Full text of Bureau of Economic Analysis (BEA) News Releases : Direct Investment by Country and Industry, 2021, BEA 22-34 : Full Release

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EMBARGOED UNTIL RELEASE AT 8:30 a.m., Thursday, July 21, 2022

BEA 22–34

Technical:

Ryan Smith

(301) 278-9246

Ryan.Smith@bea.gov

Media:

Connie O’Connell

(301) 278-9003

Connie.OConnell@bea.gov

Direct Investment by Country and Industry, 2021
The U.S. direct investment abroad position, or cumulative level of investment, increased $403.3 billion
to $6.49 trillion at the end of 2021 from $6.09 trillion at the end of 2020, according to statistics released
today by the U.S. Bureau of Economic Analysis (BEA). The increase reflected a $352.6 billion increase in
the position in Europe, primarily in Ireland and the United Kingdom. By industry, holding company
affiliates owned by U.S. manufacturers had the largest increase.
The foreign direct investment in the United States position increased $506.1 billion to $4.98 trillion at
the end of 2021 from $4.47 trillion at the end of 2020. The increase mainly reflected a $378.4 billion
increase in the position from Europe, primarily the Netherlands and the United Kingdom. By industry,
affiliates in manufacturing and information 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 2021. The U.S. direct
investment abroad position was largest in the United Kingdom ($1.0 trillion), followed by the
Netherlands ($885.3 billion) and Luxembourg ($715.6 billion). Ireland ($556.6 billion) and Canada
($406.4 billion) rounded out the top five.
By industry of the directly owned foreign affiliate, investment was largest in holding companies, which
accounted for 47.3 percent of the overall position abroad in 2021. Finance and insurance affiliates were
second largest, with 15.6 percent, and manufacturing affiliates were third largest, with 14.1 percent, of
U.S. investment. By industry of the U.S. parent, investment by manufacturing MNEs accounted for 49.3
percent of the position, followed by MNEs in finance and insurance (15.1 percent).
U.S. MNEs earned income of $542.3 billion in 2021 on their cumulative investment abroad, a 25.0
percent increase from 2020. Dividends, or repatriated profits, decreased $65.2 billion, or 21.8 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 2021. Japan remained the top investing country with a position of $690.0 billion, followed by the
Netherlands ($629.5 billion), Canada ($527.9 billion), the United Kingdom ($512.4 billion), and Germany
($403.6 billion).
By country of the ultimate beneficial owner (UBO), Japan ($721.0 billion) remained the top investing
country in terms of position at the end of 2021. Germany ($636.5 billion) moved up one position from
2020 to be the second-largest investing country, moving Canada ($607.3 billion) to third. The United
Kingdom ($565.2 billion) and Ireland ($353.0 billion) were the fourth- and fifth-largest investing
countries, respectively. 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 42.4 percent of the position. There was also sizable investment in finance and insurance
(12.5 percent) and wholesale trade (9.7 percent).
Foreign MNEs earned income of $275.3 billion in 2021 on their cumulative investment in the United
States, an 82.4 percent increase from 2020.
Updates to Previously Published Statistics
[Billions of dollars]1

2019
2020

U.S. direct investment abroad
Previously published
Revised
5,907
5,835
6,152
6,086

Foreign direct investment in the United States
Previously published
Revised
4,439
4,399
4,458
4,471

1. BEA statistics for U.S. direct investment abroad and foreign direct investment in the United States for 2019–2020 are revised to
incorporate newly available and revised source data.

Next release: July 2023
Direct Investment by Country and Industry, 2022

Additional Information
Resources
•
•

•
•
•
•
•

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 Wire, 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
International Trade and Investment Country Facts.”
Access BEA data by registering for BEA’s Data
Application Programming Interface.
Additional information on direct investment positions
will be published in the August Survey of Current
Business.

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.
A foreign affiliate is a foreign business enterprise that is at
least 10 percent owned by a single U.S. person or entity.
A U.S. parent is a U.S. person or entity that owns 10 percent
or more of a foreign business enterprise.
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 ultimate beneficial owner (UBO) is the person or
entity, proceeding up a U.S. affiliate's chain of majority
ownership (where the entity above owns more than 50
percent of the entity below), 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 position is the value of direct
investors’ equity in, and net outstanding loans to, their
affiliates. Changes in the position result from financial
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.
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.
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.

Statistical conventions
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.
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 the? United States may not
reflect the ultimate source of the funds, which is often the
ultimate beneficial owner.
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 or International Financial Reporting Standards.
This differs from the market value measure featured in the
U.S. net International Investment Position (IIP) Accounts.
This release presents statistics on a directional basis rather
than the on the asset/liability basis featured in the U.S.

International Transactions Accounts (ITAs) and the U.S. net
IIP 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.

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.
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.
The 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 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.
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.

News Release Tables
Table 1. U.S. Direct Investment Abroad: Selected Items by Country of Foreign Affiliate, 2018–2021
Table 2. U.S. Direct Investment Abroad: Selected Items by Industry of Foreign Affiliate, 2018–2021
Table 3. U.S. Direct Investment Abroad: Dividends by Country of Foreign Affiliate, 2018–2021
Table 4. U.S. Direct Investment Abroad: Dividends by Industry of U.S. Parent, 2018–2021
Table 5. U.S. Direct Investment Position Abroad, by Industry of Affiliate and by Industry of U.S. Parent, 2018–2021
Table 6. U.S. Direct Investment Position Abroad on a Historical-Cost Basis, Country by Industry of Foreign Affiliate,
2021
Table 7. Foreign Direct Investment in the United States: Selected Items by Country of Foreign Parent, 2018–2021
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, 2018–2021
Table 9. Foreign Direct Investment in the United States: Selected Items by Industry of U.S. Affiliate, 2018–2021
Table 10. Foreign Direct Investment Position in the United States on a Historical-Cost Basis, Country by Industry of
U.S. Affiliate, 2021

Table 1. U.S. Direct Investment Abroad: Selected Items by Country of Foreign Affiliate, 2018–2021
[Millions of dollars]
Direct investment position on a
historical‐cost basis
2018
2019
2020
5,792,290
5,834,566
6,085,708
373,604
370,633
373,823
3,413,031
3,453,820
3,628,811
6,848
5,948
4,585
59,397
61,782
66,901
5,253
5,234
5,086
10,692
12,770
15,793
4,063
2,685
3,454
67,548
87,692
104,635
134,794
141,516
151,475
431
134
157
5,283
12,144
12,800
444,037
377,158
373,443
32,842
25,573
27,441
720,628
723,760
713,615
809,663
825,002
829,352
25,905
24,934
21,325
11,870
10,632
12,920
2,504
2,280
2,151
12,779
14,381
13,243
31,916
35,446
37,712
43,521
42,140
57,561
210,800
192,950
225,230
4,193
4,006
6,221
754,139
833,850
918,147
13,924
11,803
25,565
1,000,673
961,480
1,028,615
134,707
135,121
139,099
8,907
10,693
12,073
78,963
76,024
66,476
25,660
25,425
23,426
7,236
7,035
6,844
781
751
193
5,455
6,448
7,260
2,338
2,940
2,595
5,367
5,806
20,233
107,381
108,714
115,961
1,589
2,537
2,569
1,202
1,488
1,107
95,543
95,659
104,351
5,206
4,554
3,900
3,841
4,476
4,034
758,586
717,645
773,555
40,015
35,968
48,996
339,399
309,240
324,592
2,101
2,554
2,411
304,716
301,989
333,792
72,356
67,895
63,763
48,069
45,811
44,562
11,028
10,968
11,001
4,504
6,510
6,686
9,088
7,943
7,242
23,450
20,390
19,634
76,945
79,949
79,431
28,997
32,925
39,461
10,807
10,595
10,793
18,055
15,992
15,892
19,087
20,437
13,285
879,968
922,874
930,464
166,269
163,465
169,669
107,557
105,613
115,026
81,215
97,535
86,303
42,197
42,000
42,257
19,886
19,981
13,164
108,933
120,907
121,809
10,385
11,326
12,114
11,379
11,779
11,715
5,562
5,427
4,548
232,940
253,805
273,137
37,282
36,277
34,300
27,479
25,123
17,939
16,415
17,484
16,693
12,471
12,153
11,789

2021
6,489,012
406,356
3,981,383
4,632
61,934
5,253
16,414
6,487
106,167
170,218
303
11,436
556,599
28,096
715,591
885,305
30,554
13,372
2,154
12,298
38,956
57,698
216,116
6,190
1,005,470
30,139
1,017,716
141,099
12,543
67,547
22,582
6,802
70
7,544
2,630
21,382
122,685
2,807
1,251
110,684
3,460
4,484
753,933
36,419
278,842
2,722
371,601
64,349
44,808
11,697
5,920
7,553
19,638
81,280
41,302
11,875
16,241
11,863
957,469
167,193
118,186
86,836
45,448
15,737
118,746
12,537
12,129
4,724
294,540
38,115
16,768
15,474
11,034

Financial transactions without current‐cost adjustment
(outflows (+), inflows (–))
2018
2019
2020
2021
‐157,407
20,342
204,461
349,957
15,944
30,691
8,978
31,952
6,369
‐50,691
116,901
244,342
451
38
‐638
291
9,801
5,314
3,732
‐3,932
1,181
71
‐233
325
‐1,855
‐752
1,181
438
‐597
763
568
3,275
1,242
6,767
‐974
310
5,406
17,080
8,549
12,961
149
‐154
‐96
167
1,284
‐107
551
‐481
2,780
‐85,312
19,693
77,302
7,468
1,985
720
1,486
31,538
8,055
14,041
26,403
‐56,091
‐23,114
18,230
30,751
‐375
‐3,013
‐1,155
10,102
1,827
‐514
386
991
217
‐92
‐763
136
1,208
‐84
463
‐982
‐2,422
3,463
661
702
6,854
122
1,988
2,951
‐16,449
89
10,000
11,074
721
441
2,727
387
12,369
18,456
30,224
65,126
‐340
‐190
7,046
4,561
‐145,362
‐351
36,223
39,094
‐3,982
2,013
7,152
2,601
‐4,412
1,310
(D)
239
557
‐990
‐5,767
3,550
397
328
‐1,020
‐1,002
846
125
1,418
110
49
33
‐182
‐111
‐421
1,386
1,002
1,129
‐963
‐152
309
‐90
‐34
‐26
(D)
‐1,223
6,854
7,499
963
9,150
234
163
‐102
‐372
‐446
212
‐388
134
6,456
6,253
2,364
9,313
612
370
‐268
‐415
‐2
501
‐643
490
‐148,234
‐9,863
28,108
27,343
2,597
4,785
11,385
3,191
‐149,490
‐16,014
‐925
‐6,948
195
624
121
314
9,334
1,940
16,079
27,251
‐10,869
‐1,198
1,449
3,535
‐1,164
‐3,431
1,695
‐230
‐516
11
‐36
615
‐291
997
157
‐820
201
453
‐62
302
‐557
‐4,892
1,637
‐328
3,513
3,700
7,182
2,265
701
3,539
6,972
2,116
243
26
29
1,109
946
‐554
769
376
1,624
688
‐588
‐1,336
‐36,707
40,424
33,482
32,535
‐3,273
‐2,965
2,301
‐2,453
6,391
6,286
8,717
2,846
611
4,791
1,694
10
656
2,759
643
4,117
‐2,978
902
‐1,017
3,395
1,550
6,453
‐1,360
8,290
‐674
137
1,001
1,085
‐160
208
‐81
548
238
174
228
‐729
‐39,799
15,807
22,050
14,966
‐1,664
2,618
‐498
1,811
339
1,350
85
‐147
1,317
1,235
183
‐674
738
670
‐465
‐531

Income without current cost adjustment
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
2020
2021
All countries
536,336
433,691
542,313
Canada
25,275
17,160
32,697
Europe
292,707
236,714
304,522
Austria
834
128
450
Belgium
7,428
6,674
7,031
Czech Republic
397
252
577
Denmark
800
916
705
Finland
128
443
447
France
3,135
497
2,302
Germany
6,543
4,070
7,583
Greece
64
120
167
Hungary
245
579
685
Ireland
63,989
57,446
80,192
Italy
1,702
635
2,178
Luxembourg
38,301
33,474
35,835
Netherlands
82,640
63,291
83,861
Norway
1,301
795
644
Poland
1,015
796
723
Portugal
163
99
158
Russia
1,038
1,310
1,363
Spain
3,290
2,238
2,284
Sweden
5,132
1,997
2,076
Switzerland
24,775
14,210
16,415
Turkey
594
518
506
United Kingdom
48,132
39,263
52,087
Other
1,059
6,963
6,255
Latin America and Other Western Hemisphere
118,588
95,527
93,418
South America
7,662
4,191
10,740
Argentina
468
‐275
762
Brazil
3,149
1,538
3,944
Chile
2,059
1,478
3,385
Colombia
860
379
687
Ecuador
138
75
72
Peru
809
679
1,483
Venezuela
‐292
22
70
Other
472
295
337
Central America
10,628
6,829
11,707
Costa Rica
185
21
278
Honduras
298
159
67
Mexico
9,209
6,379
11,064
Panama
551
‐30
‐87
Other
385
301
385
Other Western Hemisphere
100,298
84,506
70,971
Barbados
3,843
4,652
3,596
Bermuda
56,986
44,491
27,507
Dominican Republic
341
283
329
United Kingdom Islands, Caribbean 1
35,694
31,968
34,868
Other
3,434
3,112
4,670
Africa
3,925
1,958
4,580
Egypt
794
259
1,041
Nigeria
720
250
92
South Africa
656
551
1,018
Other
1,754
898
2,428
Middle East
8,568
4,769
9,409
Israel
1,025
703
1,629
Saudi Arabia
721
534
1,669
United Arab Emirates
1,303
1,168
1,736
Other
5,519
2,364
4,375
Asia and Pacific
87,274
77,563
97,688
Australia
8,567
5,743
9,021
China
10,984
10,084
12,263
Hong Kong
9,720
10,859
12,177
India
3,769
3,142
5,628
Indonesia
572
666
3,847
Japan
11,906
13,626
14,174
Malaysia
1,387
1,076
1,147
New Zealand
423
577
703
Philippines
539
335
418
Singapore
32,825
27,319
32,842
South Korea
2,699
2,402
3,062
Taiwan
1,125
851
892
Thailand
1,498
917
1,183
Other
1,260
‐35
331
Addendum:
European Union 2
3,157,925
3,218,036
2,432,606
2,694,019
21,275
‐46,986
68,524
154,091
251,554
264,747
174,673
228,234
1. The “United Kingdom Islands, Caribbean” is composed of 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 2018–2019, 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.
U.S. Bureau of Economic Analysis

Table 2. U.S. Direct Investment Abroad: Selected Items by Industry of Foreign Affiliate, 2018–2021
[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 institutions (banking)
Finance (except depository institutions) and insurance
Professional, scientific, and technical services
Holding companies (nonbank)
Other industries
U.S. Bureau of Economic Analysis

Direct investment position on a
historical‐cost basis
2018
2019
2020
5,792,290
5,834,566
6,085,708
165,305
154,428
130,220
738,377
786,581
864,386
82,419
76,404
98,150
141,848
205,205
239,736
39,852
46,157
42,015
49,844
41,648
42,316
122,911
126,672
137,040
16,364
14,598
21,000
83,444
84,616
83,343
201,695
191,280
200,786
229,396
229,581
245,924
292,489
306,199
317,448
134,570
144,849
122,338
894,352
900,433
939,238
150,399
158,941
147,396
2,794,202
2,737,171
2,892,662
393,200
416,383
426,097

2021
6,489,012
137,196
912,625
97,159
260,669
46,642
44,239
150,041
22,452
84,781
206,641
257,516
350,853
137,123
1,011,076
157,621
3,071,480
453,522

Financial transactions without current‐cost adjustment
(outflows (+), inflows (–))
2018
2019
2020
2021
‐157,407
20,342
204,461
349,957
‐3,788
‐8,478
‐2,556
8,292
41,886
64,399
85,264
56,497
2,051
1,005
3,056
1,126
9,160
32,787
61,205
22,120
2,657
3,019
1,623
2,509
840
3,002
‐98
1,943
12,103
13,257
11,210
16,072
777
1,142
7,454
1,569
6,053
5,620
‐2,539
2,345
8,245
4,566
3,352
8,812
‐19,248
17,852
14,122
22,050
55,847
11,364
‐2,219
32,181
‐2,933
722
‐5,967
1,038
99,308
‐30,138
‐26,770
54,805
12,845
6,772
12,240
11,789
‐353,151
‐77,799
120,623
115,703
11,826
35,649
9,724
47,602

Income without current cost adjustment
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
536,336
10,973
72,751
3,820
24,725
2,203
3,313
14,603
1,398
6,820
15,869
22,569
21,088
4,262
52,333
16,468
288,253
47,639

2020
433,691
5,509
59,350
2,455
19,264
2,320
3,045
15,588
1,073
4,878
10,726
16,479
15,175
844
48,595
12,810
242,977
31,951

2021
542,313
17,755
77,459
3,369
21,557
2,614
4,692
21,853
1,748
5,923
15,705
28,368
14,200
3,178
62,914
18,759
271,247
48,433

Table 3. U.S. Direct Investment Abroad: Dividends by Country of Foreign Affiliate, 2018–2021
[Millions of dollars]
2018
2019
2020
2021
All countries
853,359
420,606
299,112
233,934
Canada
12,623
7,417
5,871
6,516
Europe
453,661
246,447
161,186
119,608
Of which:
Netherlands
161,530
92,081
46,655
48,946
Ireland
151,235
(D)
50,040
10,263
United Kingdom
42,245
27,439
24,665
24,913
Switzerland
40,344
10,123
17,041
6,881
Luxembourg
29,742
16,766
12,195
9,104
Latin America and Other Western Hemisphere
277,651
109,055
84,898
65,436
Of which:
Bermuda
230,997
69,006
58,953
39,992
United Kingdom Islands, Caribbean
15,816
24,881
9,833
8,116
Africa
1,656
1,738
1,198
1,346
Middle East
9,394
4,834
5,420
5,268
Asia and Pacific
98,374
51,116
40,540
35,761
Of which:
Singapore
53,153
18,696
12,900
8,844
D Suppressed to avoid disclosure of data of individual companies.
1. The “United Kingdom Islands, Caribbean” is composed of British Virgin Islands, Cayman Islands, Montserrat, and Turks and Caicos Islands.
U.S. Bureau of Economic Analysis

Table 4. U.S. Direct Investment Abroad: Dividends by Industry of U.S. Parent, 2018–2021
[Millions of dollars]
2018
2019
2020
2021
All Industries
853,359
420,606
299,112
233,934
Mining
12,612
1,611
1,616
1,581
Manufacturing
566,750
278,730
164,964
114,255
Food
11,606
6,669
6,597
8,069
Chemicals
257,906
97,437
45,809
52,447
Primary and fabricated metals
1,784
1,917
837
526
Machinery
8,468
3,892
4,713
7,603
200,065
101,657
61,529
11,278
Computers and electronic products
Electrical equipment, appliances, and components
4,590
2,912
3,246
1,129
Transportation equipment
25,447
14,842
6,748
9,252
Other manufacturing
56,884
49,404
35,486
23,952
Wholesale trade
11,672
4,252
4,032
3,595
Information
(D)
(D)
(D)
41,322
Depository institution (banking)
10,987
9,193
8,526
4,769
Finance (except depository institutions) and insurance
67,313
57,233
44,804
48,798
Professional, scientific, and technical services
5,451
3,752
7,128
3,576
Holding companies (nonbank)
3,348
4,429
3,944
3,947
Other industries
(D)
(D)
(D)
12,090
Addendum:
1
39,184
20,859
23,128
12,374
Petroleum
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;
U.S. Bureau of Economic Analysis

Table 5. U.S. Direct Investment Position Abroad, by Industry of Affiliate and by Industry of U.S. Parent, 2018–2021
[Millions of dollars]
2018
2019
By industry of
By industry of
By industry of
By industry of
affiliate
U.S. parent
affiliate
U.S. parent
5,792,290
5,792,290
5,834,566
5,834,566
165,305
117,613
154,428
108,573
738,377
3,041,944
786,581
2,918,461
82,419
205,006
76,404
195,479
141,848
882,275
205,205
827,064
39,852
64,070
46,157
78,434
49,844
168,319
41,648
207,972
122,911
540,473
126,672
471,270
16,364
54,954
14,598
51,395
83,444
332,260
84,616
319,743
201,695
794,588
191,280
767,105
229,396
217,695
229,581
217,504
292,489
491,973
306,199
552,101
134,570
253,587
144,849
260,307
894,352
718,990
900,433
817,817
150,399
302,340
158,941
317,552
2,794,202
98,934
2,737,171
108,010
393,200
549,215
416,383
534,240

2020
2021
By industry of
By industry of
By industry of By industry of
affiliate
U.S. parent
affiliate
U.S. parent
6,085,708
6,085,708
6,489,012
6,489,012
130,220
103,640
137,196
108,546
864,386
3,049,613
912,625
3,199,659
98,150
222,558
97,159
225,681
239,736
890,098
260,669
959,011
42,015
68,408
46,642
74,387
42,316
227,208
44,239
232,148
137,040
487,753
150,041
554,970
21,000
48,646
22,452
48,317
83,343
320,194
84,781
323,699
200,786
784,747
206,641
781,444
245,924
219,459
257,516
223,897
317,448
583,130
350,853
679,576
122,338
267,895
137,123
278,889
939,238
920,335
1,011,076
979,970
147,396
310,483
157,621
326,854
2,892,662
112,690
3,071,480
136,415
426,097
518,464
453,522
555,207

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
Addendum:
1
156,748
586,338
148,119
550,605
135,122
546,594
145,656
542,324
Petroleum
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;
U.S. Bureau of Economic Analysis

Table 6. U.S. Direct Investment Position Abroad on a Historical‐Cost Basis, Country by Industry of Foreign Affiliate, 2021
[Millions of dollars]
Manufacturing

All industries

Mining

Total

Food

Finance
Electrical
(except
Professional,
Holding
Primary
Computers
equipment,
Wholesale
Depository depository scientific, and
Other
Information
companies
and
and
Transportation
Other
Chemicals
Machinery
appliances,
trade
institutions institutions)
technical
industries
(nonbank)
fabricated
electronic
equipment
manufacturing
and
and
services
metals
products
components
insurance
260,669
46,642
44,239
150,041
22,452
84,781
206,641
257,516
350,853
137,123
1,011,076
157,621
3,071,480
453,522
22,263
6,452
1,877
9,222
619
18,609
54,622
29,686
14,010
6,246
68,877
10,304
99,602
52,476
179,535
24,631
27,547
54,932
7,023
28,027
91,726
95,482
274,178
72,702
512,911
92,896
2,152,952
293,677
159
(D)
(D)
375
(D)
‐4
265
1,021
195
(D)
290
366
275
(D)
24,024
90
614
724
187
717
10,857
2,972
783
(D)
9,798
1,967
1,432
(D)
1,422
(D)
127
278
12
134
1,703
223
299
0
7
109
(D)
(D)
448
324
437
376
5
0
(D)
1,177
2,453
‐5
(D)
‐260
2,638
1,244
(D)
(D)
(D)
(D)
‐6
(*)
536
26
828
(D)
‐1
1,092
(D)
(D)
16,228
3,803
912
1,435
1,045
1,874
(D)
8,368
3,176
1,020
13,354
2,536
17,606
13,630
13,102
692
8,027
6,076
718
‐734
6,983
12,970
12,623
32,442
13,233
7,750
49,444
(D)
176
(*)
7
‐1
3
0
(D)
462
93
(D)
42
‐38
(*)
(D)
(D)
‐13
‐5
‐286
‐10
1,003
155
725
689
(D)
499
36
(D)
(D)
56,567
220
300
4,587
(D)
161
(D)
2,172
76,883
(D)
28,591
9,160
239,194
(D)
2,639
1,018
724
1,814
‐7
518
3,529
3,907
1,546
147
2,353
1,400
2,447
3,843
(D)
(D)
(D)
1,111
(D)
(D)
5,607
‐1,158
1,879
(D)
51,173
1,745
626,471
(D)
8,756
2,607
4,667
10,963
104
3,479
26,850
12,229
36,562
(D)
55,156
13,341
675,569
(D)
849
7
10
248
(D)
(D)
159
563
1,772
‐5
2,416
346
(D)
(D)
467
256
(D)
144
(D)
3,230
555
406
(D)
(D)
125
703
(D)
959
152
8
‐5
2
0
231
(D)
400
145
0
(D)
276
(D)
(D)
599
(D)
344
934
(D)
(D)
1,675
2,133
1,191
(D)
634
601
(D)
840
3,330
377
944
596
(D)
5,688
(D)
1,893
1,003
(D)
2,508
3,161
10,833
3,042
(D)
(D)
268
1,983
(D)
161
2,904
2,634
3,668
0
6,368
2,650
31,777
(D)
28,206
481
3,693
5,385
736
(D)
8,568
26,298
15,667
3,307
4,357
3,205
91,752
22,597
767
(D)
(D)
(D)
(*)
523
313
1,029
(D)
134
‐20
233
‐5
(D)
16,076
6,791
4,066
16,725
666
6,906
5,369
13,834
108,204
9,069
317,845
40,284
370,249
56,657
‐18
1,112
200
59
(D)
455
514
1,199
696
(D)
1,535
2,234
16,671
(D)

137,196
912,625
97,159
All countries
6,489,012
Canada
406,356
5,711
119,444
5,780
Europe
3,981,383
10,223
476,363
62,941
Austria
4,632
‐2
1,905
(D)
Belgium
61,934
(D)
38,194
981
Czech Republic
5,253
0
4,363
(D)
Denmark
16,414
(D)
6,718
(D)
Finland
6,487
0
4,866
(D)
France
106,167
49
46,428
(D)
Germany
170,218
(D)
37,170
2,306
Greece
303
0
294
(D)
Hungary
11,436
(D)
920
(D)
Ireland
556,599
(D)
69,287
606
Italy
28,096
461
11,992
1,758
Luxembourg
715,591
499
11,268
0
Netherlands
885,305
1,634
57,789
362
Norway
30,554
3,898
1,723
319
Poland
13,372
(D)
7,402
1,370
Portugal
2,154
0
484
(D)
Russia
12,298
(D)
6,324
611
Spain
38,956
(D)
14,963
907
Sweden
57,698
(D)
10,933
(D)
Switzerland
216,116
392
48,542
(D)
Turkey
6,190
‐3
2,522
(D)
United Kingdom
1,005,470
838
88,490
31,892
Other
30,139
1,430
3,784
(D)
Latin America and Other Western
Hemisphere
1,017,716
52,495
75,137
7,307
10,607
9,201
4,569
9,647
(D)
14,701
(D)
34,478
21,754
19,487
296,525
9,878
476,247
31,714
South America
141,099
31,531
28,306
3,591
9,858
5,643
1,629
4,183
451
‐1,097
4,047
7,218
8,852
(D)
21,641
4,263
24,165
(D)
Argentina
12,543
621
1,844
341
1,321
(D)
20
(D)
12
574
266
1,456
3,088
(D)
1,621
66
1,520
(D)
Brazil
67,547
11,088
18,299
2,558
5,088
5,235
1,484
3,837
261
‐2,567
2,402
2,562
5,804
2,424
12,574
2,174
6,463
6,158
Chile
22,582
6,472
4,972
105
2,243
(D)
20
861
(D)
(D)
824
1,624
‐398
(D)
5,793
790
(D)
1,451
Colombia
6,802
1,998
1,506
218
654
(D)
17
172
(D)
(D)
425
573
266
(D)
864
567
11
(D)
Ecuador
70
(D)
113
107
‐39
(D)
2
7
(*)
(D)
‐157
234
(D)
(D)
217
(D)
‐4
‐35
Peru
7,544
5,166
543
136
116
(*)
39
(D)
10
(*)
(D)
355
25
(D)
212
223
(D)
384
Venezuela
2,630
95
946
(D)
478
4
42
(*)
18
(D)
14
160
‐108
0
88
(D)
78
(D)
Other
21,382
(D)
84
(D)
‐2
0
6
(D)
(D)
2
(D)
254
(D)
(D)
272
(D)
(D)
325
Central America
122,685
11,408
43,692
3,520
5,436
(D)
(D)
2,253
2,433
15,757
10,423
5,745
4,297
(D)
13,834
‐279
28,426
(D)
Costa Rica
2,807
0
1,670
16
1,346
5
1
408
263
1
‐370
127
16
(D)
(D)
117
(D)
(D)
Honduras
1,251
0
552
(D)
1
0
0
(D)
(*)
(D)
(D)
56
4
(D)
(D)
2
0
295
Mexico
110,684
11,285
40,117
3,492
3,925
3,113
743
1,757
2,167
(D)
(D)
4,699
4,223
1,025
12,893
‐468
25,277
11,634
Panama
3,460
123
115
16
(D)
2
6
(D)
3
0
134
736
15
(D)
‐161
57
3,085
(D)
Other
4,484
(*)
1,238
(D)
(D)
(D)
(D)
(D)
0
(*)
(D)
126
40
(D)
365
13
(D)
(D)
Other Western Hemisphere
753,933
9,556
3,140
197
‐4,687
(D)
(D)
3,211
(D)
41
(D)
21,515
8,605
10,832
261,050
5,893
423,656
9,686
Barbados
36,419
10
141
(D)
7
0
4
9
0
(*)
(D)
(D)
3
0
31,380
5
(D)
487
Bermuda
278,842
(D)
‐1,769
‐1
(D)
0
(D)
(D)
0
(D)
52
(D)
6,356
213
85,004
(D)
159,017
‐202
Dominican Republic
2,722
0
2,020
126
‐7
(D)
(*)
‐4
(D)
0
(D)
69
(D)
(D)
9
‐25
8
296
1
United Kingdom Islands, Caribbean
371,601
1,077
2,560
0
(D)
10
(D)
(D)
4
(D)
‐271
‐453
(D)
(D)
133,298
1,750
221,769
7,534
Other
64,349
(D)
188
(D)
(D)
(D)
(*)
6
0
0
(D)
(D)
(D)
(D)
11,359
(D)
(D)
1,571
Africa
44,808
16,827
6,875
2,620
380
129
614
134
(D)
1,516
(D)
3,327
588
(D)
4,284
433
6,368
(D)
Egypt
11,697
(D)
849
460
1
(D)
18
(D)
‐3
(D)
73
869
57
(D)
24
‐14
(D)
85
Nigeria
5,920
1,683
1,439
(D)
(D)
0
(D)
31
0
0
(D)
(D)
175
(D)
(D)
(*)
(D)
‐1
South Africa
7,553
‐141
3,782
(D)
535
(D)
406
‐61
(D)
1,343
216
913
340
(D)
625
185
378
(D)
Other
19,638
(D)
805
153
(D)
(D)
(D)
(D)
(D)
(D)
417
(D)
17
(D)
(D)
262
(D)
2,449
Middle East
81,280
15,425
33,786
706
2,035
5
400
20,382
(D)
198
(D)
4,327
4,232
(D)
1,954
4,109
11,400
(D)
Israel
41,302
(D)
32,146
(D)
448
16
119
20,937
(D)
(D)
(D)
1,548
3,415
(D)
47
2,621
(D)
500
Saudi Arabia
11,875
2,014
‐483
1
205
‐185
(D)
(D)
0
(D)
(D)
1,376
33
3
(D)
504
7,498
(D)
United Arab Emirates
16,241
7,807
469
(D)
(D)
(D)
248
(D)
1
0
268
1,478
684
(D)
1,105
613
10
(D)
Other
11,863
(D)
1,654
(D)
(D)
(D)
(D)
(D)
0
0
(D)
‐76
100
(D)
(D)
371
(D)
357
Asia and Pacific
957,469
36,514
201,020
17,804
45,848
6,223
9,233
55,723
4,076
21,731
40,382
90,217
36,090
33,998
126,525
40,002
324,911
68,192
Australia
167,193
18,748
18,977
7,358
988
2,318
1,196
902
‐21
2,108
4,128
4,765
7,843
341
9,679
9,707
88,095
9,038
China
118,186
1,128
56,978
2,824
15,568
1,622
1,585
12,826
851
13,571
8,131
18,300
2,180
6,356
9,997
4,595
2,236
16,417
Hong Kong
86,836
0
10,976
122
2,631
649
1,712
4,385
195
‐59
1,342
11,900
2,703
2,154
9,202
2,350
46,657
894
India
45,448
‐785
9,672
840
2,610
151
1,539
1,384
692
‐98
2,554
3,412
6,958
(D)
6,360
15,548
585
(D)
Indonesia
15,737
11,839
1,954
799
946
3
82
‐13
(D)
(D)
140
97
208
41
587
589
551
‐130
Japan
118,746
0
28,422
669
7,730
344
717
6,045
834
2,679
9,404
8,798
10,579
389
53,375
4,076
‐737
13,844
Malaysia
12,537
429
5,098
(D)
573
68
105
2,491
(D)
835
(D)
698
373
(D)
1,416
223
2,544
(D)
New Zealand
12,129
28
1,796
(D)
189
8
(D)
323
(*)
(D)
510
1,127
421
(D)
2,174
270
(D)
(D)
Philippines
4,724
(*)
1,528
(D)
227
(D)
65
181
(D)
(D)
464
542
‐18
(D)
244
703
(D)
673
Singapore
294,540
‐42
37,223
1,954
6,980
327
675
19,030
820
1,814
5,624
32,724
‐614
1,349
24,325
1,389
178,580
19,606
South Korea
38,115
(D)
11,545
26
3,561
237
939
3,301
15
‐200
3,667
3,635
4,483
(D)
5,245
537
‐79
(D)
Taiwan
16,768
0
6,072
(D)
585
‐153
90
5,006
169
‐150
(D)
2,464
848
(D)
2,467
‐22
534
(D)
Thailand
15,474
(D)
9,232
1,376
2,914
(D)
524
360
‐1
1,136
(D)
1,508
68
(D)
376
551
(D)
583
Other
11,034
(D)
1,548
(D)
346
(D)
(D)
‐498
1
(D)
489
247
57
(D)
1,077
‐513
265
4,079
Addendum:
European Union 2
2,694,019
3,688
327,583
29,499
133,043
14,797
19,468
31,077
5,547
18,475
75,676
51,091
145,337
59,284
186,279
47,126
1,672,487
201,144
* 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 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 2018–2019, 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
U.S. Bureau of Economic Analysis

Table 7. Foreign Direct Investment in the United States: Selected Items by Country of Foreign Parent, 2018–2021
[Millions of dollars]
Direct investment position on a
historical‐cost basis
2018
4,179,984
447,276
2,793,000
11,618
73,102
19,703
14,221
255,016
320,457
276,963
27,606
333,774
448,285
37,048
86,884
46,361
291,862
489,179
60,922
148,772
30,919
3,350
18,481
2,615
1,697
4,776
117,853
984
16,682
1,328
90,769
8,089
5,049
3,121
1,927
37,827
12,248
1,464
9
7,738
14,795
1,573
748,061
74,146
35,437
15,115
4,518
514,234
1,021
3,211
24,598
57,998
13,840
3,940

2019
4,398,763
481,722
2,791,464
14,454
68,133
22,658
8,141
266,448
319,615
235,786
29,788
322,291
496,672
34,391
86,370
55,295
254,975
500,921
75,525
203,097
44,186
5,740
19,583
1,838
1,671
15,353
158,911
1,526
44,752
1,191
101,538
9,904
9,007
2,960
6,047
41,454
13,429
1,448
4
7,271
17,426
1,875
872,020
76,477
38,792
14,049
4,036
633,882
861
2,629
27,134
55,606
14,558
3,996

2020
4,471,403
495,327
2,807,583
15,419
65,495
30,179
7,828
284,194
347,965
235,448
31,999
334,680
506,276
30,360
85,090
60,155
275,208
421,766
75,523
211,186
46,413
7,041
20,645
1,800
1,381
15,546
164,773
1,865
48,506
1,193
101,906
11,303
9,861
3,558
6,303
41,238
10,608
1,423
2
6,395
20,340
2,471
906,208
85,802
36,785
14,069
1,679
651,075
1,036
2,395
28,427
63,137
17,972
3,829

Financial transactions without current‐cost
adjustment (inflows (+), outflows (–))
2021
4,977,492
527,896
3,186,004
16,202
71,571
34,625
10,086
276,146
403,646
269,429
34,373
382,914
629,523
32,498
79,253
71,453
282,279
512,431
79,574
239,855
59,120
8,017
28,012
1,872
1,075
20,144
180,735
2,023
49,488
1,116
116,392
11,717
10,333
4,103
6,230
42,356
11,253
1,433
‐1
6,181
21,160
2,330
971,048
97,745
38,249
14,429
2,947
690,022
1,086
2,729
30,167
72,521
17,336
3,818

2018
203,234
29,132
100,014
‐2,657
2,505
1,867
1,457
992
22,358
67,432
1,489
‐121,699
78,306
4,599
6,319
1,819
28,188
‐2,796
9,835
41,147
4,735
2,986
260
355
758
376
36,411
349
31,970
27
5,102
‐1,037
223
12
211
4,936
1,631
158
‐6
592
3,450
‐889
27,783
119
320
3,309
‐1,072
20,817
448
345
477
1,787
1,876
‐644

2019
242,519
38,251
103,974
2,878
1,201
3,252
‐727
13,775
29,216
‐4,022
1,517
2,883
19,935
839
3,108
5,229
9,975
10,360
4,555
38,792
2,948
2,650
‐511
‐176
127
859
35,844
541
20,072
‐135
13,387
1,978
3,943
‐171
4,114
3,298
596
‐138
‐5
‐481
3,027
299
54,262
7,587
3,618
429
‐217
35,292
‐224
244
2,781
4,208
455
90

2020
95,037
20,011
38,539
982
578
7,232
‐338
13,435
23,792
‐1,115
2,615
‐6,133
18,014
‐1,614
2,482
4,715
6,259
‐30,935
‐1,429
‐7,260
4,178
922
2,236
1,158
(D)
(D)
‐11,438
45
4,114
52
‐15,447
‐203
434
538
‐104
1,437
1,827
8
‐2
(D)
‐107
(D)
41,877
7,651
‐1,809
‐723
‐299
26,804
228
540
1,182
5,036
3,482
‐215

2021
389,194
38,229
267,759
570
2,831
4,436
1,999
8,009
52,308
41,375
2,527
4,444
42,925
1,810
‐4,109
11,196
6,544
89,791
1,103
22,778
11,146
800
5,985
61
‐379
4,680
11,632
153
4,690
‐65
6,172
682
767
515
251
1,110
633
18
‐3
(D)
807
(D)
58,551
6,652
813
329
1,023
39,078
68
60
1,822
9,398
‐639
‐52

Income without current‐cost adjustment
2018
203,687
27,300
132,961
1,196
1,898
1,739
821
12,208
22,623
9,023
1,539
16,539
20,721
2,466
2,834
3,701
20,295
14,808
551
7,156
2,557
109
1,388
119
(D)
(D)
4,599
110
1,893
7
2,056
533
204
41
163
1,136
186
3
‐5
(D)
522
(D)
34,929
2,206
1,271
970
133
26,215
(*)
388
1,309
1,654
776
6

2019
2020
2021
All countries
196,607
150,946
275,273
Canada
27,891
19,254
34,196
Europe
124,339
96,170
166,792
Austria
997
1,058
1,086
Belgium
856
1,824
3,520
Denmark
1,747
2,043
2,256
Finland
455
472
676
France
10,859
12,770
8,973
Germany
17,511
17,847
27,775
Ireland
7,899
6,772
11,130
Italy
1,379
1,155
1,761
Luxembourg
12,998
9,675
12,642
Netherlands
22,902
13,809
25,801
Norway
1,221
‐1,109
4,543
Spain
1,998
2,099
6,146
Sweden
3,659
3,935
5,991
Switzerland
19,134
10,424
15,087
United Kingdom
17,818
11,071
35,873
Other
2,905
2,325
3,532
Latin America and Other Western Hemisphere
8,732
6,793
13,472
South and Central America
3,432
3,782
6,776
Brazil
1,081
938
1,190
Mexico
1,682
2,611
4,967
Panama
61
52
42
Venezuela
(D)
(D)
(D)
Other
(D)
(D)
(D)
Other Western Hemisphere
5,301
3,011
6,695
Bahamas
96
‐23
63
Bermuda
2,708
1,763
1,990
Curacao
‐53
‐105
‐27
United Kingdom Islands, Caribbean 1
1,920
903
4,348
Other
630
473
321
Africa
324
497
675
South Africa
248
(D)
(D)
Other
77
(D)
(D)
Middle East
951
63
2,611
Israel
104
305
381
Kuwait
‐122
(D)
58
Lebanon
‐2
‐1
(*)
Saudi Arabia
74
(D)
(D)
United Arab Emirates
832
930
1,251
Other
64
(D)
(D)
Asia and Pacific
34,370
28,169
57,527
Australia
2,201
2,544
6,125
China
1,119
‐739
759
Hong Kong
400
239
449
India
‐222
48
465
Japan
27,257
22,158
40,060
Malaysia
16
‐1
22
New Zealand
332
669
112
Singapore
868
1,242
1,722
South Korea
1,695
1,474
6,449
Taiwan
567
506
1,097
Other
136
28
268
Addendum:
2
European Union
2,442,581
2,482,404
2,060,049
2,337,366
65,168
92,888
64,427
168,456
109,144
103,132
75,131
109,916
* 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 2018–2019, 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.
U.S. Bureau of Economic Analysis

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, 2018–2021
[Millions of dollars]
2018

2019

2020

2021

By country of By country of
each member
ultimate
of the foreign
beneficial
parent group
owner

By country of By country of
each member
ultimate
of the foreign
beneficial
parent group
owner

By country of By country of
each member
ultimate
of the foreign
beneficial
parent group
owner

By country of By country of
ultimate
each member
beneficial
of the foreign
parent group
owner

4,179,984
4,398,763
4,398,763
4,471,403
4,471,403
4,977,492
4,977,492
All countries
4,179,984
Canada
447,276
534,800
481,722
567,222
495,327
572,076
527,896
607,257
Europe
2,793,000
2,449,723
2,791,464
2,463,179
2,807,583
2,415,352
3,186,004
2,804,775
Austria
11,618
12,792
14,454
13,561
15,419
25,298
16,202
26,153
Belgium
73,102
61,382
68,133
60,302
65,495
59,964
71,571
63,021
Denmark
19,703
20,435
22,658
23,932
30,179
30,979
34,625
35,400
Finland
14,221
9,774
8,141
15,544
7,828
16,364
10,086
27,440
France
255,016
279,068
266,448
291,133
284,194
310,916
276,146
325,742
Germany
320,457
470,806
319,615
499,845
347,965
528,456
403,646
636,501
Ireland
276,963
351,891
235,786
371,165
235,448
300,093
269,429
353,041
Italy
27,606
33,286
29,788
37,080
31,999
37,991
34,373
41,073
Luxembourg
333,774
32,519
322,291
33,970
334,680
39,604
382,914
46,644
Netherlands
448,285
205,459
496,672
224,538
506,276
186,762
629,523
251,232
Norway
37,048
37,561
34,391
35,091
30,360
30,975
32,498
33,287
Spain
86,884
88,354
86,370
90,148
85,090
88,897
79,253
80,855
Sweden
46,361
49,813
55,295
52,687
60,155
57,496
71,453
68,544
Switzerland
291,862
190,531
254,975
192,360
275,208
218,532
282,279
228,846
United Kingdom
489,179
586,094
500,921
501,933
421,766
463,202
512,431
565,243
Other
60,922
19,958
75,525
19,890
75,523
19,821
79,574
21,754
Latin America and Other Western Hemisphere
148,772
192,651
203,097
225,841
211,186
234,806
239,855
245,169
South and Central America
30,919
103,655
44,186
108,593
46,413
109,778
59,120
115,040
Brazil
3,350
47,461
5,740
48,051
7,041
47,214
8,017
46,209
Mexico
18,481
40,493
19,583
39,642
20,645
42,099
28,012
48,130
Panama
2,615
722
1,838
490
1,800
550
1,872
510
Venezuela
1,697
1,886
1,671
1,928
1,381
1,666
1,075
1,411
Other
4,776
13,094
15,353
18,483
15,546
18,248
20,144
18,780
Other Western Hemisphere
117,853
88,996
158,911
117,248
164,773
125,028
180,735
130,130
Bahamas
984
(D)
1,526
(D)
1,865
(D)
2,023
(D)
Bermuda
16,682
44,203
44,752
63,221
48,506
68,676
49,488
75,550
Curacao
1,328
(D)
1,191
(D)
1,193
(D)
1,116
(D)
2
90,769
25,400
101,538
33,380
101,906
35,370
116,392
33,121
United Kingdom Islands, Caribbean
Other
8,089
(D)
9,904
(D)
11,303
(D)
11,717
(D)
Africa
5,049
5,184
9,007
5,055
9,861
5,440
10,333
6,342
South Africa
3,121
4,225
2,960
4,049
3,558
4,455
4,103
5,321
Other
1,927
959
6,047
1,006
6,303
985
6,230
1,021
Middle East
37,827
91,595
41,454
94,349
41,238
76,413
42,356
77,349
Israel
12,248
37,939
13,429
38,591
10,608
27,711
11,253
27,670
Kuwait
1,464
1,674
1,448
1,594
1,423
1,567
1,433
1,593
Lebanon
9
504
4
500
2
494
‐1
582
Saudi Arabia
7,738
15,112
7,271
14,314
6,395
10,634
6,181
10,164
United Arab Emirates
14,795
33,350
17,426
35,223
20,340
31,580
21,160
33,084
Other
1,573
3,016
1,875
4,126
2,471
4,428
2,330
4,256
Asia and Pacific
748,061
827,097
872,020
962,086
906,208
996,770
971,048
1,062,589
Australia
74,146
78,788
76,477
80,910
85,802
89,771
97,745
102,249
China
35,437
51,599
38,792
52,023
36,785
51,602
38,249
53,701
Hong Kong
15,115
17,321
14,049
17,828
14,069
17,117
14,429
16,614
India
4,518
6,274
4,036
12,491
1,679
12,645
2,947
14,390
Japan
514,234
522,315
633,882
663,176
651,075
680,278
690,022
721,035
Malaysia
1,021
2,824
861
1,307
1,036
336
1,086
‐657
New Zealand
3,211
3,152
2,629
2,399
2,395
2,196
2,729
2,607
Singapore
24,598
64,658
27,134
52,725
28,427
53,267
30,167
53,689
South Korea
57,998
56,783
55,606
54,696
63,137
61,726
72,521
71,742
Taiwan
13,840
18,986
14,558
19,941
17,972
23,470
17,336
23,371
Other
3,940
4,398
3,996
4,590
3,829
4,362
3,818
3,850
United States
…..................
78,932 …..................
81,031 …..................
170,546 …..................
174,011
…....... Not applicable
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.
U.S. Bureau of Economic Analysis

Table 9. Foreign Direct Investment in the United States: Selected Items by Industry of U.S. Affiliate, 2018–2021
[Millions of dollars]
Direct investment position on a historical‐cost basis
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
U.S. Bureau of Economic Analysis

2018
4,179,984
1,719,274
110,666
705,532
71,868
103,054
115,449
56,144
136,869
419,692
447,112
136,206
208,932
226,657
467,449
156,992
182,920
634,441

2019
4,398,763
1,826,805
113,025
747,054
80,650
79,526
150,910
62,449
159,570
433,619
422,295
138,140
204,950
212,575
537,905
162,759
199,377
693,958

2020
4,471,403
1,874,665
113,185
731,439
84,565
94,399
173,930
80,805
165,830
430,512
449,058
141,825
187,959
217,385
583,325
169,117
205,291
642,779

2021
4,977,492
2,108,607
115,444
821,223
91,979
104,112
216,792
112,688
179,529
466,839
483,308
153,843
281,124
208,154
620,552
208,443
221,644
691,816

Financial transactions without current‐cost adjustment
(inflows (+); outflows (–))
2018
2019
2020
2021
203,234
242,519
95,037
389,194
143,429
101,645
36,705
180,860
11,427
3,134
‐1,376
5,101
89,354
45,846
5,742
72,715
3,569
6,542
2,261
6,980
‐5,078
4,043
2,209
8,721
10,083
16,992
18,370
33,897
8,350
1,658
‐334
5,142
7,666
3,977
5,408
13,061
18,058
19,452
4,424
35,243
12,611
31,270
25,540
48,622
57,058
6,085
4,557
11,863
12,061
10,087
‐4,311
33,453
8,552
1,591
5,635
‐3,525
35,212
27,578
9,453
28,563
21,830
7,439
11,362
37,230
‐100,057
13,103
3,811
15,044
12,538
43,722
2,286
37,083

Income without current‐cost adjustment
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
196,607
81,337
6,372
29,967
2,866
5,590
3,415
1,792
9,201
22,133
22,111
7,174
8,035
8,261
33,389
5,844
3,512
26,943

2020
150,946
68,816
7,201
23,588
1,288
5,471
4,973
2,579
6,853
16,864
17,682
6,238
6,006
6,349
26,661
3,445
3,345
12,404

2021
275,273
109,267
8,597
26,731
7,456
9,016
6,362
4,420
14,285
32,399
38,767
11,862
7,330
17,697
41,678
4,976
6,226
37,470

Table 10. Foreign Direct Investment Position in the United States on a Historical‐Cost Basis, Country by Industry of U.S. Affiliate, 2021
[Millions of dollars]
Manufacturing
All industries

Total

Food

Chemicals

Primary and
fabricated
metals

Machinery

Electrical
Computers and
equipment,
electronic
appliances, and
products
components

Transportation
equipment

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

All countries
4,977,492
2,108,607
115,444
821,223
91,979
104,112
216,792
112,688
179,529
466,839
483,308
153,843
281,124
208,154
620,552
208,443
221,644
Canada
527,896
79,543
8,232
18,286
12,101
1,338
(D)
359
7,267
(D)
65,923
19,328
11,641
84,037
93,754
29,089
4,784
1,551,535
79,364
645,309
57,823
77,458
143,298
104,178
98,476
345,629
199,200
114,846
244,367
66,430
364,450
89,675
177,170
Europe
3,186,004
Austria
16,202
7,586
260
167
2,623
1,090
‐53
(*)
40
3,460
(D)
(D)
(D)
(D)
(D)
(D)
(D)
Belgium
71,571
61,397
(D)
15,671
(D)
(D)
(D)
(D)
(D)
(D)
3,253
(D)
(D)
(D)
(D)
(D)
306
23
(D)
(D)
(D)
(*)
1,889
11,933
(D)
‐14
0
(D)
(D)
569
Denmark
34,625
13,649
503
1,980
6,172
(D)
(D)
(D)
3,353
(D)
(D)
(D)
722
2,146
(D)
(D)
(D)
(*)
5
‐248
Finland
10,086
144,674
15,162
87,455
2,810
475
2,437
(D)
11,621
(D)
26,051
2,717
11,729
10,606
33,524
716
13,744
France
276,146
Germany
403,646
175,939
121
41,006
4,290
5,023
38,394
(D)
46,465
(D)
55,016
(D)
9,649
27,954
52,070
14,605
27,877
73,148
(D)
30,582
14,294
6,578
‐4
(D)
1,148
17,462
9,625
(D)
17,782
(D)
23,190
(D)
(D)
Ireland
269,429
1,179
3,805
353
2,625
3,352
249
1,382
4,706
2,450
4,740
143
(D)
249
413
(D)
Italy
34,373
17,650
Luxembourg
382,914
303,860
(D)
136,605
(D)
(D)
(D)
(D)
‐1,108
68,865
5,875
6,892
19,683
3
10,230
2,348
1,378
13,492
7,985
(D)
27,124
8,166
109,509
(D)
62,813
4,716
51,345
Netherlands
629,523
316,955
‐2,589
125,443
1,962
(D)
64,520
2,003
1
120
(D)
45
(D)
9
(D)
(D)
(D)
(D)
171
(D)
(D)
167
496
Norway
32,498
Spain
79,253
13,200
2,585
(D)
(D)
897
8
(D)
(D)
1,995
718
(D)
1,156
1,906
(D)
3,649
(D)
206
(D)
(D)
8,296
10,484
(D)
(D)
(D)
1,800
(D)
(D)
Sweden
71,453
46,592
12
19,107
8,482
2,070
Switzerland
282,279
141,239
(D)
(D)
1,810
2,524
3,428
(D)
(D)
13,328
889
11,367
(D)
(D)
(D)
1,583
4,103
(D)
86,169
9,788
8,752
12,488
456
20,071
(D)
26,157
14,931
(D)
(D)
47,435
10,420
30,850
United Kingdom
512,431
193,557
Other
79,574
33,915
(D)
9,829
2,851
(D)
114
97
3,521
(D)
(D)
819
416
(D)
(D)
(D)
537
Latin America and Other Western Hemisphere
239,855
58,817
19,940
7,143
4,012
(D)
17,899
(D)
511
(D)
11,685
2,056
9,085
9,698
30,613
40,928
5,437
12,987
(D)
‐1,016
(D)
3
‐347
90
249
(D)
3,069
294
1,084
9,179
849
1,538
142
South and Central America
59,120
Brazil
8,017
3,571
(D)
‐431
69
‐16
‐17
(D)
589
(D)
‐195
‐4
‐25
3,989
423
46
‐43
‐238
1,006
152
‐322
135
‐272
1,025
3,195
163
880
(D)
280
804
61
Mexico
28,012
6,477
4,990
Panama
1,872
(D)
(*)
(D)
‐6
7
(*)
(*)
(D)
15
105
(D)
(*)
(D)
38
514
13
Venezuela
1,075
(D)
‐8
(*)
(D)
2
(*)
(*)
0
(D)
24
‐1
(*)
(D)
(D)
35
(*)
2,028
‐25
(D)
(D)
‐141
‐8
(D)
(D)
376
‐59
(D)
230
3,953
(D)
139
111
Other
20,144
(D)
8,158
(D)
(D)
18,246
(D)
262
3,316
8,616
1,762
8,001
520
29,765
39,389
5,295
Other Western Hemisphere
180,735
45,830
Bahamas
2,023
(D)
3
(D)
(D)
(D)
(D)
(D)
(D)
(D)
190
0
(D)
(D)
(D)
827
(D)
17,885
(D)
(D)
0
3
(D)
1
(D)
(D)
‐888
(*)
(D)
0
‐9,776
(D)
(D)
Bermuda
49,488
Curacao
1,116
(D)
(D)
(D)
0
(D)
3
0
0
1
(D)
(D)
(*)
(D)
(D)
362
(D)
1
116,392
18,477
(D)
‐1,025
(D)
175
(D)
(D)
(D)
1,263
8,470
1,653
6,317
(D)
38,554
14,370
1,204
United Kingdom Islands, Caribbean
Other
11,717
(D)
(D)
(D)
‐3
0
1
1
(D)
‐55
(D)
(D)
(D)
(D)
(D)
(D)
106
Africa
10,333
6,562
‐5
(D)
‐38
169
‐7
‐14
(D)
(D)
137
(D)
‐51
(D)
‐8
729
209
South Africa
4,103
(D)
‐7
(D)
(D)
(D)
‐7
(D)
(D)
4
34
(D)
1
(*)
‐1
(D)
‐15
(D)
1
(D)
(D)
(D)
(*)
(D)
(D)
(D)
103
(D)
‐52
(D)
‐7
(D)
224
Other
6,230
‐25
(D)
‐98
(D)
(D)
‐7
(D)
(D)
5,296
(D)
854
(D)
536
5,313
1,023
Middle East
42,356
22,750
Israel
11,253
2,438
(D)
1,227
(D)
(D)
988
19
(D)
171
(D)
(D)
961
2,609
(D)
3,375
1,012
Kuwait
1,433
(D)
0
(D)
(*)
0
(D)
1
4
‐1
0
0
(*)
(D)
(*)
1,207
4
Lebanon
‐1
(*)
0
0
0
0
0
0
0
(*)
(*)
(D)
(D)
0
0
(D)
‐4
Saudi Arabia
6,181
(D)
0
‐5
(D)
‐1
(D)
(D)
(D)
(D)
(D)
(D)
4
(D)
(D)
61
4
(D)
(D)
‐29
‐6
(D)
(*)
(D)
(D)
(D)
72
(D)
(D)
(D)
(D)
649
(D)
United Arab Emirates
21,160
110
0
(D)
0
(D)
0
0
0
3
‐85
(D)
(D)
‐93
(*)
(D)
(D)
Other
2,330
389,398
7,939
142,861
18,179
21,964
47,851
(D)
72,166
(D)
201,067
17,659
15,228
45,165
131,207
42,709
33,021
Asia and Pacific
971,048
Australia
97,745
25,325
925
(D)
3,998
‐187
(D)
‐2
‐5
17,699
2,446
72
‐176
1,141
6,934
5,604
12,603
China
38,249
5,954
2
‐83
809
947
416
458
2,249
1,155
6,577
(D)
3,798
2,382
(D)
2,980
96
Hong Kong
14,429
2,395
‐7
516
55
120
1,028
53
233
398
3,142
181
283
1,669
(D)
1,799
1,689
(D)
12
2,637
India
2,947
2,827
3
1,815
9
‐30
‐26
24
81
951
55
(D)
143
2,124
5,780
129,736
11,518
20,269
38,687
2,681
66,246
51,410
124,172
12,853
11,242
32,546
110,385
29,155
14,957
Japan
690,022
326,327
Malaysia
1,086
251
3
(D)
(*)
(D)
‐9
(*)
4
(D)
60
(*)
(D)
(D)
(D)
238
11
New Zealand
2,729
1,917
32
‐2
3
(D)
(*)
(D)
(D)
(D)
476
1
11
0
(D)
167
‐144
(D)
320
(D)
21
(D)
371
198
(D)
2,954
(D)
‐130
1,128
(D)
2,213
997
Singapore
30,167
8,430
(D)
38
453
2,706
‐93
55,611
86
‐146
1,424
639
324
243
South Korea
72,521
9,749
(D)
3,476
1,690
5,448
(D)
(D)
(D)
(D)
738
(D)
‐17
335
4,973
(D)
189
2,208
(D)
87
‐44
Taiwan
17,336
Other
3,818
774
530
5
(D)
(D)
(D)
83
(D)
(D)
603
(*)
(D)
(D)
(D)
131
‐22
Addendum:
2
2,337,366
1,208,505
42,759
474,485
41,975
66,249
127,431
(D)
78,833
(D)
155,816
88,453
173,114
45,326
214,382
76,522
141,697
European Union
* 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 2018–2019, 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.
U.S. Bureau of Economic Analysis

691,816
139,797
378,330
(D)
6,225
7,565
‐8
32,386
(D)
31,781
5,370
32,645
(D)
11,048
28,813
3,134
25,422
96,868
16,114
71,535
29,978
255
(D)
666
(D)
(D)
41,557
840
13,000
240
(D)
(D)
(D)
(D)
(D)
(D)
277
(D)
0
50
(D)
(D)
95,594
43,796
14,554
(D)
(D)
28,384
(D)
(D)
(D)
4,591
2,210
(D)
233,552