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Czech Republic

13. Foreign Direct Investment and Foreign Portfolio Investment Statistics

Table 2:  Key Macroeconomic Data, U.S. FDI in Host Country/Economy
Host Country Statistical source* USG or international statistical source USG or International Source of Data:
BEA; IMF; Eurostat; UNCTAD, Other
Economic Data Year Amount Year Amount  
Host Country Gross Domestic Product (GDP) ($M USD) 2019 $246,577 2018 $245,226 www.worldbank.org/en/country 
Foreign Direct Investment Host Country Statistical source* USG or international statistical source USG or international Source of data:
BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in partner country ($M USD, stock positions) 2018 $1,452 2018 $6,737 BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data
 
Host country’s FDI in the United States ($M USD, stock positions) 2018 $686 2018 N/A BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data
 
Total inbound stock of FDI as % host GDP 2018 67% 2018 64% UNCTAD data available at

https://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Country-Fact-Sheets.aspx
 
 

*Sources:  Czech Statistical Office (www.czso.cz ), Czech National Bank (https://www.cnb.cz/cnb/obiee_pzi ).

As of 2015, the Czech National Bank records cross-border equity capital stocks for quoted shares (in line with the ESA 2010 and BPM6 international manuals) at market value instead of book value, rather than valuing FDI as the sum of historical flows, which is the methodology used by the United States.  As a result, while the 2014 figure for total U.S. FDI stock was listed at USD4.388 billion under the sum of historical flows method, under the new methodology, it is valued at USD1.567 billion.  This explains the large discrepancy between U.S. and Czech figures for 2018.

Table 3:  Sources and Destination of FDI
Direct Investment from/in Counterpart Economy Data
From Top Five Sources/To Top Five Destinations (US Dollars, Millions)
Inward Direct Investment Outward Direct Investment
Total Inward 163,155 100% Total Outward 34,905 100%
Netherlands 30,657 19% Luxembourg 9,776 28%
Luxembourg 27,018 17% Netherlands 8,614 25%
Germany 26,366 16% Cyprus 3,583 10%
Austria 16,242 10% Slovakia 2,763 8%
France 11,883 7% Romania 1,392 4%
“0” reflects amounts rounded to +/- USD 500,000.

The IMF rankings for the top five sources of FDI stock are consistent with data from the Czech National Bank.  IMF rankings for destinations of FDI stock vary – the Czech National Bank ranks the top five destinations as the Netherlands, Luxembourg, Slovakia, Cyprus, and the UK.  IMF and Czech National Bank figures for inward direct investment vary negligibly and figures for outward direct investment vary by up to 4.5 percent.  These small statistical distortions are a result of the global adoption of the recently revised OECD Benchmark Definition for FDI, which is designed to discount investment flows from special purpose entities.

The top sources and destinations of Czech FDI represent a combination of major EU trading partners and favored tax regimes.  In the early 1990s, the Netherlands became a popular place for corporate registration for domestic and foreign businesses active in the Czech Republic.  In recent years, the main rationale for registering a business in the Netherlands was favorable corporate income taxes, stimulating rapid development of offshore corporate structures in the Czech Republic.  While this has dissipated (corporate income tax rates in the Czech Republic and Netherlands are nearly equal), the Netherlands remains a popular platform for large corporations.  Luxembourg attracts Czech businesses for the same reason.  Among other FDI partner countries, Cyprus offers one of the lowest corporate income tax rates in the EU (currently 12.5 percent) and tax exemption of dividends.

Table 4:  Sources of Portfolio Investment
Portfolio Investment Assets
Top Five Partners (Millions, current US Dollars)
Total Equity Securities Total Debt Securities
All Countries 33,702 100% All Countries 18,735 100% All Countries 14,967 100%
Luxembourg 6,954 21% Luxembourg 5,948 32% Netherlands 2,138 14%
United States 3,567 11% United States 2,555 14% Slovakia 2,099 14%
Austria 3,367 10% Belgium 2,236 12% Austria 1,925 13%
Slovakia 2,583 8% Ireland 1,590 9% Poland 1,726 12%
Netherlands 2,359 7% Austria 1,442 8% United States 1,012 7%

The Czech National Bank does not provide its own statistical data on portfolio investments by individual countries but provides a reference to IMF data on its website.  As far as portfolio investment assets for all countries, the 2018 IMF results are consistent with the Czech National Bank’s data

Estonia

13. Foreign Direct Investment and Foreign Portfolio Investment Statistics

Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy
Host Country Statistical Source USG or International Statistical Source USG or International Source of Data:  BEA; IMF; Eurostat; UNCTAD, Other
Economic Data Year Amount Year Amount
Host Country Gross Domestic Product (GDP) ($M USD) 2019 $31,150 2019 $30,900 www.worldbank.org/en/country 
Foreign Direct Investment Host Country Statistical source USG or International Statistical Source USG or International Source of Data:  BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in Partner Country ($M USD, stock positions) 2019 $393 2018 $76 www.bea.gov 
Host Country’s FDI in the United States ($M USD, stock positions) 2019 $205 2018 N/A www.bea.gov 
Total Inbound Stock of FDI as % host GDP 2019 88% 2019 80.3% https://unctad.org/sections/dite_dir/
docs/wir2019/wir19_fs_ee_en.pdf
 
Table 3: Sources and Destination of FDI
Direct Investment from/in Counterpart Economy Data
From Top Five Sources/To Top Five Destinations (US Dollars, Millions)
Inward Direct Investment Outward Direct Investment
Total Inward $27,393 100% Total Outward $10,763 100%
Sweden $6,542 24% Lithuania $2,860 26.6%
Finland $6,330 23% Latvia $2,362 22%
Netherlands $1,741 6.4% Cyprus $1,255 12%
Luxembourg $1,378 5% Finland $824 7.7%
Lithuania $1,174 4.3% Ukraine $309 2.9%
“0” reflects amounts rounded to +/- USD 500,000.
Table 4: Sources of Portfolio Investment
Portfolio Investment Assets
Top Five Partners (Millions, US Dollars)
Total Equity Securities Total Debt Securities
All Countries 15,519 100% All Countries 4,441 100% All Countries 11,078 100%
International Organizations 5,726 37% Luxembourg 1,239 28% International Organizations 5,726 52%
Luxembourg 2,374 15% U.S. 667 15% Luxembourg 1,135 10%
U.S 996 6.4% Ireland 740 16.7% Lithuania 595 5%
Ireland 802 5% Finland 368 8.3% Germany 423 4%
Finland 685 4.4% Sweden 203 4.5% France 329 3%

Source: Bank of Estonia, IMF http://data.imf.org/regular.aspx?key=60587804 

Hungary

13. Foreign Direct Investment and Foreign Portfolio Investment Statistics

Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy
Host Country Statistical source* USG or international statistical source USG or International Source of Data:  BEA; IMF; Eurostat; UNCTAD, Other
Economic Data Year Amount Year Amount  
Host Country Gross Domestic Product (GDP) ($M USD) 2018 $158,739 2018 $157,883 www.worldbank.org/en/country 
Foreign Direct Investment Host Country Statistical source* USG or international statistical source USG or international Source of data:  BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in partner country ($M USD, stock positions) 2018 $2,610 2018 $7,811 BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data
 
Host country’s FDI in the United States ($M USD, stock positions) 2018 $102 2018 $31,137 BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data
 
Total inbound stock of FDI as % host GDP 2018 57% 2018 57% UNCTAD data available at
https://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Country-Fact-Sheets.aspx
 

* Source for Host Country Data: Hungarian Central Bank www.mnb.hu 

Table 3: Sources and Destination of FDI
Direct Investment from/in Counterpart Economy Data
From Top Five Sources/To Top Five Destinations (US Dollars, Millions)
Inward Direct Investment Outward Direct Investment
Total Inward 177,299 100% Total Outward 118,427 100%
Cayman Islands 20,578 11.6% Switzerland 51,164 43.2%
The Netherlands 19,343 10.9% United States 18,323 15.5%
Ireland 19,222 10.8% Ireland 8,727 7.4%
Germany 18,953 10.7% The Netherlands 5,349 4.6%
United States 18,331 10.3% Croatia 4,270 3.6%
“0” reflects amounts rounded to +/- USD 500,000.
Table 4: Sources of Portfolio Investment
Portfolio Investment Assets
Top Five Partners (Millions, current US Dollars)
Total Equity Securities Total Debt Securities
All Countries 15052 100% All Countries 8599 100% All Countries 5454 100%
Luxembourg 4166 29.6% Luxembourg 3264 38.0% Luxembourg 902 16.5%
United States 1796 12.8% United States 1610 18.7% Austria 365 6.7%
Austria 938 6.7% Belgium 517 6.8% Czech Rep. 364 6.7%
Germany 660 4.7% Austria 573 6.7% Slovak Rep. 287 5.3%
Poland 523 3.7% Germany 555 6.5% Croatia 257 4.7%

Latvia

13. Foreign Direct Investment and Foreign Portfolio Investment Statistics

Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy
Host Country Statistical source* USG or international statistical source USG or International Source of Data:  BEA; IMF; Eurostat; UNCTAD, Other
Economic Data Year Amount Year Amount  
Host Country Gross Domestic Product (GDP) ($M USD) 2019 EUR 30.4 billion 2018 $34.4 billion https://data.worldbank.org/
country/latvia
 
Foreign Direct Investment Host Country Statistical source* USG or international statistical source USG or international Source of data:  BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in partner country ($M USD, stock positions) 2019 EUR 140 million 2018 $ 191 million BEA data available at http://data.imf.org/regular.aspx?key=61227424 
Host country’s FDI in the United States ($M USD, stock positions) 2019 EUR 76 million 2018 $ 121 million BEA data available at http://data.imf.org/regular.aspx?key=61227424 
Total inbound stock of FDI as % host GDP 2018 50% 2018 49.6% UNCTAD data available at
https://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Country-Fact-Sheets.aspx
 
 http://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Annex-Tables.aspx
 

* Source for Host Country Data: http://www.fm.gov.lv/en/s/macroeconomics/main_macroeconomic_indicators/   https://statdb.bank.lv 
https://data.oecd.org/fdi/fdi-stocks.htm 

Table 3: Sources and Destination of FDI
Direct Investment from/in Counterpart Economy Data
From Top Five Sources/To Top Five Destinations (US Dollars, Millions)
Inward Direct Investment Outward Direct Investment
Total Inward 17,411 100% Total Outward 2,003 100%
Sweden 3,055 17.54% Lithuania 542 27.05%
Russian Federation 1,913 10.98% Estonia 195 9.73%
Estonia 1,739 9.98% United States 121 6.04%
Netherlands 1,246 7.15% Russian Federation 116 5.79%
Cyprus 1,238 7.11% Luxembourg 115 5.74%
“0” reflects amounts rounded to +/- USD 500,000.
Table 4: Sources of Portfolio Investment
Portfolio Investment Assets
Top Five Partners (Millions, current US Dollars)
Total Equity Securities Total Debt Securities
All Countries 16,973 100% All Countries 3,775 100% All Countries 13,193 100%
International Organizations 5,665 33.37 % Ireland 1,659 43.95 % International Organizations 5,629 42.66 %
Luxembourg 3,249 19.14 %  Luxembourg 1,502 39.79 % Luxembourg 1,747 13.24 %
Ireland 1,922 11.32 % Germany 109 2.89 % Lithuania 907 6.87 %
Lithuania 932 5.49 % Estonia 108 2.86 % Italy 574 4.34 %
Italy 575 3.38 % United States 75 1.98 % Spain 564 4.27 %

Luxembourg is considered a tax haven and it is believed that the ultimate source of this portfolio investment is primarily Russia.

Lithuania

13. Foreign Direct Investment and Foreign Portfolio Investment Statistics

Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy
Host Country Statistical source* USG or international statistical source USG or International Source of Data:
BEA; IMF; Eurostat; UNCTAD, Other
Economic Data Year Amount Year Amount
Host Country Gross Domestic Product (GDP) ($Billion USD) 2019 $54 2018 $53 www.worldbank.org/en/country 
Foreign Direct Investment Host Country Statistical source* USG or international statistical source USG or international Source of data:
BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in partner country ($M USD, stock positions) 2018 $245 2018 $171 BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data
 
Host country’s FDI in the United States ($M USD, stock positions) 2018 $12.2 2017 $N/A BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data
 
Total inbound stock of FDI as % host GDP 2019 37 2018 33 UNCTAD data available at
https://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Country-Fact-Sheets.aspx
 

* Source for Host Country Data: Lithuanian Statistics Department and Bank of Lithuania

Table 3: Sources and Destination of FDI
Direct Investment from/in Counterpart Economy Data
From Top Five Sources/To Top Five Destinations (US Dollars, Millions)
Inward Direct Investment Outward Direct Investment
Total Inward 20, 349 100% Total Outward 4, 653 100%
Sweden #1 3, 475 17% Latvia #1 1052 22.6%
Estonia #2 3, 240 14.2% Netherlands #2 816 17.5%
Netherlands #3 2, 815 13.8 Cyprus #3 770 16.5%
Germany #4 1,468 7.2% Estonia #4 770 16.5%
Cyprus #5 1,400 6.8% Poland #5 264 5.6%
“0” reflects amounts rounded to +/- USD 500,000.
Table 4: Sources of Portfolio Investment
Portfolio Investment Assets
Top Five Partners (Millions, US Dollars)
Total Equity Securities Total Debt Securities
All Countries 9,976 100% All Countries 2,826 100% All Countries 7,150 100%
Luxembourg 1,190 11.9% Luxembourg 1,151 40.7% Latvia 299 4.1%
Ireland 1,111 11.1% Ireland 1,078 38.1% Netherlands 189 2.6%
Latvia 314 3.1% United States 99 3.5% Poland 146 2%
Sweden 164 1.6% Estonia 94 3.3% Sweden 122 1.7%
Poland 151 1.5% Germany 57 2% Germany 112 1.6%

Poland

13. Foreign Direct Investment and Foreign Portfolio Investment Statistics

Table 2: Key Macroeconomic Data, U.S. FDI in Host Country/Economy
Host Country Statistical source* USG or international statistical source USG or International Source of Data:  BEA; IMF; Eurostat; UNCTAD, Other
Economic Data Year Amount Year Amount  
Host Country Gross Domestic Product (GDP) ($M USD) 2018 $589,800 2018 $585,700 www.worldbank.org/en/country 
Foreign Direct Investment Host Country Statistical source* USG or international statistical source USG or international Source of data:  BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in partner country ($M USD, stock positions) 2018 $4,822 2018 $12,977 BEA data available at https://www.bea.gov/international/
direct-investment-and-multinational-enterprises-comprehensive-data
 
Host country’s FDI in the United States ($M USD, stock positions) 2018 $747 2018 $N/A ** BEA data available at https://www.bea.gov/international/
direct-investment-and-multinational-enterprises-comprehensive-data
 
Total inbound stock of FDI as % host GDP 2018 37.3% 2018 39.6% UNCTAD data available at
https://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Country-Fact-Sheets.aspx
 

* In Poland, the National Bank of Poland (NBP) collects data on FDI.  An annual FDI report and data are published at the end of the following year.  GDP data are published by the Central Statistical Office.  Final annual data are available at the end of May of the following year.

Table 3: Sources and Destination of FDI
Direct Investment from/in Counterpart Economy Data (end of 2018)
From Top Five Sources/To Top Five Destinations (US Dollars, Millions)
Inward Direct Investment Outward Direct Investment
Total Inward 228,522 100% Total Outward 24,595 100%
The Netherlands 48,771 21% Luxembourg 7,490 30%
Germany 39,880 17% Czech Republic 2,767 11%
Luxemburg 32,459 14% The Netherlands 2,519 10%
France 20,725 9% Hungary 1,821 7%
Spain 10,849 5% Germany 1,611 6.5%
“0” reflects amounts rounded to +/- USD 500,000.

Results of table are consistent with the data of the National Bank of Poland (NBP).  NBP publishes FDI data in October/November.
A number of foreign countries register businesses in the Netherlands, Luxemburg and Cyprus, hence results for these countries include investments from other countries/economies.

Table 4: Sources of Portfolio Investment
Portfolio Investment Assets (end of June 2019)
Top Five Partners (Millions, current US Dollars)
Total Equity Securities Total Debt Securities
All Countries 37,087 100% All Countries 21,066 100% All Countries 16,021 100%
Luxemburg 5,497 15% Luxemburg 4,573 22% Int’l Orgs 4,352 27%
Int’l Orgs 4,352 12% Ireland 909 4% Czech Rep. 1,471 9%
Czech Rep. 1,889 5% Germany 745 4% Sweden 928 6%
France 1,271 3% Hungary 554 3% Luxemburg 923 6%
Hungary 1,112 3% Austria 549 3% France 758 5%

Note: NBP publishes only total amounts of portfolio investment assets.
Results of the table are consistent with data from the National Bank of Poland (NBP). NBP publishes FDI data in October/November.
A number of foreign countries register businesses in the Netherlands, Luxemburg and Cyprus hence results for these countries include investments from other countries/economies.

Investment Climate Statements
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