OECD international direct investment statistics 2013.

236 Pages·2013·3.052 MB·English

by  OECD

AvAilAble on line
OECD International Direct Investment Statistics 2
0
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Driven by technological change, global competition and the liberalisation of markets, international direct
investment plays a key role in the process of global economic integration. oeCD compiles and disseminates
reliable and up-to-date statistics which are essential for a meaningful interpretation of investment trends for
informed policy making. These statistics are based on official reports by oeCD countries for investments
worldwide. internationally comparable data makes it possible to measure the degree of economic integration
and competitiveness of markets. Quarterly data for international direct investment flows in US dollars are available
for the first time in this edition.
ECONOMIES COVERED
Australia, Austria, belgium, Canada, Chile, Czech Republic, Denmark, estonia, Finland, France, Germany, Greece,
Hungary, iceland, ireland, israel, italy, Japan, Korea, luxembourg, Mexico, netherlands, new Zealand, norway,
Poland, Portugal, Slovak Republic, Slovenia, Spain, Sweden, Switzerland, Turkey, United Kingdom, United States. OECD
Argentina, brazil, China, india, indonesia, Russian Federation, Saudi Arabia, South Africa.
International
Also available on CD-ROM and on line
The data in this publication are also available on line via www.oecd-ilibrary.org under the title
OECD International Direct Investment Statistics (http://dx.doi.org/10.1787/idi-data-en).
Direct Investment
An offline edition of the database, providing data in CSv format is available on CD-RoM under the title
OECD International Direct Investment Statistics 2013.
Statistics
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Consult this publication on line at http://dx.doi.org/10.1787/idis-2013-en. t
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This work is published on the oeCD ilibrary, which gathers all oeCD books, periodicals and statistical databases.
visit www.oecd-ilibrary.org for more information.
2013
ISbN 978-92-64-19166-2 -:HSTCQE=V^V[[W:
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OECD International
Direct Investment
Statistics
2013
SUBTITLE
Volume 2011/Number of issue, Year of edition
Author (affiliation or title), Editor
Tagline
This work is published on the responsibility of the Secretary-General of the OECD. The
opinions expressed and arguments employed herein do not necessarily reflect the official
views of the Organisation or of the governments of its member countries.
This document and any map included herein are without prejudice to the status of or
sovereignty over any territory, to the delimitation of international frontiers and boundaries
and to the name of any territory, city or area.
Please cite this publication as:
OECD (2013), OECD International Direct Investment Statistics 2013, OECD Publishing.
http://dx.doi.org/10.1787/idis-2013-en
ISBN 978-92-64-19166-2 (print)
ISBN 978-92-64-19167-9 (PDF)
ISBN 978-92-64-00000-0 (HTML)
Series/Periodical:
ISSN 0000-0000 (print)
ISSN 0000-0000 (online)
The statistical data for Israel are supplied by and under the responsibility of the relevant Israeli authorities. The use
of such data by the OECD is without prejudice to the status of the Golan Heights, East Jerusalem and Israeli
settlements in the West Bank under the terms of international law.
Corrigendum
Revised version April2013
The following list provides a description of the changes made to the publication since the original version was
printed.
PARTII.
Country tables:
Tables1 and2: for all countries, data for Chile, Estonia, Israel and Slovenia have been included for the years of their
OECD membership.
Table3: outward investment data have been corrected for all counries.
Page232: Notes to Country Tables:
● Tables1 and2: (additional note)
❖ Data prior to2010 for Chile, Estonia, Israel and Slovenia as partner countries are available and can be accessed
at http:/dx.doi.org/10.1787/idi-data-en.
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© OECD 2013
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FOREWORD
Foreword
T
his annual publication gathers detailed statistics for inward and outward foreign direct
investment flows and positions (stocks) of OECD countries. Comparative tables and charts
complement the information included for the statistics of each OECD country broken down by partner
countries worldwide and by economic activity. The aim is to provide a reliable and comprehensive
source of information to OECD governments, potential investors, globalisation analysts and the
public at large. FDI database used for this publication is updated regularly from national sources of
OECD countries and provides the basis for periodical analyses of direct investment trends and for
regular examinations of policies towards international direct investment in Member countries.
This publication was prepared by EmilieKothe with the supervision of AyseBertrand of the
Investment Division but could not have been achieved without the contributions of the experts of the
OECD Working Group on International Investment Statistics of the Investment Committee and the
national administrations which they represent.
OECD INTERNATIONAL DIRECT INVESTMENT STATISTICS – © OECD 2013
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TABLE OF CONTENTS
Table of contents
Conventional signs and abbreviations . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 6
Introduction . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Part I. Comparative tables and charts . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 11
Tables
1.Foreign direct investment inflows, USdollars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 12
2.Foreign direct investment outflows, USdollars. . . . . . . . . . . . . . . . . . . . . . . . . . . . 13
3.Foreign direct investment flows as a percentage of GDP . . . . . . . . . . . . . . . . . . . . 16
4.Foreign direct investment positions (stocks), USdollars . . . . . . . . . . . . . . . . . . . . 18
5.Foreign direct investment positions (stocks) as a percentage of GDP. . . . . . . . . . 19
6.Foreign direct investment income, USdollars . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 22
Charts
1.Global FDI inflows. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
2.Global FDI outflows . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14
3.FDI flows of OECD as a share of global FDI flows. . . . . . . . . . . . . . . . . . . . . . . . . . . 14
4.FDI flows of OECD by type. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
5.FDI flows of OECD by source and destination, 2011. . . . . . . . . . . . . . . . . . . . . . . . . 15
6.FDI flows of OECD by economic sector . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15
7.FDI flows as a percentage of GDP, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 17
8.Global inward FDI positions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
9.Global outward FDI positions . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 20
10.FDI positions of OECD as a share of global FDI positions. . . . . . . . . . . . . . . . . . . . 20
11.FDI positions of OECD by type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
12.FDI positions of OECD by source and destination, at end-2011. . . . . . . . . . . . . . . 21
13.FDI positions of OECD by economic sector. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 21
14.FDI income of OECD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
15.FDI income of OECD by type . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
16.Total OECD rate of return on FDI . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 23
Part II. Country tables . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25
Australia. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 26
Austria . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 32
Belgium . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 38
Canada . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 44
Chile . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 50
Czech Republic . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 56
Denmark . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 62
Estonia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 68
Finland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 74
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France. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 80
Germany. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 86
Greece. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 92
Hungary . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 98
Iceland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 104
Ireland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 110
Israel. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 116
Italy. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 122
Japan. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 128
Korea. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 134
Luxembourg. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 140
Mexico . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 146
Netherlands. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 152
New Zealand . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 158
Norway. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 164
Poland. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 170
Portugal . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 176
Slovak Republic. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 182
Slovenia . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 188
Spain. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 194
Sweden. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 200
Switzerland . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 206
Turkey. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 212
United Kingdom . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 218
United States. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 224
General notes . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 231
Conventional signs and abbreviations
..: Not available
c: Confidential
d: Secondary confidentiality
n: Not publishable
z: Absolute zero observation
w: Excluding data not disclosed separately
e: Estimation by the Secretariat
ASEAN: Association of Southeast Asian Nations
BRICs: Brazil, Russian Federation, India, China
NAFTA: North American Free Trade Association
Cut-off date for the data: 20 January 2013
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INTRODUCTION
Introduction
G
lobal foreign direct investment flows (FDI) fell sharply in2009 (by 38%) from the previous year but
the recovery which was recorded in2010 (annual increase of 24%) continued modestly in2011, reaching
some USD1637trillion (annual increase of 16%). However, preliminary estimates for2012 indicate that
FDI flows dropped for three consecutive quarters confirming a declining trend since the beginning of the
year. Global flows for the first nine months of2012 were, in aggregate, USD959billion (18% lower than
a year earlier). The stock of global FDI stood at USD21.1trillion at end-2011.
In2012, China became the first FDI destination world-wide while the UnitedStates maintained
its position as the leading investing economy. During the period January-September2012, China
attracted the lion’s share of global FDI flows with USD170billion followed by the UnitedStates
(USD104billion), Brazil (USD48billion), the UnitedKingdom (USD47billion), and France
(USD46billion). These five economies hosting FDI received 45% of global inflows during the first
nine months of2012 (as compared to 37% in the first three quarters of2011).
The slowdown of cross-border investments which started in the second half of2008 continued
in2009 when FDI flows of OECD were divided by two as compared to historically high investments
in2007. FDI inflows in2009 dropped to USD648billion (USD1359billion in2007) and outflows to
USD913billion (USD1929billion in2007). However, cross-border investments of OECD economies
picked up in2010 and2011. In2010, FDI inflows to the region increased less significantly (by 10%
to USD711billion) as compared to the outflows (which increased by 19% to USD1090billion).
In2011, OECD economies attracted USD855billion FDI (annual increase of 20%) while OECD
investments abroad have grown more modestly (by 17% to USD1274billion). The share of
intercompany debt for both inflows and outflows decreased since2008 (to 19% of inflows and to 13%
of outflows in2011) while the share of reinvestment of earnings increased, in particular for outflows
(24% of inflows and 39% of outflows).
During the first nine months of2012, FDI inflows to OECD dropped by 26% from a year earlier
(33% in the European Union to USD209billion), representing 47% of global inflows (51% a year
earlier). This decline was largely due to significant decreases in Italy (by 95% from a year earlier to
USD1.2billion), Belgium (by 80% to USD14billion), the UnitedStates (by 34% to USD104billion)
and Germany which recorded negative inflows at -1.3billion as a result of both disinvestments (in
equity) and intercompany debt. These declines were partly offset by a significant recovery (annual
increase of 45%) of FDI received by France, to USD46billion.
OECD countries continue to be exporters of capital with net outflows of USD419billion in2011.
While the OECD area remains as the major source of FDI flows worldwide, in2011 only 67% of
OECD outflows (90% in2000) were targeted to other OECD countries, a development which confirms
the growing diversification of OECD investments in terms of host countries. On the other hand, 86%
(96% in2000) of inflows in the OECD area was sourced by OECD countries. Nevertheless, as host of
investment worldwide, OECD’s relative importance has been decreasing by almost one third in the
last decade or so, when a growing number of non-OECD countries performed very well in attracting
foreign direct investment flows.
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INTRODUCTION
At USD801billion, OECD’s FDI outflows represented 80% of global outflows for the period
January-September2012. In the same period, the UnitedStates, the largest single investing economy
world-wide, recorded USD281billion outflows which accounted for 28% of global outflows (or 35%
of OECD or 39% of G20 economies). Other significant investing countries during the first three
quarters of2012 were Japan (USD 88billion), the UnitedKingdom (USD78billion), Germany
(USD55billion), France (USD47billion) and China (USD42billion).
At end-2011, stock of inward FDI for the OECD area as a whole was USD13.4trillion (or 29%
of its GDP) while outward investments reached USD17.9trillion (or 39% of its GDP). The stock of
OECD’s direct investment at end-2011 was approximately nine times more than at end-1990.
Regarding the economic sectors attracting FDI, the most dominant sector for OECD’s direct
investment is the service sector which accounted for 61% (USD7639billion) of its inward
investment stocks at end-2011 and 65% of outward investments (USD11187billion). This is
followed by the manufacturing sector which represents 24% (USD3001billion) of inward
investment stocks and 22% of outward investments (USD3837billion).
The present publication relies on a database developed by the OECD Directorate for Financial and
Enterprise Affairs for comprehensive statistics on foreign direct investment. The database is sourced by
official FDI statistics of thirty-four OECD members published by Central Banks and/or National
Statistical Offices. The statistics cover FDI transactions (financial and income flows) and positions
(stocks). Data are broken down by bilateral partner countries (worldwide) and by economic activity. All
the statistics in this publication are presented in UnitedStates dollars to facilitate cross-country
comparison. However, the same data series can be accessed electronically in national currencies at:
http://dx.doi.org/10.1787/idi-data-en.
The publication is organised in two parts:
i)Part1. Comparative tables comprises tables and charts, in broad aggregates, providing an
overview for the period2007-11 of inward and outward FDI flows and positions of thirty four
OECD countries and eight non-OECD members of the G20. Moreover, quarterly estimates are
included for FDI flows for the first three quarters of2012. The data presented in this part are
mostly derived from balance of payments and international investment position statistics and,
therefore, may have minor differences from detailed foreign direct investment statistics presented
in Part2 and in some of the charts. For most recent data, the reader may access quarterly releases
of the FDI in Figures which may be downloaded from the OECD investment statistics web site:
www.oecd.org/investment/statistics.htm.
ii)Part2. Country tables represent the bulk of the publication. Its focus is FDI statistics of
individual countries. For each OECD country, there are four standard tables on inward and
outward FDI flows and positions for the period2007-11. The first two tables are geographical
breakdowns of flows and positions by partner country; the other two tables present sectoral
breakdowns according to ISIC3 (International Standard for Industry Sectors) classification. The
publication covers a large selection of geographical and sectoral information; additional
breakdowns are available and can be accessed at: http://dx.doi.org/10.1787/idi-data-en.
The methodology for foreign direct investment statistics are based on the OECD Benchmark
Definition of Foreign Direct Investment, 3rdedition and the IMF Balance of Payments
Manual, Fifth Edition. OECD members have made efforts since the issuance of these manuals
in1995 to improve international comparability (see also further details on Foreign Direct
Investment Statistics-How countries measure FDI (IMF/OECD, 2003).
Direct investment is a category of cross-border investment made by a resident in one economy
(the direct investor) with the objective of establishing a lasting interest in an enterprise (the direct
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INTRODUCTION
investment enterprise) that is resident in an economy other than that of the direct investor. The
motivation of the direct investor is a strategic long-term relationship with the direct investment
enterprise to ensure a significant degree of influence by the direct investor in the management of the
direct investment enterprise. The “lasting interest” is evidenced when the direct investor owns at
least 10% of the voting power of the direct investment enterprise. Direct investment may also allow
the direct investor to gain access to the economy of the direct investment enterprise which it might
otherwise be unable to do.
Direct investment enterprises are corporations, which may either be subsidiaries, in which over
50% of the voting power is held, or associates, in which between10 and 50% of the voting power is
held, or they may be quasi-corporations such as branches which are effectively 100% owned by their
respective parents. The relationship between the direct investor and its direct investment enterprises
may be complex and bear little or no relationship to management structures. Direct investment
relationships are identified according to specific criteria.
Direct investment statistics cover all cross-border transactions and positions between
enterprises which are a part of the same group of enterprises. FDI statistics include direct investment
positions (equity and other capital), direct investment income flows (distributed earnings, reinvested
earnings, interest income) and direct investment financial flows (equity, reinvested earnings and
debt). While FDI financial flows inform on investment trends in a given period, FDI positions provide
the basis for structural analysis.
The geographical allocation of FDI in this publication represents transactions/positions recorded
for the first counterpart, i.e.for the immediate partner country (as opposed to ultimate investor or
ultimate host). The classification for economic activity should, in principle, represent the activity of the
direct investment enterprise, i.e.the activity of the resident direct investment enterprise for inward
investments and the activity of the non-resident direct investment enterprise for outward investments.
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