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EMBARGOED UNTIL RELEASE AT 8:30 A.M. EDT, THURSDAY, JULY 22, 2021 BEA 21-35 Technical: Ryan Smith (301) 278-9246 Ryan.Smith@bea.gov Media: Jeannine Aversa (301) 278-9003 Jeannine.Aversa@bea.gov Direct Investment by Country and Industry, 2020 The U.S. direct investment abroad position, or cumulative level of investment, increased $244.9 billion to $6.15 trillion at the end of 2020 from $5.91 trillion at the end of 2019, according to statistics released by the Bureau of Economic Analysis (BEA). The increase reflected a $158.8 billion increase in the position in Europe, primarily in the United Kingdom and the Netherlands. By industry, holding company affiliates owned by U.S. manufacturers had the largest increase. The foreign direct investment in the United States position increased $187.2 billion to $4.63 trillion at the end of 2020 from $4.44 trillion at the end of 2019. The increase mainly reflected a $119.2 billion increase in the position from Europe, primarily Germany. By industry, affiliates in manufacturing, finance and insurance, and wholesale trade accounted for the majority of the increase. U.S. direct investment abroad (tables 1 – 6) U.S. multinational enterprises (MNEs) invest in nearly every country, but their investment in affiliates in five countries accounted for more than half of the total position at the end of 2020. The U.S. direct investment abroad position was largest in the United Kingdom ($890.1 billion), followed by the Netherlands ($844.0 billion) and Luxembourg ($759.4 billion). Canada ($422.2 billion) and Ireland ($390.3 billion) rounded out the top-five. By industry of the directly-owned foreign affiliate, investment was highly concentrated in holding companies, which accounted for nearly half of the overall position in 2020. Most holding company affiliates, which are owned by U.S. parents from a variety of industries, own other foreign affiliates that operate in a variety of industries. By industry of the U.S. parent, investment by manufacturing MNEs accounted for 51.6 percent of the position, followed by MNEs in finance and insurance (13.9 percent). U.S. MNEs earned income of $452.0 billion in 2020 on their cumulative investment abroad, a 13.0 percent decrease from 2019. Dividends, or repatriated profits, decreased $124.6 billion, or 30.7 percent. Foreign direct investment in the United States (tables 7 – 10) By country of the foreign parent, five countries accounted for more than half of the total position at the end of 2020. Japan remained the top investing country at the end of 2020 with a position of $647.7 billion. Canada ($490.8 billion) moved up one position from 2019 to be the second largest investing country, moving the United Kingdom ($486.9 billion) into third. The Netherlands ($484.0 billion) and Germany ($411.3 billion) were the fourth and fifth largest investing countries respectively at the end of 2020. By country of the ultimate beneficial owner (UBO), Japan ($679.0 billion) and Canada ($569.8 billion) remained the top investing countries in terms of position at the end of 2020. Germany ($564.3 billion) moved up one position from 2019 to be the third largest, moving the United Kingdom ($480.8 billion) to fourth. France ($315.0 billion) entered the top 5 investing countries at the end of 2020, moving up one position from 2019. On the UBO basis, investment from the Netherlands and Luxembourg was much lower than by the country of foreign parent, indicating that much of the investment from foreign parents in these countries was ultimately owned by investors in other countries. Foreign direct investment in the United States was concentrated in the U.S. manufacturing sector, which accounted for 40.3 percent of the position. There was also sizable investment in finance and insurance (12.2 percent) and wholesale trade (11.1 percent). Foreign MNEs earned income of $151.8 billion in 2020 on their cumulative investment in the United States, a 24.1 percent decrease from 2019. Updates to Direct Investment Statistics BEA statistics for U.S. direct investment abroad and foreign direct investment in the United States for 2017–2019 are revised to incorporate newly available and revised source data. Next release: July 2022 Direct Investment by Country and Industry, 2021 –2– Additional Information Resources • • • • • • • transactions and other changes, including capital gains and losses, currency-translation adjustments, and other changes in volume and valuation, such as adjustments to book value from affiliates’ current sale or purchase price. More statistics on direct investment by country and industry are available on the BEA website. A description of the estimation methods used to compile statistics on direct investment by country and industry is provided in U.S. International Economic Accounts: Concepts and Methods. Stay informed about BEA developments by reading the BEA blog, signing up for BEA’s email subscription service, or following BEA on Twitter @BEA_News Historical time series for these estimates can be accessed in BEA’s interactive data application. Summary data by country are available in BEA’s International Trade and Investment Country Facts. Access BEA data by registering for BEA’s Data Application Programming Interface (API). Additional information on direct investment positions will be published in the August issue of the Survey of Current Business. Direct investment financial transactions are financial transactions that increase or decrease financial claims and liabilities between the parent group and their affiliates. Direct investment financial transactions consist of reinvestment of earnings, equity investment other than reinvestment of earnings, and investment in debt instruments. Reinvestment of earnings is an affiliate’s total earnings less dividends paid to its parent. It represents the part of earnings that are reinvested in the affiliate rather than repatriated to the parent. Equity investment other than reinvestment of earnings is measured as the difference between equity increases and decreases. Equity increases are transactions that result in the parent increasing their equity interest in their affiliate. Equity decreases are transactions that result in the parent reducing their equity interest in their affiliate. Definitions Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise resident in another economy. Ownership or control of 10 percent or more of the voting securities of an entity in another economy is the threshold for separating direct investment from other types of investment. Debt instruments investment reflects parent group lending to and borrowing from their affiliates. Income earned on direct investment includes income on equity—whether profits or losses and whether distributed or reinvested—and net interest on debt. A foreign affiliate is a foreign business enterprise that is at least 10 percent owned by a single U.S. person or entity. Statistical conventions A U.S. parent is a U.S. person or entity that owns 10 percent or more of a foreign business enterprise. BEA’s direct investment statistics are primarily based on data reported in the Quarterly Survey of U.S. Direct Investment Abroad (BE-577) and the Quarterly Survey of Foreign Direct Investment in the United States (BE-605). Both surveys are conducted by BEA. A U.S. affiliate is a U.S. business enterprise that is at least 10 percent owned by a single foreign person or entity. A foreign parent is the first person or entity outside the United States in a U.S. affiliate’s ownership chain that has a direct investment interest in the affiliate. The countries identified in this release reflect the location of the immediate counterpart, unless otherwise noted. The countries identified for the U.S. direct investment abroad position may not reflect the ultimate destination of the funds. Likewise, the countries identified for the foreign direct investment position in United States may not reflect the ultimate source of the funds, which is often the ultimate beneficial owner. The ultimate beneficial owner (UBO) is the person or entity, proceeding up a U.S. affiliate's ownership chain, beginning with the foreign parent, that is not owned more than 50 percent by another entity. The UBO ultimately owns or controls, and thus ultimately derives the benefits and assumes the risks from owning or controlling, an affiliate. The country of the UBO is often the same as that of the foreign parent, but it may be a different country or the United States. The direct investment positions in this release are valued at historical cost. Positions reflect the book value of direct investors’ equity in, and net outstanding loans to, their affiliates. This valuation is derived principally from the accounting records of affiliates, which are primarily compiled under U.S. Generally Accepted Accounting Principles (GAAP) or International Financial Reporting The direct investment position is the value of direct investors’ equity in, and net outstanding loans to, their affiliates. Changes in the position result from financial –3– Standards (IFRS). This differs from the market value measure featured in the U.S. net international investment position accounts. Statistics on direct investment and multinational enterprises (MNEs) include annual statistics on the activities of U.S. MNEs and U.S. affiliates of foreign MNEs as well as on new foreign direct investment in the United States. This release presents statistics on a directional basis rather than the on the asset/liability basis featured in the U.S. international transactions accounts and the U.S. net international investment position accounts. On a directional basis, direct investment claims and liabilities are classified according to whether the direct investor is a U.S. resident or a foreign resident. U.S. direct investment abroad occurs between a U.S. parent and its foreign affiliates. Foreign direct investment in the United States occurs between a foreign parent and its U.S. affiliates. On an asset/liability basis, direct investment statistics are organized according to whether the investment relates to an asset or liability for U.S. parents or for U.S. affiliates of foreign parents. The international investment position (IIP) accounts are released quarterly. The IIP is a statistical balance sheet that presents the dollar value of U.S. financial assets and liabilities with respect to foreign residents at a specific point in time. The international transactions accounts (ITAs) are released quarterly. The ITAs are a statistical summary of economic activity between U.S. residents and the residents of other countries. Statistics on international services, released annually, include detailed annual information on trade in services and on services supplied through the channel of direct investment by affiliates of MNEs. Related Statistics Statistics on direct investment by country and industry are one part of a broader set of U.S. international economic accounts that, taken together, provide a comprehensive, integrated, and detailed picture of U.S. international economic activities. U.S. international trade in goods and services, released by BEA and the U.S. Census Bureau, provides monthly statistics on trade in goods and services. List of News Release Tables Table 1. U.S. Direct Investment Abroad: Selected Items by Country of Foreign Affiliate Table 2. U.S. Direct Investment Abroad: Selected Items by Industry of Foreign Affiliate Table 3. U.S. Direct Investment Abroad: Dividends by Country of Foreign Affiliate Table 4. U.S. Direct Investment Abroad: Dividends by Industry of U.S. Parent Table 5. U.S. Direct Investment Position Abroad, by Industry of Affiliate and by Industry of U.S. Parent Table 6. U.S. Direct Investment Position Abroad, Country by Industry of Foreign Affiliate Table 7. Foreign Direct Investment in the United States: Selected Items by Country of Foreign Parent Table 8. Foreign Direct Investment Position in the United States, by Country of Foreign Parent and of the Ultimate Beneficial Owner Table 9. Foreign Direct Investment in the United States: Selected Items by Industry of U.S. Affiliate Table 10. Foreign Direct Investment Position in the United States, Country by Industry of U.S. Affiliate –4– Table 1. U.S. Direct Investment Abroad: Selected Items by Country of Foreign Affiliate, 2017-2020 Direct investment position on a historical-cost basis 2017 2018 2019 6,097,690 5,792,290 5,907,424 371,274 373,604 404,589 3,654,095 3,413,031 3,501,659 7,987 6,848 6,921 53,645 59,397 64,633 4,844 5,253 5,456 12,107 10,692 9,108 2,513 4,063 4,504 78,632 67,548 88,425 132,595 134,794 151,278 1,198 431 90 6,672 5,283 12,166 457,301 444,037 398,749 27,617 32,842 28,270 703,066 720,628 751,657 929,746 809,663 810,986 26,901 25,905 24,632 12,266 11,870 10,720 2,372 2,504 2,437 13,786 12,779 13,597 35,482 31,916 35,787 36,896 43,521 42,722 252,231 210,800 192,847 4,074 4,193 3,834 815,059 754,139 830,438 37,103 13,924 12,401 1,008,741 1,000,673 931,017 138,996 134,707 138,705 15,219 8,907 9,974 77,486 78,963 80,864 25,793 25,660 24,912 7,669 7,236 7,286 715 781 681 5,700 5,455 6,470 3,174 2,338 2,168 3,240 5,367 6,350 111,631 107,381 111,467 1,546 1,589 2,014 1,330 1,202 1,362 100,169 95,543 98,010 4,821 5,206 5,785 3,766 3,841 4,296 758,114 758,586 680,845 21,736 40,015 44,586 401,435 339,399 273,240 2,009 2,101 2,710 286,601 304,716 289,959 46,333 72,356 70,349 50,403 48,069 46,053 11,095 11,028 11,133 4,844 4,504 6,572 8,058 9,088 9,167 26,407 23,450 19,181 74,509 76,945 82,386 28,160 28,997 32,984 10,702 10,807 11,117 16,881 18,055 18,441 18,766 19,087 19,844 938,668 879,968 941,721 169,749 166,269 161,200 105,146 107,557 113,189 79,048 81,215 89,346 45,160 42,197 41,982 13,866 19,886 19,324 117,134 108,933 128,539 11,767 10,385 12,139 12,384 11,379 11,869 6,926 5,562 5,612 293,452 232,940 260,642 40,237 37,282 38,476 16,484 27,479 29,002 15,578 16,415 17,628 11,737 12,471 12,773 [Millions of dollars] Financial transactions without current-cost adjustment (outflows (+), inflows (-)) 2020 2017 2018 2019 2020 6,152,301 327,781 -157,407 28,596 234,919 422,160 16,356 15,944 34,406 16,299 3,660,470 177,180 6,369 -35,079 149,530 4,947 946 451 844 -1,173 69,539 1,481 9,801 4,553 4,358 5,629 243 1,181 95 201 9,874 -222 -1,855 -1,035 1,068 5,269 -621 -597 747 564 91,153 3,708 1,242 6,360 -1,012 162,387 4,025 5,406 16,590 10,841 74 80 149 -73 -136 13,295 541 1,284 -138 659 390,274 47,842 2,780 -82,222 21,990 31,093 388 7,468 1,905 1,642 759,360 39,283 31,538 12,413 17,554 843,954 22,491 -56,091 -11,433 27,908 21,484 34 -375 -3,811 -1,714 11,127 463 1,827 -428 297 2,538 120 217 -48 -515 12,538 -1,149 1,208 -190 127 38,533 417 -2,422 3,993 1,633 63,847 3,141 6,854 -1,940 2,136 211,936 35,815 -16,449 627 16,692 5,814 506 721 226 2,392 890,086 24,590 12,369 18,537 39,641 15,717 -6,943 -340 -650 4,375 962,400 75,140 -145,362 -13,430 28,488 140,159 -448 -3,982 2,439 6,630 8,730 1,898 -4,412 1,169 (D) 70,742 2,351 557 -350 -3,562 23,011 -1,546 397 302 -952 7,767 13 846 117 -580 29 -202 49 -34 -293 7,394 1,511 -421 1,444 1,054 1,647 -701 -963 -159 117 20,840 -3,773 -34 -51 (D) 113,001 6,511 6,854 7,954 3,157 1,988 197 234 254 201 1,111 24 -446 169 -258 101,057 5,907 6,456 6,530 3,456 4,583 349 612 513 -139 4,263 34 -2 488 -103 709,240 69,077 -148,234 -23,823 18,701 57,053 885 2,597 4,499 11,116 274,576 42,588 -149,490 -31,731 -4,189 2,806 494 195 623 117 304,816 24,604 9,334 3,635 10,042 69,990 505 -10,869 -849 1,615 47,500 534 -1,164 -3,393 2,079 11,206 -525 -516 13 -28 6,811 1,354 -291 914 171 10,023 429 201 451 -25 19,460 -724 -557 -4,771 1,961 90,124 6,812 3,513 3,888 6,560 40,437 1,235 701 3,586 7,068 11,386 519 243 210 359 19,468 3,386 946 -547 419 18,832 1,671 1,624 639 -1,286 969,647 51,759 -36,707 42,204 31,962 163,466 -621 -3,273 -3,806 3,745 123,875 7,943 6,391 7,002 9,329 92,487 1,093 611 5,066 1,733 41,904 3,623 656 2,581 881 18,715 -861 -2,978 922 -332 131,643 9,094 1,550 9,049 2,568 13,529 1,342 -674 157 1,212 12,903 469 -160 299 523 5,199 562 238 236 19 270,807 23,369 -39,799 15,279 14,609 33,888 668 -1,664 2,365 -2,039 31,544 680 339 1,113 -24 17,450 1,041 1,317 1,178 324 12,238 3,359 738 763 -586 Income without current cost adjustment 2017 518,653 24,917 292,757 346 6,018 515 451 85 3,202 6,649 134 532 62,276 1,521 42,422 79,489 1,619 869 190 1,096 2,936 3,043 29,532 622 46,875 2,336 102,641 9,599 1,811 3,338 2,069 831 127 1,092 -225 555 9,924 129 74 8,733 605 382 83,119 1,208 48,188 375 31,880 1,468 2,485 581 523 596 784 9,082 814 1,165 1,597 5,505 86,771 8,025 13,634 7,158 4,351 1,542 12,456 1,349 881 855 29,955 1,924 1,416 2,136 1,090 2018 537,331 30,315 282,555 670 6,191 386 -39 139 1,153 5,358 177 470 58,430 1,559 41,494 83,119 1,211 1,466 150 1,105 2,536 1,293 21,477 605 46,272 7,335 106,273 9,316 1,077 3,468 2,553 1,130 -54 624 50 467 10,327 143 96 9,111 578 399 86,630 3,197 43,929 362 34,340 4,802 3,561 1,105 244 493 1,720 10,370 803 969 1,399 7,200 104,256 10,245 12,970 11,023 3,889 3,129 12,633 1,412 483 428 40,981 2,791 1,397 1,625 1,252 2019 519,745 26,660 288,781 664 6,648 431 579 121 2,855 7,171 79 238 62,692 1,784 37,901 82,678 1,337 1,001 177 932 3,807 3,399 21,856 466 50,831 1,133 101,613 8,451 344 4,104 2,021 857 139 867 -368 486 11,200 197 282 9,600 726 396 81,962 3,527 40,558 339 33,776 3,761 3,784 794 674 602 1,714 8,813 1,036 872 1,429 5,475 90,094 9,081 11,023 9,893 3,689 573 12,121 1,420 466 606 34,866 2,638 966 1,402 1,350 2020 452,034 20,954 245,691 284 7,000 437 658 420 1,598 5,502 123 611 55,982 1,131 33,443 65,859 657 841 124 983 3,222 1,844 17,681 324 41,239 5,728 89,452 4,886 -157 2,109 1,430 332 65 1,005 -158 261 7,064 140 54 6,508 45 316 77,503 4,641 40,797 284 28,502 3,278 1,758 269 263 496 730 5,047 515 618 1,383 2,531 89,132 7,348 10,714 10,763 3,594 1,050 14,899 1,317 707 264 34,309 2,513 732 922 -1 All countries Canada Europe Austria Belgium Czech Republic Denmark Finland France Germany Greece Hungary Ireland Italy Luxembourg Netherlands Norway Poland Portugal Russia Spain Sweden Switzerland Turkey United Kingdom Other Latin America and Other Western Hemisphere South America Argentina Brazil Chile Colombia Ecuador Peru Venezuela Other Central America Costa Rica Honduras Mexico Panama Other Other Western Hemisphere Barbados Bermuda Dominican Republic United Kingdom Islands, Caribbean 1 Other Africa Egypt Nigeria South Africa Other Middle East Israel Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Indonesia Japan Malaysia New Zealand Philippines Singapore South Korea Taiwan Thailand Other Addendum: European Union 2 3,331,275 3,157,925 3,266,848 2,515,293 148,625 21,275 -30,794 87,722 258,148 251,554 263,940 179,915 1. The “United Kingdom Islands, Caribbean” is composed of the British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos Islands. 2. Data for the European Union (EU) reflect the EU membership during the reference period. For 2017-2019, the European Union was comprised of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom. The United Kingdom was excluded beginning with first quarter 2020. Source: U.S. Bureau of Economic Analysis –5– Table 2. U.S. Direct Investment Abroad: Selected Items by Industry of Foreign Affiliate, 2017-2020 All industries Mining Manufacturing Food Chemicals Primary and fabricated metals Machinery Computers and electronic products Electrical equipment, appliances, and components Transportation equipment Other manufacturing Wholesale trade Information Depository institutions (banking) Finance (except depository institutions) and insurance Professional, scientific, and technical services Holding companies (nonbank) Other industries Source: U.S. Bureau of Economic Analysis [Millions of dollars] Direct investment position on a Financial transactions without current-cost adjustment (outflows (+), inflows (-)) historical-cost basis 2017 2018 2019 2020 2017 2018 2019 2020 6,097,690 5,792,290 5,907,424 6,152,301 327,781 -157,407 28,596 234,919 162,908 165,305 160,105 154,291 -11,233 -3,788 -6,282 1,954 806,448 738,377 857,510 956,176 82,886 41,886 70,808 120,367 93,903 82,419 79,079 82,267 6,725 2,051 828 4,191 139,746 141,848 210,697 282,111 13,846 9,160 35,870 93,654 44,856 39,852 57,218 57,169 3,466 2,657 4,201 -235 55,776 49,844 63,380 65,437 5,202 840 2,724 1,518 144,946 122,911 139,097 148,626 27,956 12,103 9,844 10,100 18,033 16,364 18,103 25,455 1,748 777 1,248 7,313 87,292 83,444 87,195 83,137 7,995 6,053 4,365 -3,404 221,896 201,695 202,741 211,974 15,948 8,245 11,727 7,230 255,235 229,396 239,788 239,629 12,624 -19,248 18,110 -751 240,143 292,489 292,274 299,826 16,316 55,847 9,626 5,803 124,044 134,570 141,437 144,189 -4,600 -2,933 978 -5,491 781,180 894,352 877,188 874,239 37,081 99,308 -28,805 -30,404 140,179 150,399 151,013 168,341 -3,013 12,845 5,144 17,097 3,176,645 2,794,202 2,772,907 2,881,761 169,924 -353,151 -72,221 109,369 410,909 393,200 415,203 433,849 27,795 11,826 31,237 16,975 –6– Income without current cost adjustment 2017 518,653 11,495 89,883 4,732 24,831 2,642 5,691 20,041 1,785 9,699 20,461 23,036 15,043 7,467 43,766 12,365 274,507 41,090 2018 537,331 17,036 81,152 4,276 22,983 2,821 5,270 15,902 1,761 10,433 17,706 24,040 20,994 6,760 55,221 10,250 283,661 38,216 2019 519,745 12,366 73,340 3,678 23,773 2,890 3,821 14,231 1,478 6,875 16,593 24,757 19,532 3,724 54,563 16,824 271,596 43,043 2020 452,034 11,205 69,135 4,096 25,442 2,319 3,639 15,603 626 4,696 12,713 20,987 13,463 -107 50,260 13,794 238,726 34,570 Table 3. U.S. Direct Investment Abroad: Dividends by Country of Foreign Affiliate, 2017 - 2020 [Millions of dollars] 2018 2019 2020 2017 All countries 184,170 853,359 406,030 281,387 Canada 5,009 12,623 5,869 4,511 Europe 103,013 453,661 235,169 143,267 of which: Netherlands 41,607 161,530 82,904 48,254 Ireland 2,347 151,235 (D) 42,472 United Kingdom 18,896 42,245 27,280 23,787 Switzerland 17,919 40,344 7,984 7,577 Luxembourg 6,475 29,742 16,953 8,450 Latin America and Other Western Hemisphere 28,038 277,651 105,706 81,037 of which: Bermuda 8,859 230,997 67,588 59,070 United Kingdom Islands, Caribbean 3,815 15,816 21,796 9,438 Africa (D) 1,656 (D) 933 Middle East (D) 9,394 (D) 5,741 Asia and Pacific 38,127 98,374 52,666 45,899 of which: Singapore 9,163 53,153 21,379 18,400 D Suppressed to avoid disclosure of data of individual companies. 1. The “United Kingdom Islands, Caribbean” is composed of the British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos Islands. Source: U.S. Bureau of Economic Analysis Table 4. U.S. Direct Investment Abroad: Dividends by Industry of U.S. Parent, 2017 - 2020 [Millions of dollars] All Industries Mining Manufacturing Food Chemicals Primary and fabricated metals Machinery Computers and electronic products Electrical equipment, appliances, and components Transportation equipment Other manufacturing Wholesale trade Information Depository institution (banking) Finance (except depository institutions) and insurance Professional, scientific, and technical services Holding companies (nonbank) Other industries 2017 184,170 4,366 111,565 1,495 48,717 685 4,131 8,619 1,361 6,484 40,073 4,086 5,134 2,783 36,963 1,389 3,236 14,647 2018 853,359 12,612 566,750 11,606 257,906 1,784 8,468 200,065 4,590 25,447 56,884 11,672 (D) 10,987 67,313 5,451 3,348 (D) 2019 406,030 1,521 265,335 6,682 96,544 1,515 3,498 100,660 2,814 13,840 39,781 4,417 (D) 7,163 56,805 3,819 4,519 (D) Addendum: Petroleum 1 31,734 39,184 20,852 D Suppressed to avoid disclosure of data of individual companies. 1. Petroleum is composed of oil and gas extraction; support activities for oil and gas extraction; petroleum and coal products manufacturing; petroleum and petroleum products wholesale trade; gasoline stations; petroleum tanker operations; pipeline transportation of crude oil, refined petroleum products, and natural gas; and petroleum storage for hire. Source: U.S. Bureau of Economic Analysis 2020 281,387 1,620 152,763 5,373 45,736 717 3,399 55,413 2,375 7,246 32,505 3,134 (D) 7,609 47,444 4,199 2,937 (D) 22,524 Table 5. U.S. Direct Investment Position Abroad, by Industry of Affiliate and by Industry of U.S. Parent, 2017-2020 All industries Mining Manufacturing Food Chemicals Primary and fabricated metals Machinery Computers and electronic products Electrical equipment, appliances, and components Transportation equipment Other manufacturing Wholesale trade Information Depository institutions (banking) Finance (except depository institutions) and insurance Professional, scientific, and technical services Holding companies (nonbank) Other industries [Millions of dollars] 2017 2018 2019 2020 By industry of By industry of By industry of By industry of By industry of By industry of By industry of By industry of affiliate U.S. parent affiliate U.S. parent affiliate U.S. parent affiliate U.S. parent 6,097,690 6,097,690 5,792,290 5,792,290 5,907,424 5,907,424 6,152,301 6,152,301 162,908 117,082 165,305 117,613 160,105 123,013 154,291 126,063 806,448 3,406,593 738,377 3,041,944 857,510 3,033,548 956,176 3,176,818 93,903 222,042 82,419 205,006 79,079 207,189 82,267 221,166 139,746 975,413 141,848 882,275 210,697 867,050 282,111 916,292 44,856 78,199 39,852 64,070 57,218 83,448 57,169 83,869 55,776 177,533 49,844 168,319 63,380 189,909 65,437 202,699 144,946 673,183 122,911 540,473 139,097 493,444 148,626 530,278 18,033 67,944 16,364 54,954 18,103 53,853 25,455 55,576 87,292 371,845 83,444 332,260 87,195 330,369 83,137 349,887 221,896 840,433 201,695 794,588 202,741 808,286 211,974 817,049 255,235 219,999 229,396 217,695 239,788 220,338 239,629 228,548 240,143 461,992 292,489 491,973 292,274 504,273 299,826 483,516 124,044 258,252 134,570 253,587 141,437 263,817 144,189 272,148 781,180 727,462 894,352 718,990 877,188 791,194 874,239 854,336 140,179 256,764 150,399 302,340 151,013 308,820 168,341 325,823 3,176,645 98,970 2,794,202 98,934 2,772,907 117,844 2,881,761 123,497 410,909 550,575 393,200 549,215 415,203 544,578 433,849 561,553 Addendum: Petroleum 1 159,285 591,502 156,748 586,338 153,008 579,956 140,307 570,874 1. Petroleum is composed of oil and gas extraction; support activities for oil and gas extraction; petroleum and coal products manufacturing; petroleum and petroleum products wholesale trade; gasoline stations; petroleum tanker operations; pipeline transportation of crude oil, refined petroleum products, and natural gas; and petroleum storage for hire. Source: U.S. Bureau of Economic Analysis –7– Table 6. U.S. Direct Investment Position Abroad on a Historical-Cost Basis, Country by Industry of Foreign Affiliate, 2020 [Millions of dollars] Manufacturing All industries Mining Total Food Electrical Primary Computers equipment, Wholesale Depository Information and and Transportation Other Chemicals Machinery appliances, trade institutions fabricated electronic equipment manufacturing and metals products components 282,111 57,169 65,437 148,626 25,455 83,137 211,974 239,629 299,826 144,189 21,855 5,646 3,638 9,061 2,822 16,313 43,523 29,436 12,390 5,599 200,901 33,252 44,808 47,688 8,223 27,617 103,484 83,917 235,786 65,618 201 (D) 5 1,384 205 -7 220 1,100 127 13 25,420 43 866 (D) 179 714 (D) 4,497 669 (D) 1,324 204 127 379 98 130 (D) 199 288 0 146 (D) 466 321 8 0 (D) 1,764 868 -4 69 (D) (D) 131 95 (*) 643 286 1,239 (D) 16,142 5,407 1,003 1,538 1,032 439 6,706 7,011 1,567 604 8,737 1,860 6,552 5,158 999 -1,395 8,290 17,496 5,332 (D) 175 (*) 18 (D) 3 0 236 174 -12 (D) -4 19 -56 -229 -10 886 (D) 556 1,473 (D) 52,422 202 1,495 2,312 (D) 35 (D) 1,792 77,448 (D) 2,569 1,222 3,299 1,850 (D) 524 (D) 3,828 2,225 62 (D) (D) 758 20 (D) (D) 5,237 -2,187 -33 7,190 40,706 662 14,642 8,057 68 6,250 29,759 13,636 27,280 (D) 666 12 236 167 (D) (D) 290 543 2,648 -3 435 199 (D) 138 (D) 3,253 493 321 159 (D) 97 41 -20 50 -2 218 (D) 739 139 0 502 (D) 204 728 (D) (D) 1,744 2,018 1,148 (D) 2,255 274 862 506 (D) 5,609 (D) 3,394 -231 914 (D) (D) 177 2,263 (D) 174 3,594 3,262 1,858 0 23,895 1,786 5,904 4,593 588 (D) 10,145 12,217 13,361 6,952 91 (D) 9 (D) -1 262 628 686 (D) 159 20,801 15,500 7,086 15,325 1,024 6,013 6,734 9,399 96,785 8,843 -43 532 83 82 (D) 445 488 1,188 (D) (D) Finance (except Professional, Holding depository scientific, and Other companies institutions) technical industries (nonbank) and services insurance 874,239 168,341 2,881,761 433,849 72,337 8,816 114,929 53,970 383,746 101,937 1,987,561 273,138 90 193 833 (D) 9,579 1,990 865 (D) 30 178 (D) (D) (D) -357 2,344 1,268 -5 748 (D) (D) 15,461 2,460 14,014 10,359 13,181 10,101 55,574 (D) -120 16 (*) (D) 577 59 (D) (D) -11,816 8,146 140,001 (D) 2,625 1,014 1,826 3,677 47,743 488 656,127 (D) 51,704 9,324 620,999 (D) 280 269 8,415 1,642 436 461 1 (D) (D) 272 (D) 793 754 745 460 692 2,422 3,855 10,752 (D) 8,730 2,720 32,867 (D) 5,059 2,965 98,984 24,765 -6 (D) (*) 486 233,321 51,865 332,610 58,272 1,580 (D) -145 4,255 All countries 6,152,301 154,291 956,176 82,267 Canada 422,160 14,502 110,181 7,323 Europe 3,660,470 18,643 510,123 44,151 Austria 4,947 (D) 2,562 (D) Belgium 69,539 (D) 43,391 1,612 Czech Republic 5,629 0 4,336 (D) Denmark 9,874 (D) 2,336 261 Finland 5,269 0 1,675 (D) France 91,153 34 39,642 7,375 Germany 162,387 (D) 32,708 2,507 Greece 74 0 516 (D) Hungary 13,295 (D) 845 (D) Ireland 390,274 94 64,856 611 Italy 31,093 450 15,386 1,793 Luxembourg 759,360 (D) 9,367 2 Netherlands 843,954 1,584 99,531 -615 Norway 21,484 5,836 1,852 323 Poland 11,127 (D) 7,323 1,522 Portugal 2,538 0 354 (D) Russia 12,538 (D) 5,450 195 Spain 38,533 (D) 15,064 1,361 Sweden 63,847 (D) 13,481 1,321 Switzerland 211,936 388 47,244 (D) Turkey 5,814 (D) 1,784 (D) United Kingdom 890,086 1,665 97,326 24,842 Other 15,717 2,086 3,094 (D) Latin America and Other Western Hemisphere 962,400 48,309 79,665 8,204 12,886 8,889 3,970 6,793 2,708 15,577 20,638 42,228 19,018 20,740 272,513 7,445 441,981 30,501 South America 140,159 31,219 29,517 3,342 8,231 5,505 985 4,093 355 716 6,291 6,135 7,536 (D) 21,466 3,478 26,901 (D) Argentina 8,730 761 941 -175 910 (D) 80 (D) 12 828 -76 426 2,139 (D) 911 351 1,492 (D) Brazil 70,742 10,986 19,891 2,936 4,144 5,178 739 3,913 224 -991 3,749 3,000 4,549 2,435 13,583 1,855 8,940 5,503 Chile 23,011 6,813 5,677 28 2,445 (D) 61 779 (D) (D) 1,486 1,376 264 (D) 5,168 735 (D) 1,424 Colombia 7,767 2,887 1,610 212 688 (D) 11 150 21 (D) 670 402 316 (D) 994 650 -77 (D) Ecuador 29 151 -51 (D) -340 (D) 2 7 (*) (D) -20 249 (D) (D) 251 (D) -4 -4 Peru 7,394 4,901 572 127 97 (*) 42 (D) 10 (*) (D) 343 37 (D) 218 (D) (D) 386 Venezuela 1,647 24 825 (D) 327 4 44 (D) 18 (D) 156 (D) -60 0 (D) 390 65 188 Other 20,840 4,696 53 -1 -41 0 6 18 (D) 2 (D) (D) (D) (D) (D) (D) (D) (D) Central America 113,001 11,402 44,064 4,650 4,433 (D) (D) 1,614 2,349 14,898 12,300 5,098 2,767 (D) 15,378 436 19,288 (D) Costa Rica 1,988 0 902 25 52 5 1 270 241 1 306 138 4 (D) (D) 109 (D) 163 Honduras 1,111 0 668 (D) 1 0 0 (D) (*) (D) (D) -160 4 (D) (D) 2 0 234 Mexico 101,057 11,194 40,886 4,571 4,209 2,975 831 1,165 2,105 (D) (D) 4,418 2,720 916 13,940 255 15,758 10,971 Panama 4,583 208 236 16 (D) 2 6 (D) 3 0 109 674 14 (D) 332 57 3,464 (D) Other 4,263 (*) 1,372 (D) (D) (D) (D) (D) 0 (*) (D) 28 26 (D) 410 14 (D) (D) Other Western Hemisphere 709,240 5,689 6,084 212 222 (D) (D) 1,086 4 -36 2,047 30,994 8,716 12,263 235,669 3,530 395,792 10,502 Barbados 57,053 11 140 (D) 7 0 5 9 0 (*) (D) (D) 3 0 27,380 (D) 18,233 (D) Bermuda 274,576 212 2,738 -1 (D) 0 (D) (D) 0 (D) 52 (D) 5,787 222 68,216 (D) 173,715 -609 Dominican Republic 2,806 0 2,206 (D) -6 (D) (*) (*) (*) 0 2,018 54 66 (D) 9 -20 8 (D) United Kingdom Islands, Caribbean 1 304,816 1,206 826 0 114 12 (D) (D) 4 (D) -137 785 2,819 (D) 99,922 -402 189,633 (D) Other 69,990 4,260 173 (D) (D) (D) (*) 5 0 0 (D) (D) 40 (D) 40,143 (D) 14,203 (D) Africa 47,500 15,273 8,363 4,407 496 134 577 129 (D) (D) (D) 3,044 524 (D) 4,378 1,946 7,927 (D) Egypt 11,206 (D) 953 543 25 (D) 18 (D) -3 4 156 724 51 (D) 33 35 (D) 55 Nigeria 6,811 2,603 1,416 (D) (D) 0 (D) 28 0 0 108 97 209 (D) (D) (*) (D) -1 South Africa 10,023 -163 5,199 2,504 612 -46 349 -40 (D) 1,046 (D) 795 205 (D) 697 518 1,196 (D) Other 19,460 (D) 795 (D) (D) (D) (D) (D) (D) (D) 370 1,428 59 (D) (D) 1,392 (D) 2,324 Middle East 90,124 20,874 35,159 712 2,206 868 752 20,891 (D) (D) (D) 4,760 2,603 (D) 2,108 4,680 13,725 (D) Israel 40,437 374 32,410 (D) 451 16 420 21,454 (D) (D) (D) 1,508 2,200 (D) 48 1,953 (D) 628 Saudi Arabia 11,386 724 101 (D) 451 41 (D) (D) 0 (D) (D) 1,222 35 (D) (D) 502 8,157 412 United Arab Emirates 19,468 8,054 997 (D) (D) (D) 244 (D) 1 (*) 150 2,092 289 (D) 1,127 1,938 9 (D) Other 18,832 11,722 1,650 (D) (D) (D) (D) (D) 0 0 (D) -61 78 (D) (D) 287 (D) -131 Asia and Pacific 969,647 36,689 212,685 17,470 43,767 8,379 11,692 64,064 3,891 22,208 41,213 76,244 29,505 47,503 139,157 43,518 315,639 68,707 Australia 163,466 15,279 18,694 6,482 1,330 1,398 1,481 2,157 59 1,820 3,967 5,755 5,818 441 18,937 11,693 78,946 7,902 China 123,875 1,199 60,622 2,870 14,328 2,482 4,449 13,790 721 13,504 8,478 17,022 2,098 5,910 10,294 4,771 4,355 17,603 Hong Kong 92,487 0 9,664 57 2,093 1,115 465 3,945 654 12 1,323 4,911 8,046 2,822 6,551 3,348 56,835 310 India 41,904 -408 9,261 419 2,614 160 1,364 1,019 692 337 2,655 4,362 1,956 (D) 6,260 16,321 380 (D) Indonesia 18,715 13,945 503 889 -400 -3 -27 (D) (D) (D) 82 56 194 (D) 484 548 302 (D) Japan 131,643 0 31,305 633 9,281 765 759 5,469 387 2,721 11,289 9,881 8,940 385 63,975 3,579 2,339 11,240 Malaysia 13,529 340 5,021 (D) 446 240 95 2,622 (D) 652 (D) 1,738 312 (D) 1,594 223 2,632 (D) New Zealand 12,903 28 2,206 (D) 242 29 245 324 (*) (D) (D) 930 391 (D) 2,022 237 (D) (D) Philippines 5,199 1 2,868 (D) 318 (D) (D) 1,467 (D) (D) 462 433 21 (D) 311 661 (D) 313 Singapore 270,807 1,106 40,637 2,263 4,875 858 2,004 23,463 580 1,903 4,690 23,198 -1,755 1,730 20,250 1,192 162,511 21,938 South Korea 33,888 (D) 12,049 605 4,961 428 324 3,223 81 -639 3,065 4,100 1,981 (D) 2,885 681 -64 (D) Taiwan 31,544 0 6,250 24 272 183 154 5,106 200 -146 457 2,438 1,364 (D) 4,037 -64 671 (D) Thailand 17,450 (D) 11,533 1,349 3,183 (D) 390 1,751 -2 1,876 (D) 1,005 80 (D) 465 505 (D) 851 Other 12,238 (D) 2,073 404 223 (D) (D) (D) 1 (D) 893 416 57 (D) 1,092 -177 127 4,279 Addendum: European Union 2 2,515,293 9,261 355,974 19,272 154,948 14,245 31,338 26,500 6,506 19,256 83,909 58,539 120,955 48,728 142,904 43,134 1,549,568 186,231 * A nonzero value that rounds to zero D Suppressed to avoid disclosure of data of individual companies. 1. The “United Kingdom Islands, Caribbean” is composed of the British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos Islands. 2. Data for the European Union (EU) reflect the EU membership during the reference period. For 2017-2019, the European Union was comprised of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom. The United Kingdom was excluded beginning with first quarter 2020. Source: U.S. Bureau of Economic Analysis –8– Table 7. Foreign Direct Investment in the United States: Selected Items by Country of Foreign Parent, 2017–2020 Direct investment position on a historical-cost basis [Millions of dollars] Financial transactions without current-cost adjustment (inflows (+), outflows (-)) Income without current-cost adjustment 2017 3,952,314 2018 4,179,984 2019 4,439,255 2020 4,626,452 2017 308,957 2018 203,234 2019 225,108 2020 150,828 2017 176,632 2018 203,687 2019 200,024 2020 151,811 422,067 447,276 480,369 490,769 71,025 29,132 33,189 18,208 23,008 27,300 27,786 19,480 2,646,874 13,473 82,968 17,707 6,784 258,485 2,793,000 11,618 73,102 19,703 14,221 255,016 2,827,081 14,434 71,438 23,114 14,469 267,066 2,946,236 15,671 74,555 30,660 15,144 285,078 173,688 2,417 -2,201 271 666 15,406 100,014 -2,657 2,505 1,867 1,457 992 93,070 2,858 1,746 3,140 248 13,498 87,327 987 3,992 7,267 650 14,005 118,652 884 2,799 1,437 322 11,033 132,961 1,196 1,898 1,739 821 12,208 127,755 976 1,438 1,824 1,053 11,340 97,506 1,065 1,770 2,103 1,342 13,497 Germany Ireland Italy Luxembourg Netherlands Norway 298,208 175,774 26,345 400,793 376,413 33,722 320,457 276,963 27,606 333,774 448,285 37,048 351,283 239,127 30,023 317,541 467,373 34,413 411,308 240,119 31,631 316,778 483,991 30,352 18,291 31,039 1,206 29,121 24,644 1,664 22,358 67,432 1,489 -121,699 78,306 4,599 27,383 -3,160 1,489 2,947 3,409 833 16,470 2,863 1,604 -5,528 29,027 -1,601 20,869 9,677 781 15,698 13,503 700 22,623 9,023 1,539 16,539 20,721 2,466 20,421 8,209 1,354 13,148 19,753 1,218 18,252 7,988 983 9,561 10,813 -1,093 Spain Sweden Switzerland United Kingdom Other 81,255 48,244 264,455 510,587 51,662 86,884 46,361 291,862 489,179 60,922 90,093 49,510 278,553 501,348 77,297 88,423 55,404 300,276 486,879 79,967 3,408 399 -2,922 47,838 2,439 6,319 1,819 28,188 -2,796 9,835 2,926 4,426 11,544 15,679 4,103 1,350 5,590 7,548 2,126 979 1,733 2,682 13,779 20,979 1,776 2,834 3,701 20,295 14,808 551 1,796 3,472 19,615 19,276 2,864 1,832 3,667 11,134 11,877 2,716 125,522 148,772 196,473 222,730 -4,083 41,147 32,537 6,338 3,591 7,156 8,633 7,520 South and Central America Brazil Mexico Panama Venezuela Other 26,786 487 18,636 2,260 1,652 3,751 30,919 3,350 18,481 2,615 1,697 4,776 42,376 5,912 18,450 2,807 1,677 13,530 45,883 6,857 20,850 2,871 1,386 13,918 1,503 -524 2,729 -339 -30 -334 4,735 2,986 260 355 758 376 2,749 2,668 -263 144 128 71 2,163 417 1,846 64 (D) (D) 1,486 60 1,341 -10 236 -141 2,557 109 1,388 119 (D) (D) 3,422 1,084 1,649 122 (D) (D) 2,908 148 2,505 112 (D) (D) Other Western Hemisphere Bahamas Bermuda Curacao United Kingdom Islands, Caribbean 1 Other 98,736 687 -3,959 1,290 91,098 9,619 117,853 984 16,682 1,328 90,769 8,089 154,097 1,540 44,407 1,059 97,199 9,891 176,847 1,944 50,652 1,161 111,809 11,280 -5,587 179 -17,225 -101 7,541 4,019 36,411 349 31,970 27 5,102 -1,037 29,789 555 19,978 -124 7,415 1,965 4,175 111 5,322 10 -1,056 -211 2,105 45 914 -85 825 407 4,599 110 1,893 7 2,056 533 5,211 110 2,642 -45 1,886 618 4,613 78 2,624 -122 1,567 467 4,837 3,096 1,742 5,049 3,121 1,927 9,008 2,966 6,042 9,328 3,474 5,854 939 569 370 223 12 211 3,944 -165 4,109 426 481 -54 105 -63 169 204 41 163 327 248 79 544 (D) (D) 31,750 10,457 1,325 15 6,149 11,341 2,462 37,827 12,248 1,464 9 7,738 14,795 1,573 41,560 13,539 1,448 4 7,273 17,422 1,875 42,497 15,227 1,422 1 6,262 17,265 2,320 5,030 112 -10 -14 190 4,265 488 4,936 1,631 158 -6 592 3,450 -889 3,320 619 -138 -6 -479 3,024 299 595 1,279 7 -3 (D) -118 (D) 1,613 369 -9 -8 (D) 482 (D) 1,136 186 3 -5 (D) 522 (D) 950 100 -122 -2 76 834 64 77 364 (D) -1 (D) 884 (D) 721,264 76,506 36,447 14,989 5,483 487,997 1,345 2,246 24,503 55,568 11,606 4,574 748,061 74,146 35,437 15,115 4,518 514,234 1,021 3,211 24,598 57,998 13,840 3,940 884,763 89,066 39,643 15,211 4,169 634,160 778 3,651 26,248 55,747 12,104 3,986 914,893 97,963 37,995 16,547 1,874 647,718 863 3,408 27,257 63,668 13,746 3,855 62,359 -1,680 2,211 786 894 45,520 499 79 816 13,332 843 -943 27,783 119 320 3,309 -1,072 20,817 448 345 477 1,787 1,876 -644 59,048 14,182 4,315 592 -170 35,283 -284 248 2,345 4,203 -1,746 81 37,933 7,237 -1,400 796 -179 23,139 138 533 897 5,290 1,661 -181 29,663 -833 209 -90 103 27,183 -31 33 688 1,674 614 113 34,929 2,206 1,271 970 133 26,215 (*) 388 1,309 1,654 776 6 34,573 2,421 1,197 652 -212 27,000 -44 334 852 1,691 546 136 26,684 2,158 115 411 122 20,542 -95 675 480 1,922 330 25 All countries Canada Europe Austria Belgium Denmark Finland France Latin America and Other Western Hemisphere Africa South Africa Other Middle East Israel Kuwait Lebanon Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Japan Malaysia New Zealand Singapore South Korea Taiwan Other Addendum: European Union 2 2,329,177 2,442,581 2,492,296 2,106,289 174,344 65,168 80,509 78,756 103,175 109,144 106,090 74,987 * A nonzero value that rounds to zero D Suppressed to avoid disclosure of data of individual companies. 1. The “United Kingdom Islands, Caribbean” is composed of the British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos Islands. 2. Data for the European Union (EU) reflect the EU membership during the reference period. For 2017-2019, the European Union was comprised of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom. The United Kingdom was excluded beginning with first quarter 2020. Source: U.S. Bureau of Economic Analysis –9– Table 8. Foreign Direct Investment Position in the United States on a Historical-Cost Basis, by Country of Foreign Parent and of the Ultimate Beneficial Owner, 2017-20201 2017 [Millions of dollars] 2018 2019 2020 By country of By country of By country of By country of By country of By country of By country of By country of ultimate each member ultimate each member ultimate each member ultimate each member beneficial of the foreign beneficial of the foreign beneficial of the foreign beneficial of the foreign owner parent group owner parent group owner parent group owner parent group All countries 3,952,314 3,952,314 4,179,984 4,179,984 4,439,255 4,439,255 4,626,452 4,626,452 422,067 493,193 447,276 534,800 480,369 563,611 490,769 569,788 2,646,874 13,473 82,968 17,707 6,784 258,485 2,250,064 11,527 54,925 18,464 8,946 276,789 2,793,000 11,618 73,102 19,703 14,221 255,016 2,449,723 12,792 61,382 20,435 9,774 279,068 2,827,081 14,434 71,438 23,114 14,469 267,066 2,483,997 13,548 63,575 24,036 9,846 295,743 2,946,236 15,671 74,555 30,660 15,144 285,078 2,529,907 17,184 66,434 31,491 10,046 314,979 Germany Ireland Italy Luxembourg Netherlands Norway 298,208 175,774 26,345 400,793 376,413 33,722 394,396 275,664 30,371 30,730 197,696 35,000 320,457 276,963 27,606 333,774 448,285 37,048 470,806 351,891 33,286 32,519 205,459 37,561 351,283 239,127 30,023 317,541 467,373 34,413 496,984 379,474 37,110 33,567 216,015 35,120 411,308 240,119 31,631 316,778 483,991 30,352 564,294 296,425 37,871 39,609 236,298 31,059 Spain Sweden Switzerland United Kingdom Other 81,255 48,244 264,455 510,587 51,662 83,196 49,060 157,245 608,289 17,764 86,884 46,361 291,862 489,179 60,922 88,354 49,813 190,531 586,094 19,958 90,093 49,510 278,553 501,348 77,297 90,534 54,302 210,025 504,189 19,928 88,423 55,404 300,276 486,879 79,967 88,660 59,609 235,311 480,787 19,849 125,522 175,416 148,772 192,651 196,473 217,242 222,730 224,833 South and Central America Brazil Mexico Panama Venezuela Other 26,786 487 18,636 2,260 1,652 3,751 100,094 48,617 37,715 662 1,899 11,200 30,919 3,350 18,481 2,615 1,697 4,776 103,655 47,461 40,493 722 1,886 13,094 42,376 5,912 18,450 2,807 1,677 13,530 105,523 48,319 39,661 799 1,934 14,810 45,883 6,857 20,850 2,871 1,386 13,918 104,051 44,676 42,129 811 1,671 14,764 Other Western Hemisphere Bahamas Bermuda Curacao United Kingdom Islands, Caribbean 2 Other 98,736 687 -3,959 1,290 91,098 9,619 75,322 (D) 34,443 (D) 21,306 (D) 117,853 984 16,682 1,328 90,769 8,089 88,996 (D) 44,203 (D) 25,400 (D) 154,097 1,540 44,407 1,059 97,199 9,891 111,720 (D) 63,894 (D) 27,181 (D) 176,847 1,944 50,652 1,161 111,809 11,280 120,781 (D) 71,103 (D) 28,633 (D) 4,837 3,096 1,742 4,995 4,037 959 5,049 3,121 1,927 5,184 4,225 959 9,008 2,966 6,042 5,059 4,051 1,008 9,328 3,474 5,854 5,477 4,443 1,034 31,750 10,457 1,325 15 6,149 11,341 2,462 90,024 39,063 1,509 465 14,814 30,463 3,709 37,827 12,248 1,464 9 7,738 14,795 1,573 91,595 37,939 1,674 504 15,112 33,350 3,016 41,560 13,539 1,448 4 7,273 17,422 1,875 89,314 33,811 1,593 516 14,017 35,220 4,156 42,497 15,227 1,422 1 6,262 17,265 2,320 91,071 29,181 1,563 506 10,655 44,725 4,442 721,264 76,506 36,447 14,989 5,483 487,997 1,345 2,246 24,503 55,568 11,606 4,574 844,134 80,891 63,220 16,166 6,669 498,893 2,370 2,234 98,412 54,109 16,841 4,328 748,061 74,146 35,437 15,115 4,518 514,234 1,021 3,211 24,598 57,998 13,840 3,940 827,097 78,788 51,599 17,321 6,274 522,315 2,824 3,152 64,658 56,783 18,986 4,398 884,763 89,066 39,643 15,211 4,169 634,160 778 3,651 26,248 55,747 12,104 3,986 990,348 93,451 53,708 18,627 12,755 663,400 2,361 3,585 65,428 54,778 17,763 4,490 914,893 97,963 37,995 16,547 1,874 647,718 863 3,408 27,257 63,668 13,746 3,855 1,021,517 101,594 54,868 18,337 12,698 679,000 -92 3,397 65,207 62,401 19,687 4,420 Canada Europe Austria Belgium Denmark Finland France Latin America and Other Western Hemisphere Africa South Africa Other Middle East Israel Kuwait Lebanon Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Japan Malaysia New Zealand Singapore South Korea Taiwan Other United States -----------94,487 -----------78,932 -----------89,683 -----------183,859 D Suppressed to avoid disclosure of data of individual companies. 1. The ultimate beneficial owner (UBO) is the person or entity, proceeding up a U.S. affiliate's ownership chain, beginning with the foreign parent, that is not owned more than 50 percent by another entity. The UBO ultimately owns or controls, and thus ultimately derives the benefits and assumes the risks from owning or controlling, an affiliate. The country of the UBO is often the same as that of the foreign parent, but it may be a different country or the United States. 2. The “United Kingdom Islands, Caribbean” is composed of the British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos Islands. Source: U.S. Bureau of Economic Analysis –10– Table 9. Foreign Direct Investment in the United States: Selected Items by Industry of U.S. Affiliate, 2017–2020 All industries Manufacturing Food Chemicals Primary and fabricated metals Machinery Computers and electronic products Electrical equipment, appliances, and components Transportation equipment Other manufacturing Wholesale trade Retail trade Information Depository institutions (banking) Finance (except depository institutions) and insurance Real estate and rental and leasing Professional, scientific, and technical services Other industries Source: U.S. Bureau of Economic Analysis [Millions of dollars] Financial transactions without current-cost adjustment Direct investment position on a historical-cost basis (inflows (+); outflows (-)) 2017 2018 2019 2020 2017 2018 2019 2020 3,952,314 4,179,984 4,439,255 4,626,452 308,957 203,234 225,108 150,828 1,595,788 1,719,274 1,805,020 1,866,756 148,068 143,429 93,366 75,266 103,617 110,666 114,773 112,510 23,813 11,427 3,601 -3,804 635,661 705,532 738,636 775,448 51,208 89,354 49,461 45,732 66,436 71,868 78,540 83,843 866 3,569 2,913 3,831 112,205 103,054 98,283 103,382 6,119 -5,078 -1,980 3,361 106,636 115,449 119,719 135,876 13,332 10,083 9,881 14,087 41,404 56,144 63,492 65,339 2,837 8,350 1,696 1,883 128,352 136,869 149,471 155,341 8,219 7,666 7,516 4,670 401,476 419,692 442,107 435,017 41,674 18,058 20,278 5,505 432,749 447,112 475,509 515,010 57,477 12,611 30,730 36,720 81,837 136,206 141,790 147,906 6,747 57,058 6,013 6,266 197,266 208,932 216,525 243,163 3,392 12,061 36 965 209,485 226,657 230,844 239,567 7,286 8,552 650 6,028 470,656 467,449 514,625 564,555 25,584 35,212 16,255 19,279 136,172 156,992 161,948 161,889 22,754 21,830 6,426 7,966 193,718 182,920 204,368 207,238 14,427 -100,057 14,677 2,058 634,644 634,441 688,626 680,369 23,221 12,538 56,956 -3,719 –11– Income without current-cost adjustment 2017 176,632 91,626 7,271 35,830 3,550 5,770 1,842 2,960 11,877 22,526 18,992 4,737 5,047 10,437 19,201 5,522 3,672 17,398 2018 203,687 93,157 6,403 31,157 5,687 7,289 2,550 4,337 10,047 25,688 26,262 6,243 7,581 11,357 24,994 4,123 3,259 26,710 2019 200,024 80,523 6,452 29,600 3,046 6,123 2,935 1,867 8,425 22,075 25,419 7,139 8,240 8,601 33,713 5,651 4,358 26,379 2020 151,811 62,561 6,142 22,204 1,466 6,263 3,357 1,389 5,706 16,035 19,743 6,578 5,384 7,163 26,519 4,445 3,541 15,878 Table 10. Foreign Direct Investment Position in the United States on a Historical-Cost Basis, Country by Industry of U.S. Affiliate, 2020 Manufacturing All industries All countries Total Food Chemicals Primary and fabricated metals Machinery [Millions of dollars] Electrical Computers and Transportation equipment, electronic appliances, and equipment products components Other manufacturing Wholesale trade Retail trade Information Depository institutions Finance (except Real estate and depository rental and institutions) leasing and insurance Professional, scientific, and technical services Other industries 4,626,452 1,866,756 112,510 775,448 83,843 103,382 135,876 65,339 155,341 435,017 515,010 147,906 243,163 239,567 564,555 161,889 207,238 680,369 490,769 72,500 7,946 20,090 11,567 484 2,204 259 6,228 23,723 57,616 21,965 8,631 87,171 94,651 22,976 4,098 121,162 2,946,236 15,671 74,555 30,660 15,144 285,078 1,373,542 6,466 60,752 9,525 11,234 136,499 78,885 (D) (D) 453 (D) 15,157 594,368 2 15,203 1,838 (D) 79,416 55,137 1,693 (D) (D) (D) 2,554 83,301 1,262 (D) (D) 2,985 329 93,522 (D) (D) (D) (D) 1,314 58,208 2 (D) (D) (D) (D) 88,202 16 (D) (*) (D) 11,514 321,919 (D) (D) 1,172 1,137 (D) 226,239 (D) 4,767 14,271 2,208 26,184 108,640 (D) 1 (D) (D) 2,353 209,056 (D) (D) -14 (D) 27,199 96,616 (D) (D) 0 (D) 28,150 311,884 (D) 1 (D) (*) 15,764 57,768 (D) 110 -17 5 2,354 164,797 10 189 44 -248 13,959 397,695 (D) 8,404 6,201 (D) 32,616 Germany Ireland Italy Luxembourg Netherlands Norway 411,308 240,119 31,631 316,778 483,991 30,352 135,034 76,065 15,071 203,374 301,003 (D) 346 2,349 1,059 (D) -1,905 1 28,686 35,222 1,962 (D) 119,734 97 4,054 13,735 499 1,693 1,631 (D) 15,250 (D) 2,320 (D) 21,620 44 21,588 10 3,222 (D) 33,976 (D) 888 (D) 129 (D) 34,035 9 37,584 -485 (D) -409 7,500 (D) 26,639 (D) (D) 61,550 84,412 (D) 52,887 8,067 2,620 20,561 33,497 (D) (D) (D) 4,533 (D) 7,750 3 (D) (D) 135 19,975 7,413 1 25,640 (D) (D) (D) (D) (D) 50,646 21,972 (D) 15,808 53,740 (D) 14,975 (D) 402 2,600 4,430 (D) (D) 42,177 (D) 2,640 38,715 (D) 28,548 34,090 5,389 (D) (D) (D) Spain Sweden Switzerland United Kingdom Other 88,423 55,404 300,276 486,879 79,967 11,947 41,300 152,743 176,359 (D) 2,434 3 (D) (D) 9,839 (D) 18,724 92,739 83,794 10,390 (D) 8,086 2,001 13,324 2,120 (D) 1,933 519 8,737 -190 12 159 466 9,641 129 (D) (D) (D) 371 114 (D) (D) -51 20,319 3,859 1,972 5,474 18,438 (D) (D) 956 5,216 7,701 31,245 (D) (D) 133 10,801 12,207 798 (D) -812 13,202 51,604 2,061 (D) (D) (D) (D) (D) (D) 1,794 (D) 30,272 1,773 (D) 654 1,533 10,619 (D) (D) (D) 4,139 29,104 587 29,724 2,848 29,530 (D) 17,863 222,730 46,151 17,830 7,225 2,779 -125 8,500 (D) -394 (D) 21,350 1,984 7,862 9,152 34,167 40,629 5,397 56,039 45,883 6,857 20,850 2,871 1,386 13,918 10,140 1,784 5,265 (D) (D) 951 (D) (D) 4,024 (*) -8 48 -988 -282 -168 (D) (*) (D) (D) 28 814 -6 (D) (D) 42 7 114 (D) 2 (D) -94 -24 -28 (*) 0 -43 -31 -26 20 (*) (*) -24 -23 428 -375 (*) 0 -75 (D) (D) 863 (D) (D) 360 2,090 222 1,528 150 25 165 231 -5 136 18 (D) (D) 686 26 504 (*) -2 158 8,670 3,737 (D) (D) (D) 3,768 1,201 766 292 35 (D) (D) 1,683 189 798 532 35 129 182 47 42 22 -2 73 21,000 92 (D) 644 (D) (D) 176,847 1,944 50,652 1,161 111,809 11,280 36,011 (D) (D) (D) 18,500 (D) (D) 2 (D) (D) (D) (D) 8,213 (D) -144 (D) (D) (D) (D) (D) 0 0 (D) (D) -167 0 3 (*) -170 (*) 8,594 2 (D) 3 (D) 2 (D) (D) 1 0 (D) 1 -372 (D) 0 0 -413 (D) 4,552 (D) 2,046 (D) 2,273 (D) 19,260 (D) -468 (D) 18,909 686 1,753 0 (D) (D) 1,631 (D) 7,175 3 (D) (*) (D) -99 482 (D) 0 (D) 3 (D) 32,966 (D) -3,729 (D) 35,882 (D) 38,947 804 (D) 362 14,136 (D) 5,214 (D) (D) (D) 1,262 105 35,039 901 17,597 230 (D) (D) 9,328 3,474 5,854 6,436 (D) (D) (D) -5 (D) (D) (D) (D) (D) 1 (D) -49 (D) (D) (D) (D) 0 (D) (D) (D) (D) (D) (D) (D) -4 (D) (D) 24 (D) 1 1 0 -48 2 -50 (D) 0 (D) -3 (D) (D) 697 (D) (D) 290 -13 302 1,876 (D) (D) 42,497 15,227 1,422 1 6,262 17,265 2,320 23,406 7,104 (D) (*) (D) (D) (D) (D) (D) 0 0 0 (D) 0 (D) 5,813 (D) 0 -3 -12 (D) (D) 46 (*) 0 (D) -3 0 -117 (D) 0 0 (D) (D) (D) (D) (D) (D) 0 (*) (*) 0 -5 18 1 0 (D) (D) 0 (D) (D) 4 0 (D) (D) 0 (D) 153 -1 (*) (D) (D) -2 (D) 460 (*) (D) (D) 3 (D) -56 (D) 0 (D) (D) (D) 1 1,861 1,972 (*) (D) 7 (D) (D) (D) 2,478 (D) 0 (D) (D) -108 903 (D) (*) 0 (D) (D) (*) 4,807 2,973 1,191 (D) (D) 560 40 -198 -68 (D) -3 -143 7 (D) 3,763 (D) (D) 0 55 (D) (D) 914,893 97,963 37,995 16,547 1,874 647,718 863 3,408 27,257 63,668 13,746 3,855 344,721 24,929 5,010 1,135 2,399 285,921 228 1,652 8,603 9,395 4,641 810 7,806 (D) -4 39 (D) 5,590 3 (D) 17 594 (D) 663 141,377 (D) -35 666 1,458 126,333 (D) -1 -22 (D) 3,841 -29 14,462 2,738 530 100 12 9,650 (*) 1 (D) 1,345 (D) (D) 19,887 -156 1,012 -47 (D) 17,777 (D) (D) (D) (D) (D) (D) 31,201 (D) 141 139 (D) 23,591 (D) (D) (D) 29 230 (D) (D) -8 506 69 18 2,459 (*) (D) 466 (D) (D) 36 59,492 -16 1,406 257 43 54,479 2 (D) 482 2,419 -16 (D) (D) 15,962 1,454 -87 (D) 46,041 68 (D) (D) -165 312 113 204,333 2,607 7,288 4,157 57 136,712 47 402 1,981 47,440 2,924 718 15,372 39 (D) 172 (D) 11,198 (*) 1 579 (D) (D) (*) 15,801 199 3,378 278 75 11,505 3 14 125 25 186 11 44,012 2,559 2,981 1,478 2,077 30,128 (D) 0 938 1,322 1,999 (D) 122,954 4,176 (D) -42 (D) 106,089 (D) (D) (D) 722 (D) (D) 35,012 1,421 (D) 2,855 10 25,362 (D) (D) 946 328 79 (D) 32,855 12,428 199 1,701 2,509 14,912 15 -129 1,074 221 -53 -22 99,834 49,606 13,731 4,812 (D) 25,891 -11 (D) (D) (D) (D) (D) Canada Europe Austria Belgium Denmark Finland France Latin America and Other Western Hemisphere South and Central America Brazil Mexico Panama Venezuela Other Other Western Hemisphere Bahamas Bermuda Curacao 1 United Kingdom Islands, Caribbean Other Africa South Africa Other Middle East Israel Kuwait Lebanon Saudi Arabia United Arab Emirates Other Asia and Pacific Australia China Hong Kong India Japan Malaysia New Zealand Singapore South Korea Taiwan Other Addendum: European Union 2 2,106,289 1,036,415 42,135 414,548 36,174 74,045 83,446 (D) 67,901 (D) 172,924 85,551 144,309 75,355 185,398 44,565 130,912 230,860 * A nonzero value that rounds to zero D Suppressed to avoid disclosure of data of individual companies. 1. The “United Kingdom Islands, Caribbean” is composed of the British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos Islands. 2. Data for the European Union (EU) reflect the EU membership during the reference period. For 2017-2019, the European Union was comprised of Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden, and the United Kingdom. The United Kingdom was excluded beginning with first quarter 2020. Source: U.S. Bureau of Economic Analysis –12–
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