News Release

FOR WIRE TRANSMISSION: 10:00 a.m. EDT, Thursday, June 28, 2001
BEA 01-19

International Investment Position of the United States, 2000




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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.
                      *          *          *
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Current Business, and BEA news releases are available on BEA's web site:
                        <www.bea.doc.gov>
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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