (D) 20 (D) 101 (D)
Africa ........................................... 1,547 18 234 429 60 65 (*) 196 546 2,119 (D) 168 (D) (D) (D) (*) 226 648
South Africa ................................... 421 1 -34 (D) 0 (D) (*) -5 345 663 -1 -96 (D) 0 (D) (*) (D) 350
Other .......................................... 1,126 17 268 (D) 60 (D) 0 201 201 1,456 (D) 264 200 (D) (D) 0 (D) 298
Middle East ...................................... 4,432 847 808 153 1,091 280 0 932 320 8,373 (D) 1,253 (D) (D) (D) 0 978 429
Israel ......................................... 2,485 0 811 (D) 999 (D) 0 (D) (D) 3,183 0 1,258 160 1,107 (D) 0 (D) 379
Kuwait ......................................... 916 (D) 1 (*) (D) (D) 0 831 (D) 957 -5 2 (*) (D) 1 0 (D) (D)
Lebanon ........................................ 1 0 (D) 0 0 0 0 (D) (*) 1 0 (D) 0 0 0 0 (D) (*)
Saudi Arabia ................................... 946 (D) -1 6 11 2 0 55 (D) (D) (D) -4 (D) (D) 2 0 55 (D)
United Arab Emirates ........................... 13 (D) -3 (D) (D) 1 0 10 2 79 54 -5 (D) (D) 1 0 10 -10
Other .......................................... 71 (D) (D) (D) 49 (D) 0 25 (D) (D) -5 (D) -1 49 (D) 0 31 -11
Asia and Pacific ................................. 174,993 -5 51,141 48,404 11,014 19,817 1,313 13,632 29,677 194,002 147 56,781 54,623 10,869 21,470 1,358 14,033 34,722
Australia ...................................... 13,230 62 3,458 41 (D) 1,987 (D) 881 5,095 14,487 62 5,491 94 (D) 1,914 (D) (D) 4,155
Hong Kong ...................................... 883 (D) 251 254 203 (D) 1 160 -2 1,494 (D) 491 409 207 8 -1 162 (D)
Japan .......................................... 153,119 145 45,617 45,479 7,362 17,851 1,099 10,799 24,768 163,215 602 43,724 50,785 7,258 19,597 1,127 10,894 29,229
Korea, Republic of ............................. 1,853 (D) 314 1,404 183 73 (D) 36 2 2,696 (D) 1,017 1,768 247 (D) 17 40 2
Malaysia ....................................... 71 (*) 19 126 (D) (D) 0 (*) 105 36 -6 4 (D) (D) (D) 0 (*) 105
New Zealand .................................... 425 0 11 (D) 0 0 (D) 77 178 387 0 6 (D) 0 0 0 (D) (D)
Philippines .................................... 101 (*) 16 -25 112 5 1 3 -10 27 (*) (*) 8 (D) 7 0 7 (D)
Singapore ...................................... 1,370 -12 109 (D) 142 7 (*) (D) -664 7,661 10 (D) 213 169 7 1 (D) (D)
Taiwan ......................................... 2,990 -4 1,168 605 881 59 8 47 225 3,224 -4 1,179 743 878 65 (D) 56 (D)
Other .......................................... 951 -19 177 163 592 16 (D) (D) -19 774 -53 (D) 230 553 16 (D) 36 -61
p Preliminary.
r Revised.
* Less than $500,000 (+/-).
D Suppressed to avoid disclosure of data of individual companies.
Source: U.S. Bureau of Economic Analysis
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