Direct Investment Positions for 2012: Country and Industry Detail

摘要

BOTH OUTBOUND and inbound U.S. foreign direct investment continued to grow in 2012. The U.S. direct investment position abroad valued at historical cost grew 9 percent to $4,453.3 billion after average annual growth of 11 percent in 2001-2011 (table A and chart 1). The foreign direct investment position in the United States valued at historical cost grew 6 percent, to $2,650.8 billion, the same as its average annual rate of growth in 2001-2011. This article presents details on the U.S. direct investment positions valued at historical cost by country and industry. These statistics measure U.S. direct investors' equity in, and net outstanding loans to, their foreign affiliates - the U.S. direct investment position abroad - and foreign direct investors' equity in, and net outstanding loans to, their U.S. affiliates - the foreign direct investment position in the United States. The positions are presented on a historical-cost basis because that is the only basis for which detailed statistics by country and industry are available, unlike the international investment position accounts that are presented on a current-cost and market-value bases. (See the box "Alternative Measures of the Direct Investment Positions.") On a historical-cost basis, positions generally reflect prices at the time of the investment rather than the prices of the current period. This valuation is derived principally from the accounting records of affiliates, which are maintained according to U.S. Generally Accepted Accounting Principles (U.S. GAAP).