News Release
U.S. Net International Investment Position at Yearend, 2001
 |
Many of the tables in our news releases are very wide. Printing tips are available.
This release is also available in PDF format for easier printing.
Tables in the release are available in an XLS spreadsheet.
Investment Position: BEA 02-21
Elena L. Nguyen (202) 606-9555
Direct Investment Detail at Historical Cost:
Foreign Direct Investment in the United States:
Greg Fouch (202) 606-9831
Maria Borga (202) 606-9853
U.S. Direct Investment Abroad:
Mark W. New (202) 606-9875
Dan Yorgason (202) 606-9804
U.S. Net International Investment Position at Yearend, 2001
At yearend 2001, the value of foreign investment in the United States exceeded
the value of U.S. investment abroad by $1,948.1 billion with direct investment valued at current
cost (Table 1). At yearend 2000, foreign investments in the United States exceeded U.S.
investments abroad by $1,350.8 billion (revised).
The previously published net international investment position for yearend 2000
was - $1,842.7 billion with direct investment at current cost. The revision reflects the
incorporation of the once-every-5-year Benchmark Survey of Foreign Holdings of U.S. Portfolio
Assets conducted by the U.S. Treasury Department.
The $597.3 billion increase in the negative net investment position from yearend
2000 to yearend 2001 was mainly due to large foreign purchases of U.S. stocks and bonds,
exchange rate appreciation of the U.S. dollar (which reduced the value of U.S. holdings
denominated in foreign currencies), and stock market price declines abroad (which lowered the
value of U.S.-owned assets abroad) that exceeded declines in stock market prices in the United
States (which lowered the value of foreign-owned assets in the United States).
With direct investment valued at the current stock market value of owners' equity,
the negative net investment position was $2,309.1 billion at yearend 2001, compared with
$1,583.2 (revised) at yearend 2000. The $726.0 billion increase on this basis was due to the
same factors as above -- i.e., large net foreign purchases of U.S. stocks and bonds, appreciation
of the dollar, and larger declines in stock market prices abroad than in the United States. Other
highlights include:
Foreign acquisitions of assets in the United States in 2001 slowed to $752.8 billion from
a record $1,016.0 billion in 2000. Foreign direct investment in the United States slowed
substantially as a result of a large drop in foreign acquisitions of U.S. companies. Net
foreign purchases of U.S. securities other than U.S. Treasury securities also slowed, but
included record net purchases of U.S. bonds. Inflows reported by U.S. banks remained
strong.
U.S. acquisitions of assets abroad in 2001 slowed to $371.0 billion from a record $606.5
billion in 2000. U.S. nonbanks' claims on foreigners, mostly deposits overseas, slowed
substantially. U.S. direct investment abroad slowed as U.S. acquisitions of foreign
companies fell. U.S. banks' claims on foreigners were off from last year's record but
remained strong. U.S. investors shifted to net sellers of foreign bonds but continued as
net purchasers of foreign stocks.
Price depreciation of U.S. stocks reduced the value of foreign holdings of U.S. stocks and
substantially reduced the value of owners' equity of foreign direct investment in the
United States on a market value basis. Price depreciation of foreign stocks also
diminished the value of U.S. holdings of foreign stocks and substantially reduced the
value of owners' equity of U.S. direct investment abroad on a market value basis.
Exchange rate depreciation, principally on U.S.-held foreign stocks and on U.S. direct
investment abroad, reflected depreciation of most foreign currencies against the U.S.
dollar from yearend 2000 to yearend 2001.
______________________________________________________________________________
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 $4.2 billion to $6,196.1 billion with U.S.
direct investment valued at current cost, and they decreased $487.9 billion to $6,862.9 billion
with U.S. direct investment valued at market value.
Claims on foreigners reported by U.S. banks increased $164.7 billion to $1,416.8 billion,
reflecting continued strong lending to foreigners as borrowers shifted to bank credit amid
deteriorating conditions in the securities markets. Banks' domestic customers' claims decreased
as U.S. investors sharply reduced their holdings of foreign commercial paper.
U.S. holdings of foreign securities decreased $278.9 billion to $2,110.5 billion, as
a result of large negative valuation adjustments from price depreciation of foreign stocks and
from exchange rate depreciation of most foreign currencies against the U.S. dollar. These
negative valuation adjustments more than offset large U.S. net purchases of foreign stocks. U.S.
holdings of foreign bonds declined as a result of U.S. net sales and exchange rate depreciation
that were only partly offset by bond price appreciation.
U.S. direct investment abroad at current cost increased $107.8 billion to $1,623.1
billion; at market value, it decreased $384.3 billion to $2,289.9 billion. In 2001, net financial
outflows declined to $127.8 billion, the lowest level since 1997. By account: Net equity capital
outflows and reinvested earnings declined; net intercompany debt shifted to a small inflow. At
current cost, financial outflows more than accounted for the increase in the position. At market
value, financial outflows were more than offset by large declines in U.S. owners' equity, as
foreign stock prices fell sharply in 2001, and by depreciation of foreign currency-denominated
assets, as the value of the U.S. dollar appreciated against most foreign currencies.
Claims on unaffiliated foreigners reported by U.S. nonbanking concerns increased $8.5 billion
to $830.1 billion. U.S. deposits in Western Europe and the Caribbean banking centers increased,
but by much less than in the previous year.
U.S. official reserve assets increased $1.6 billion to $130.0 billion; an increase in the U.S.
reserve position at the International Monetary Fund and a small increase in the market value of
the U.S. gold stock were partly offset by a decline in the value of foreign currency-denominated
assets.
Foreign-owned assets in the United States increased $601.5 billion to $8,144.3 billion with
foreign direct investment valued at current cost, and they increased $238.0 billion to $9,172.1
billion with foreign direct investment valued at market value.
U.S. liabilities to private foreigners and international financial institutions
reported by U.S. banks increased $144.8 billion to $1,298.2 billion, largely as a result of U.S.
banks' borrowing from their own foreign offices abroad to fund their liquidity needs and lending
abroad.
Foreign holdings of U.S. securities other than U.S. Treasury securities, excluding official
holdings, increased $233.0 billion to $2,856.7 billion. Holdings of U.S. bonds increased,
primarily as a result of record net foreign purchases of outstanding U.S. corporate and agency
bonds, spurred by high yields on these issues relative to U.S. Treasury bonds and most other
industrial countries' bonds, and by record levels of highly-rated new issues overseas. Holdings
of U.S. stocks decreased, as strong foreign net purchases were more than offset by sizable price
depreciation.
Holdings of U.S. Treasury securities by private foreigners and international
financial institutions decreased $12.2 billion to $388.8 billion. Net foreign sales slowed in 2001,
partly because Treasury securities became more attractive to foreigners after disruptions in the
world financial markets caused by the September 11 terrorist attacks. 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
$124.2 billion to $1,498.9 billion; at market value, it decreased $239.3 billion to $2,526.7 billion.
In 2001, net financial inflows decreased sharply to $130.8 billion, the lowest since 1997. By
account: Net equity capital inflows slowed substantially, intercompany debt inflows fell, and
reinvested earnings became negative as earnings deteriorated. At current cost, net financial
inflows more than accounted for the increase in the position. At market value, 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 $75.1
billion to $804.4 billion, reflecting U.S. corporate borrowing from foreign banks and from U.S.
offshore finance affiliates in Western Europe and the Caribbean.
U.S. currency held by foreigners increased $23.8 billion to $275.6 billion,
reflecting an increase in U.S. shipments abroad as a result of economic problems and fears of
devaluation in some areas of the world.
Foreign official assets in the United States increased $12.8 billion to $1,021.7
billion. Net purchases of U.S. securities were nearly offset by large net withdrawals at U.S.
banks.
Detailed estimates of the U.S. direct investment position abroad and of the foreign direct
investment position in the United States are presented on a historical-cost basis in tables 2 and 3.
These detailed estimates by country and by industry are not available on either a current cost or
market value basis; they are only available on a historical-cost basis. At the level of all countries
combined, the estimates of the direct investment positions at historical cost are substantially less
than the estimates either at current cost or market value.
* * *
Revisions
Estimates of the U.S. net international investment position have been revised to
incorporate updated source data. A major revision this year is the incorporation of results of the
U.S. Treasury Department's Benchmark Survey of Foreign Holdings of U.S. Portfolio Assets as
of March 2000. The Benchmark Survey is a security by security enumeration, provided by
custodians and issuers of securities, of foreign holdings of U.S. portfolio assets with an original
maturity of more than 1 year. The survey results indicate a significant overstatement in the
previously published estimates of foreign holdings of long-term debt instruments, including
foreign holdings of U.S. Treasury securities, foreign holdings of U.S. federally sponsored agency
securities, and foreign holdings of U.S. corporate bonds. Consequently, foreign holdings of these
instruments are revised down. Foreign holdings of U.S. stocks in most years are understated in
the previously published estimates, those years are revised up. The results from the Benchmark
Survey reduced the size of the negative U.S. net international investment position estimates in all
years for 1995-2000. The largest revisions are in recent years. At yearend 2000, the year of the
benchmark survey, the negative international investment position is revised from $1,842.7 billion
to $1,350.8 billion with direct investment at current cost, and from $2,187.4 billion to $1,583.2
billion with direct investment at market value.
In addition to the above improvements, all estimates are 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 1997-2000.
A more detailed discussion of the U.S. net international investment position in
2001 and the revised historical data will appear in the July issue of the Survey of Current
Business. That issue will also contain an article about direct investment positions at historical
cost and revised historical data. The articles and revised data will also be posted on BEA's Web
site at <www.bea.gov/newsreleases/rels.htm>.
* * *
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.gov>
Most of BEA's estimates and analyses appear in the Survey of Current Business,
BEA's monthly journal. Subscriptions and single copies of the printed Survey are for sale by the
Superintendent of Documents, U.S. Government Printing Office. Internet: <bookstore.gpo.gov>:
phone: 202-512-1800; fax: 202-512-2250; mail: Stop SSOP, Washington, DC 20402-0001.
Table 1.--International Investment Position of the United States at Yearend, 2000 and 2001
[Millions of dollars]
Changes in position in 2001 (decrease (-))
Attributable to:
Valuation adjustments
Line Type of investment
Position, Position,
2000 /r/ Exchange 2001 /p/
Financial Price rate Other
flows changes changes /1/ changes /2/ Total
(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). -1,350,791 -381,845 -116,510 -103,402 4,414 -597,343 -1,948,134
2 With direct investment positions at market value (line 4 less line 17). -1,583,153 -381,845 -215,482 -145,572 16,935 -725,964 -2,309,117
U.S.-owned assets abroad:
3 With direct investment positions at current cost (lines 5+6+7)....... 6,191,934 370,962 -258,272 -124,662 16,177 4,205 6,196,139
4 With direct investment positions at market value (lines 5+6+8)....... 7,350,862 370,962 -715,843 -163,854 20,816 -487,919 6,862,943
5 U.S. official reserve assets........................................... 128,400 4,911 536 -3,879 -7 1,561 129,961
6 U.S. Government assets, other than official reserve assets............. 85,164 486 .... .... .... 486 85,650
U.S. private assets:
7 With direct investment at current cost (lines 9+11+14+15).......... 5,978,370 365,565 -258,808 -120,783 16,184 2,158 5,980,528
8 With direct investment at market value (lines 10+11+14+15)......... 7,137,298 365,565 -716,379 -159,975 20,823 -489,966 6,647,332
Direct investment abroad:
9 At current cost.................................................... 1,515,279 127,840 19,533 -17,713 -21,817 107,843 1,623,122
10 At market value.................................................... 2,674,207 127,840 -438,038 -56,905 -17,178 -384,281 2,289,926
11 Foreign securities................................................... 2,389,427 94,662 -278,341 -95,228 .... -278,907 2,110,520
12 Bonds.............................................................. 557,019 -12,147 18,214 -17,304 .... -11,237 545,782
13 Corporate stocks................................................... 1,832,408 106,809 -296,555 -77,924 .... -267,670 1,564,738
14 U.S. claims on unaffiliated foreigners reported by U.S.
nonbanking concerns................................................ 821,564 14,358 .... -5,811 .... 8,547 830,111
15 U.S. claims reported by U.S. banks, not included elsewhere........... 1,252,100 128,705 .... -2,031 38,001 164,675 1,416,775
Foreign-owned assets in the United States:
16 With direct investment at current cost (lines 18+19)................. 7,542,725 752,807 -141,762 -21,260 11,763 601,548 8,144,273
17 With direct investment at market value (lines 18+20)................. 8,934,015 752,807 -500,361 -18,282 3,881 238,045 9,172,060
18 Foreign official assets in the United States........................... 1,008,890 5,225 1,623 .... 6,000 12,848 1,021,738
Other foreign assets:
19 With direct investment at current cost (lines 21+23+24+27+28+29)... 6,533,835 747,582 -143,385 -21,260 5,763 588,700 7,122,535
20 With direct investment at market value (lines 22+23+24+27+28+29)... 7,925,125 747,582 -501,984 -18,282 -2,119 225,197 8,150,322
Direct investment in the United States:
21 At current cost.................................................... 1,374,752 130,796 14,214 -2,978 -17,860 124,172 1,498,924
22 At market value.................................................... 2,766,042 130,796 -344,385 .... -25,742 -239,331 2,526,711
23 U.S. Treasury securities............................................. 400,966 -7,670 4,719 .... -9,241 -12,192 388,774
24 U.S. securities other than U.S. Treasury securities.................. 2,623,628 407,653 -162,318 -12,309 .... 233,026 2,856,654
25 Corporate and other bonds.......................................... 1,075,988 288,200 40,741 -12,309 .... 316,632 1,392,620
26 Corporate stocks................................................... 1,547,640 119,453 -203,059 .... .... -83,606 1,464,034
27 U.S. currency........................................................ 251,786 23,783 .... .... .... 23,783 275,569
28 U.S. liabilities to unaffiliated foreigners reported by U.S.
nonbanking concerns................................................ 729,340 82,353 .... -2,140 -5,136 75,077 804,417
29 U.S. liabilities reported by U.S. banks, not included elsewhere...... 1,153,363 110,667 .... -3,833 38,000 144,834 1,298,197
p Preliminary.
r Revised.
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. Bureau of Economic Analysis
Table 2--U.S. Direct Investment Position Abroad on a Historical-Cost Basis at Yearend
[Millions of dollars]
2000r 2001p
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 ........................................... 1,293,431 95,834 353,550 83,724 38,071 542,641 80,144 99,469 1,381,674 102,074 376,259 92,836 49,319 572,545 86,491 102,150
Canada ....................................................... 128,814 18,461 50,768 9,614 2,107 32,746 6,324 8,795 139,031 23,755 53,724 10,150 2,049 33,568 6,531 9,256
Europe ....................................................... 679,457 30,944 185,663 46,050 24,435 299,345 46,733 46,288 725,793 28,227 204,338 51,261 25,177 320,621 50,621 45,548
Austria .................................................. 2,686 (D) 1,225 583 256 316 207 (D) 3,374 (D) 1,718 710 278 424 259 (D)
Belgium .................................................. 19,527 8 7,528 1,792 530 7,328 2,539 -198 20,392 -41 7,110 2,095 583 7,745 3,014 -114
Denmark .................................................. 5,363 1,096 2,023 656 0 (D) 122 (D) 6,537 887 2,117 1,868 0 (D) 98 (D)
Finland .................................................. 1,110 26 680 270 0 -5 61 77 1,143 9 724 300 0 (D) 62 (D)
France ................................................... 38,752 (D) 16,056 2,589 2,986 9,371 5,013 (D) 38,457 (D) 16,199 2,638 2,703 8,403 5,207 (D)
Germany .................................................. 50,963 1,540 24,083 3,459 314 14,757 3,568 3,241 61,437 2,430 34,482 2,546 236 14,355 4,162 3,226
Greece ................................................... 637 (D) 83 144 117 (D) 41 26 648 5 92 207 88 168 47 42
Ireland .................................................. 33,816 (D) 8,762 798 -50 14,303 8,817 (D) 34,499 (D) 10,457 935 -32 12,682 9,924 (D)
Italy .................................................... 22,392 (D) 12,265 2,370 344 2,832 2,509 (D) 23,893 (D) 13,132 2,167 353 3,256 2,475 (D)
Luxembourg ............................................... 25,571 49 3,401 1,058 310 20,630 103 19 30,039 46 3,623 1,328 381 24,489 151 20
Netherlands .............................................. 117,557 3,084 29,484 8,742 (D) 71,270 3,025 (D) 131,884 4,337 34,701 10,364 (D) 76,304 3,649 (D)
Norway ................................................... 5,833 4,195 338 337 (D) 613 234 (D) 6,660 2,265 325 407 25 3,320 132 184
Portugal ................................................. 1,888 (D) 483 284 128 290 466 (D) 1,924 (D) 568 335 127 294 390 (D)
Spain .................................................... 19,846 155 6,813 1,815 2,279 7,877 541 365 19,421 (D) 6,576 1,162 2,344 8,514 527 (D)
Sweden ................................................... 22,676 89 14,002 359 (D) 5,949 1,294 (D) 17,968 56 8,653 437 (D) 6,584 1,275 (D)
Switzerland .............................................. 55,854 245 4,916 11,916 2,674 33,201 1,688 1,215 62,897 354 4,808 15,146 2,495 37,507 2,071 515
Turkey ................................................... 1,356 48 712 35 354 2 50 155 1,207 20 567 47 387 2 72 113
United Kingdom ........................................... 241,663 15,629 49,845 8,293 12,341 105,242 16,128 34,186 249,201 11,890 55,396 7,986 13,279 110,208 16,746 33,696
Other .................................................... 11,969 2,008 2,964 550 (D) 3,921 325 (D) 14,212 2,907 3,088 584 1,409 4,963 357 904
Latin America and Other Western Hemisphere ................... 251,863 10,026 47,980 8,887 -231 150,107 9,691 25,403 269,556 10,566 45,633 9,773 9,988 153,796 10,784 29,017
South America ............................................ 84,012 6,460 26,713 1,979 5,838 20,912 4,404 17,706 83,415 6,351 23,354 1,555 5,891 21,970 4,393 19,901
Argentina ............................................ 15,646 634 3,914 347 2,002 5,179 659 2,913 14,234 541 2,339 243 1,865 5,798 631 2,816
Brazil ............................................... 39,033 1,038 18,039 734 2,115 10,345 2,195 4,567 36,317 1,022 15,506 356 2,280 10,542 2,101 4,511
Chile ................................................ 9,451 78 1,447 359 997 2,902 203 3,465 11,674 87 1,888 362 1,011 2,997 194 5,136
Colombia ............................................. 4,606 872 1,314 122 (D) 802 (D) (D) 4,844 1,049 1,414 119 (D) 866 79 (D)
Ecuador .............................................. 763 397 235 53 (D) 56 (D) (*) 417 117 187 40 (D) 76 5 (D)
Peru ................................................. 3,485 357 196 73 (D) 846 80 (D) 3,591 418 217 77 (D) 862 56 (D)
Venezuela ............................................ 9,530 2,961 1,395 204 52 670 1,072 3,175 10,680 2,932 1,540 255 31 718 1,231 3,971
Other ................................................ 1,497 123 173 87 319 112 121 562 1,659 185 265 102 311 110 96 590
Central America .......................................... 70,474 1,345 20,001 3,605 1,673 37,156 1,429 5,265 80,560 933 20,708 3,521 (D) 34,036 1,669 (D)
Costa Rica ........................................... 1,655 31 451 (D) 0 2 -2 (D) 1,614 41 461 (D) 0 4 -2 (D)
Guatemala ............................................ 907 474 231 34 (D) 124 3 (D) 477 76 187 30 (D) 127 3 (D)
Honduras ............................................. 257 (D) 216 3 (D) 9 0 -1 49 12 54 7 (D) 5 0 (D)
Mexico ............................................... 37,332 163 18,794 1,947 1,625 8,494 1,233 5,077 52,168 265 19,701 1,969 (D) 9,647 1,180 (D)
Panama ............................................... 29,316 354 152 (D) 15 28,192 195 (D) 25,296 331 173 (D) (D) 23,900 488 -26
Other ................................................ 1,006 (D) 157 30 (D) 336 0 (D) 955 207 133 41 (D) 351 0 (D)
Other Western Hemisphere ................................. 97,377 2,221 1,267 3,303 -7,741 92,038 3,857 2,432 105,581 3,283 1,570 4,697 (D) 97,791 4,721 (D)
Bahamas .............................................. 2,317 (D) (D) (D) -3,872 4,402 33 55 2,125 1,456 (D) 196 -4,520 4,801 38 (D)
Barbados ............................................. 1,170 (D) 65 298 (D) 263 339 (D) 1,238 102 66 374 24 (D) 496 (D)
Bermuda .............................................. 56,594 (D) (D) 2,330 0 52,087 2,656 -30 61,929 (D) 611 3,516 0 54,451 3,122 (D)
Dominican Republic ................................... 813 (D) 303 46 (D) (*) 19 180 752 189 187 59 (D) (*) (D) (D)
Jamaica .............................................. 2,354 (D) 239 (D) (D) 14 53 1,965 2,280 32 188 (D) (D) 18 59 (D)
Netherlands Antilles ................................. 3,518 (*) (D) 62 0 3,433 (D) (*) 3,661 (*) 26 64 0 3,577 -5 (*)
Trinidad and Tobago .................................. 1,524 1,010 309 22 (D) (D) 1 119 1,978 1,397 369 24 (D) 26 1 (D)
United Kingdom Islands, Caribbean .................... 28,514 320 -104 322 -4,081 31,142 694 222 30,680 201 -2 410 -5,369 34,168 951 322
Other ................................................ 573 -139 (D) 9 (D) (D) (D) (D) 936 (D) (D) (D) (D) (D) (D) (D)
Africa ....................................................... 14,417 8,985 1,779 264 430 1,239 589 1,130 15,872 11,649 1,435 284 434 631 386 1,054
Egypt .................................................... 2,344 1,996 239 39 (D) 0 -137 (D) 3,068 3,068 -108 27 (D) 2 -104 (D)
Nigeria .................................................. 1,237 840 54 (D) (D) (D) 0 4 1,467 1,801 51 (D) (D) (D) 0 4
South Africa ............................................. 3,245 6 900 160 (D) (D) 608 (D) 2,950 67 1,007 123 (D) (D) 353 (D)
Other .................................................... 7,591 6,143 587 (D) 140 318 118 (D) 8,386 6,713 485 (D) 193 425 137 (D)
Middle East .................................................. 11,087 2,395 2,333 398 863 1,703 1,358 2,037 12,643 2,896 3,030 461 834 1,922 1,397 2,104
Israel ................................................... 3,386 4 1,974 72 0 222 897 217 4,122 4 2,626 69 -5 229 907 293
Saudi Arabia ............................................. 4,225 221 137 109 (D) 970 295 (D) 4,162 219 169 109 (D) 948 336 (D)
United Arab Emirates ..................................... 737 240 75 217 (D) (D) 92 -63 942 265 (D) 282 (D) 40 107 3
Other .................................................... 2,739 1,931 147 (*) -1 (D) 73 (D) 3,417 2,408 (D) (*) -2 706 48 (D)
Asia and Pacific ............................................. 205,317 22,316 65,027 18,512 10,466 57,500 15,450 16,047 216,501 22,401 68,100 20,907 10,837 62,008 16,773 15,475
Australia ................................................ 35,364 8,286 7,795 2,480 1,523 7,743 2,285 5,252 34,041 9,208 6,761 2,470 1,529 7,752 2,025 4,297
China .................................................... 9,861 1,531 6,213 336 78 812 303 588 10,526 1,300 7,044 549 183 628 234 589
Hong Kong ................................................ 26,621 217 3,110 5,766 2,436 10,776 513 3,803 29,389 177 2,650 7,402 2,016 12,458 660 4,026
India .................................................... 1,431 -440 774 221 291 222 70 292 1,739 -446 912 121 404 263 96 389
Indonesia ................................................ 8,514 5,579 253 (D) 249 169 (D) 2,138 8,807 5,526 254 (D) 295 (D) 118 2,533
Japan .................................................... 59,441 1,721 15,468 4,940 859 24,047 10,345 2,061 64,103 1,352 16,579 5,678 910 25,993 11,596 1,996
Korea, Republic of ....................................... 8,914 45 4,918 1,073 1,938 136 468 336 9,864 47 5,532 992 2,099 266 518 410
Malaysia ................................................. 7,400 970 4,725 342 (D) 762 154 (D) 6,820 639 4,401 375 (D) 817 116 (D)
New Zealand .............................................. 3,854 64 436 256 (D) 2,620 (D) (D) 3,992 89 460 346 54 2,563 30 451
Philippines .............................................. 2,735 116 1,283 190 201 675 -7 277 2,776 -36 1,498 189 248 789 -7 96
Singapore ................................................ 25,634 1,916 13,088 1,583 696 7,052 984 316 27,295 1,922 14,716 1,404 775 7,072 1,137 269
Taiwan ................................................... 7,821 60 3,686 879 688 2,051 108 349 8,814 68 3,834 938 809 2,683 132 351
Thailand ................................................. 6,635 1,717 3,274 371 665 425 71 113 7,337 2,045 3,452 367 747 640 90 -5
Other .................................................... 1,091 534 5 (D) (D) 10 32 (D) 997 510 7 (D) (D) (D) 29 (D)
International 1/.............................................. 2,476 2,706 .... .... .... .... .... -230 2,278 2,581 .... .... .... .... .... -303
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]
2000r 2001p
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 ........................ 1,214,254 87,055 479,851 139,952 68,128 84,383 112,482 42,682 199,722 1,321,063 95,922 508,535 148,807 78,094 85,990 120,400 44,163 239,151
Canada .................................. 114,599 3,401 56,608 8,538 3,095 12,631 8,805 6,383 15,139 108,600 3,654 39,935 8,163 6,022 17,422 8,902 6,257 18,245
Europe .................................. 835,137 78,706 358,521 70,874 50,453 43,982 91,113 15,967 125,522 946,758 79,982 396,630 79,567 56,568 43,077 96,353 16,089 178,492
Austria ............................... 3,174 0 933 (D) (D) (D) (D) 40 (D) 3,298 0 971 (D) (D) (D) -1 39 (D)
Belgium ............................... 14,585 -166 6,304 (D) (D) 3,688 -1 38 2,048 14,721 (D) 7,399 (D) (D) 2,561 4 38 2,126
Denmark ............................... 4,428 (*) 4,220 -356 (D) (D) -4 (D) 458 2,091 (*) 2,506 (D) (D) (D) -4 (D) (D)
Finland ............................... 9,107 (D) 6,069 (D) (D) -29 (*) (D) (D) 8,762 (D) 6,077 2,219 (D) -41 (*) (D) (D)
France ................................ 131,484 (D) 72,385 4,034 3,108 (D) 14,783 (D) (D) 147,207 94 74,677 (D) 4,967 19,575 18,200 (D) 23,705
Germany ............................... 124,839 225 60,483 12,193 18,892 4,702 13,488 4,939 9,919 152,760 199 59,987 11,279 19,394 4,822 12,216 5,310 39,553
Ireland ............................... 23,528 (D) 4,489 (D) (D) (D) (D) (D) 5,869 28,196 (D) 3,789 (D) (D) (D) 4,646 287 (D)
Italy ................................. 5,994 (D) 1,245 1,636 1,170 (D) (D) 80 (D) 5,916 (D) 900 1,997 1,061 (D) (D) 88 230
Liechtenstein ......................... 202 0 -10 110 0 (D) 0 67 (D) 193 0 -18 109 0 3 0 66 32
Luxembourg ............................ 53,794 (D) 37,910 2,089 0 1,072 (D) 482 (D) 40,232 (D) 19,299 1,852 0 282 (D) (D) 18,266
Netherlands ........................... 146,493 11,695 51,002 20,138 12,204 3,237 33,647 4,528 10,040 158,020 6,987 50,109 (D) 12,092 2,422 38,911 4,635 (D)
Norway ................................ 2,241 (D) 1,900 -456 (D) (D) (*) 31 (D) 2,277 370 2,068 87 (D) (D) (*) (D) -360
Spain ................................. 5,459 (*) 1,161 (D) 1,318 3 280 50 (D) 5,092 0 1,256 (D) 1,396 (D) 288 52 2,056
Sweden ................................ 22,427 (D) 9,289 (D) -135 (D) (D) (D) 8,070 23,299 (D) 9,265 4,422 -30 (D) (D) 765 7,197
Switzerland ........................... 69,240 1,297 33,241 3,134 (D) (D) 13,013 471 (D) 125,521 (D) 85,445 3,340 (D) 8,057 13,666 510 4,631
United Kingdom ........................ 213,820 63,499 65,448 12,546 6,854 4,260 8,872 3,350 48,990 217,746 (D) 67,152 (D) 10,484 3,695 4,970 2,965 50,691
Other ................................. 4,322 713 2,455 (D) 361 (D) 15 522 (D) 11,428 1,077 5,748 (D) 363 221 (D) 1,033 (D)
Latin America and Other Western
Hemisphere ............................ 54,463 2,363 5,735 5,089 2,599 6,013 11,165 5,130 16,369 58,881 9,385 4,889 5,914 2,858 5,442 14,093 6,762 9,537
South and Central America ............. 13,682 465 -1,567 (D) 2,027 4,547 (D) 171 1,075 17,040 (D) -2,204 1,605 2,126 3,935 (D) 113 956
Brazil .............................. 886 (D) -249 57 425 (D) (D) 13 -15 578 124 -150 (D) 447 (D) (D) (D) (D)
Mexico .............................. 7,832 -10 1,261 (D) 268 (D) (*) -8 906 7,418 -10 960 1,584 283 3,592 -9 -1 1,021
Panama .............................. 3,726 -3 (D) -67 57 (D) (D) 176 (D) 4,199 27 (D) (D) (D) (D) (D) 161 202
Venezuela ........................... 802 (D) -20 3 582 -3 3 -21 (D) 4,722 (D) -24 6 587 -3 3 (D) (D)
Other ............................... 435 -2 (D) (D) 696 43 -1 11 -87 123 (D) (D) 74 (D) 42 (*) 15 -430
Other Western Hemisphere .............. 40,782 1,897 7,302 (D) 572 1,466 (D) 4,960 15,295 41,840 (D) 7,094 4,309 732 1,506 (D) 6,649 8,581
Bahamas ............................. 1,268 (D) 293 (D) (D) (D) 0 218 -72 1,351 (D) 238 (D) (D) 4 0 269 -121
Bermuda ............................. 18,502 189 3,215 (D) (D) (D) 3,660 388 10,842 15,748 199 2,200 795 (D) (D) 4,963 (D) 7,589
Netherlands Antilles ................ 3,940 (D) 695 (D) 161 22 -2 1,080 227 3,923 (D) 609 (D) 179 53 -2 746 201
United Kingdom Islands, Caribbean ... 15,353 299 3,037 1,809 240 1,602 (D) 3,174 (D) 18,244 3,173 3,995 2,145 254 1,646 (D) 5,348 (D)
Other ............................... 1,718 96 61 287 (D) 23 (D) 101 (D) 2,575 (D) 52 (D) (D) (D) (D) (D) (D)
Africa .................................. 2,756 (D) 226 (D) (D) (D) -11 199 663 3,264 (D) 194 (D) (D) (D) 38 173 (D)
South Africa .......................... 1,218 -1 -100 (D) 0 (D) -11 (D) 330 1,867 (*) -105 (D) 0 (D) (D) (*) (D)
Other ................................. 1,538 (D) 325 224 (D) (D) 0 (D) 334 1,397 (D) 299 68 (D) (D) (D) 173 355
Middle East ............................. 6,189 (D) 877 (D) (D) (D) 0 931 232 6,039 (D) 892 (D) (D) (D) 0 999 (D)
Israel ................................ 2,690 0 882 160 1,107 (D) 0 (D) 196 2,876 0 905 (D) 1,316 (D) 0 (D) (D)
Kuwait ................................ 908 -6 2 (*) (D) 1 0 (D) (D) 990 -4 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 .......................... (D) (D) -4 (D) (D) 2 0 57 (D) (D) (D) -14 (D) (D) 2 0 56 -13
United Arab Emirates .................. 64 47 -4 (D) (D) 1 0 10 -19 -23 (D) -2 (D) (D) 1 0 10 (D)
Other ................................. (D) -6 (D) -1 49 (D) 0 31 -13 (D) (D) (D) 1 49 (D) 0 31 -15
Asia and Pacific ........................ 201,110 135 57,886 54,882 10,704 20,225 1,410 14,071 41,797 197,522 816 65,995 54,669 11,139 18,539 1,014 13,883 31,467
Australia ............................. 20,701 65 5,371 89 (D) 1,904 (D) (D) 10,486 23,488 (D) 4,883 108 (D) (D) -55 (D) (D)
Hong Kong ............................. 1,544 (D) 529 398 207 8 -1 172 (D) 1,552 -1 401 431 249 (D) -1 189 (D)
Japan ................................. 163,577 585 44,936 50,531 7,314 18,290 1,127 10,900 29,893 158,988 891 53,822 50,883 7,550 16,433 1,045 11,070 17,295
Korea, Republic of .................... 3,287 (D) 1,018 2,347 245 (D) 17 40 -1 3,121 (D) 983 1,877 272 (D) 17 43 5
Malaysia .............................. 92 -5 30 (D) (D) (D) 0 (*) 121 21 -4 13 (D) (D) (D) 0 1 (D)
New Zealand ........................... 385 0 4 (D) 0 0 0 (D) (D) 465 0 38 (D) 0 6 0 (D) -15
Philippines ........................... 50 (*) 24 8 (D) 6 0 7 (D) 2 -1 -11 -2 18 8 0 7 -18
Singapore ............................. 7,751 2 (D) 174 169 7 1 (D) (D) 6,502 39 4,858 248 183 6 -1 1,116 51
Taiwan ................................ 3,131 -5 1,083 735 878 124 (D) 49 (D) 2,551 (*) 963 (D) 936 (D) 8 48 (D)
Other ................................. 593 -43 (D) 213 400 16 (D) 36 -70 831 -36 45 272 438 16 1 48 48
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