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Investment Climate Statements

Custom Report Excerpts:

Greece, Italy, Netherlands, Poland, United Kingdom

Bureau of Economic and Business Affairs

Greece

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 $218.32 billion 2017 $203.08 billion www.worldbank.org/en/country 
Foreign Direct Investment Host Country Statistical source* USG or international statistical source  USG or international Source of data:  BEA; IMF; Eurostat; UNCTAD, Other 
U.S. FDI in partner country ($M USD, stock positions) 2018 $915.9 million 2017 $935.9 million BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data 
https://www.bankofgreece.gr/en/
statistics/external-sector/direct-
investment/direct-investment—stocks 
Host country’s FDI in the United States ($M USD, stock positions) 2018 $2.36 billion 2017 $2.2 billion BEA data available at
https://www.bea.gov/international/
direct-investment-and-multinational-
enterprises-comprehensive-data 
https://www.bankofgreece.gr/en/
statistics/external-sector/direct-
investment/direct-investment—stocks 
Total inbound stock of FDI as % host GDP 2018 $33.6 billion 2018 15.4% UNCTAD data available at
https://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Country-Fact-Sheets.aspx  

* Source for Host Country Data: https://www.bankofgreece.gr/en/statistics/external-sector/direct-investment/direct-investment—stocks 

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 34,853 100% Total Outward 19,555 100%
Germany 7,927 22.7% Cyprus 5,032 25.7%
Luxembourg 7,566 21.7% United States 2,504 12.8%
Netherlands 5,443 15.6% China: Hong Kong 2,208 11.3%
Switzerland 3,558 10.2% Netherlands 2,024 10.4%
France 1,706 4.9% Romania 1,786 9.1%
“0” reflects amounts rounded to +/- USD 500,000.

The results are consistent with host country data found here: https://www.bankofgreece.gr/en/statistics/external-sector/direct-investment/direct-investment—stocks 

Table 4: Sources of Portfolio Investment  
Portfolio Investment Assets
Top Five Partners (Millions, current US Dollars)
Total Equity Securities Total Debt Securities
All Countries 124,346 100% All Countries 10,467 100% All Countries 113,879 100%
Luxembourg 40,976 33% Luxembourg 6,356 60.7% Luxembourg 34,620 30.4%
Italy 11,004 8.8% Ireland 1,636 15.6% Italy 10,990 9.7%
Ireland 9,551 7.7% Belgium 847 8% United Kingdom 8,059 7.1%
United Kingdom 8,134 6.5% United States 475 4.5% Ireland 7,915 7%
Spain 7,504 6% France 344 3.3% Spain 7,474 6.6%

The results are consistent with host country data.

Italy

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 €1,787,664 2018 $2,083,864 www.worldbank.org/en/country 
Foreign Direct Investment Host Country Statistical source* USG or international statistical source USG or international Source of data:  BEA; IMF; Eurostat; UNCTAD, Other
U.S. FDI in partner country ($M USD, stock positions) 2018 €10,696 2018 $38,479 BEA data available at https://www.bea.gov/international/direct-investment-and-multinational-enterprises-comprehensive-data 
Host country’s FDI in the United States ($M USD, stock positions) 2018 €36,670 2018 $38,626 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 23.9% 2018 20.8% UNCTAD data available at
https://unctad.org/en/Pages/DIAE/
World%20Investment%20Report/
Country-Fact-Sheets.aspx 

* Italian GDP data are taken from ISTAT, the official statistics agency.  ISTAT publishes preliminary year end GDP data in early February and issues revised data in early March.  Italian FDI data are from the Bank of Italy and are the latest available; new data are released in May.

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 $426,429 100% Total Outward $554,303 100%
France $92,843 22% The Netherlands $64,351 12%
The Netherlands $75,230 18% Luxembourg $44,905 8%
Luxembourg $75,105 18% Germany $44,134 8%
United Kingdom $55,049 13% United States $42,275 8%
Germany $33,810 8% Spain $40,186 7%
“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 1,648,337 100% All Countries $1,009,969 100% All Countries $638,368 100%
Luxembourg 686,927 42% Luxembourg $661,365 65% Spain $107,486 17%
France 170,664 10% Ireland $144,680 14% France $98,665 15%
Ireland 161,766 10% France $72,008 7% United States $95,712 15%
United States 139,134 8% United States $43,421 4% Germany $52,897 8%
Spain 112,195 7% United Kingdom $23,329 2% Nether-lands $49,425 8%

The statistics above show Italy’s largest investment partners to be within the European Union and the United States.  This is consistent with Italy being fully integrated with its EU partners and the United States.

Netherlands

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 $ 909,000 2018 $ 913,658 World Bank
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 $ 852,871 2018 $ 883,188 BEA
Host country’s FDI in the United States ($M USD, stock positions) 2018 $ 992,500 2018 $ 479,039 BEA
Total inbound stock of FDI as % host GDP 2018 582% 2018 699% Total outbound stock of FDI as % of GDP

* Source for Host Country Data: CBP, DNB (see notes below)
Note 1:  Host country source for GDP 2019 is The Netherlands Bureau for Economic Policy Analysis (CPB). CPB provides more recent data than World Bank.  For a breakdown of Dutch GDP, see: https://www.cpb.nl/en/central-economic-plan-cep-2020-mlt 
Note 2:  Host country source for FDI stocks and flows is the Dutch Central Bank (DNB).  For Dutch outward FDI destined for the U.S., the accumulated value in 2018 is 865,458 million euros and for inbound FDI originating from U.S. the accumulated value in 2018 is 743,704 million euros.  The dollar value of Dutch FDI numbers is obtained with the official Treasury annual rate for 2018 of USD = 0.872 euros.  This shows $992,500 million for FDI outbound towards the U.S. and $852,871 million for FDI inbound from the U.S.

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 (2018) Outward Direct Investment (2018)
Total Inward 4,722,571 100% Total Outward 5,765,130 100%
United States 756,132 16% United States 888,649 15%
Luxemburg 559,089 12% United Kingdom 647,469 11%
United Kingdom 545,814 12% Switzerland 497,024 9%
Switzerland 302,954 6% Germany 332.143 6%
Ireland 286,517 6% Luxemburg 305,544 5%
“0” reflects amounts rounded to +/- USD 500,000.
Table 4: Sources of Portfolio Investment
Portfolio Investment Assets (December 2017)
Top Five Partners (Millions, US Dollars)
Total Equity Securities Total Debt Securities
All Countries 2,017,438 100% All Countries 1,004,598 100% All Countries 1,012,840 100%
United States 524,980 26% United States 358,264 36% Germany 209,473 21%
Germany 239,179 12% Luxemburg 98,833 10% United States 166,715 16%
France 201,006 10% United Kingdom 73,132 7% France 163,018 16%
United Kingdom 128,194 6% Ireland 67,182 7% United Kingdom 55,062 5%
Luxemburg 119,144 6% Japan 47,105 5% Belgium 49,963 5%

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.

United Kingdom

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 $2,850,000 2018 $2,666,000 https://data.worldbank.org/country/united-kingdom  
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 $367,395 2018 $757,781 BEA data available at
www.bea.gov/international/factsheet  /
Host country’s FDI in the United States (M USD, stock positions) 2018 $367,000 2018 $579,219 https://www.selectusa.gov/
country-fact-sheet/United-Kingdom  
Total inbound stock of FDI as percent host GDP 2018 17.6% 2018 36.5% Calculated using respective
GDP and FDI data
Table 3: Sources and Destination of FDI 
Direct Investment from/in Counterpart Economy 

From Top Five Sources/To Top Five Destinations (USD, Billions)
Inward Direct Investment 2018 Outward Direct Investment 2018
Total Inward 2,028.9 Proportion Total Outward 1,753 Proportion
USA 556.6 27.4% USA 344.4 19.6%
Netherlands 183.7 9.0% Netherlands 204.5 11.7%
Luxembourg 148.2 7.3% Luxembourg 149.5 8.5%
Belgium 126 6.2% France 105.4 6.0%
Japan 119.3 5.9% Spain 94.9 5.4%
Table 4: Sources of Portfolio Investment
Portfolio Investment Assets
Top Five Partners (USD Millions)
Total Equity Securities Total Debt Securities
Country Amount % Country Amount %  Country Amount %
USA 1,150,129 34% USA 711,877 37% USA 438,252 33%
Ireland 246,975 7% Ireland 200,933 10% France 108,245 8%
France 191,416 6% Japan 126,848 6% Germany 107,224 8%
Japan 179,273 5% Luxembourg 104,678 5% Netherlands 70,922 5%
Germany 173,635 5% France 83,170 4% Japan 52,425 4%
Investment Climate Statements
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