Foreign direct investment stock statistics

Transkript

1 Foreign direct investment stock statistics Special Statistical Publication 10

2 Foreign direct investment stock statistics 2 Deutsche Bundesbank Wilhelm-Epstein-Strasse Frankfurt am Main Germany Postal address Postfach Frankfurt am Main Germany The Statistical Supplement Balance of payments statistics, which is augmented annually by this Special Statistical Publication is published at monthly intervals by the Deutsche Bundesbank, Frankfurt am Main, by virtue of section 18 of the Bundesbank Act. It is available to interested parties free of charge. Further statistical data, supplementing the Monthly Report, are to be found in the following supplements. Tel or /2483 Fax Banking statistics Capital market statistics Seasonally adjusted business statistics Exchange rate statistics monthly monthly monthly quarterly Reproduction permitted only if source is stated. ISSN (online edition) This Annex provides an English translation of the headings and explanatory notes to the data contained in the German original dated, which is the sole authoritative text. Selected updated statistics are also available on the website. Additionally, a CD-ROM containing roughly 40,000 published Bundesbank time series, which is updated monthly, may be obtained for a fee from the Bundesbank s Statistical Information Systems and Mathematical Methods Division or downloaded from the Bundesbank s ExtraNet platform.

3 Foreign direct investment stock statistics 3 Contents I German foreign direct investment abroad 1 German corporate assets, by type of capital links, asset or liability position and economic activity (a) in all countries... 6 (b) in EU member states... 6 (c) in the United States Direct investment and important operating variables of enterprises abroad (a) by country of investment... 7 (b) by economic activity Primary and secondary direct investment, by country of investment and economic activity (a) of the German investors (b) of the foreign investment enterprises Primary and secondary direct investment, by economic activity of the German investors and of the foreign investment enterprises (a) in all countries (b) in EU member states (c) in the United States II Foreign direct investment in Germany 1 Foreign corporate assets, by type of capital links, asset or liability position and economic activity (a) from all countries (b) from EU member states (c) from the United States Direct investment and important operating variables of enterprises in Germany (a) by country of investor (b) by economic activity of the investment enterprises Primary and secondary direct investment, by country of investor and economic activity of the investment enterprises Methodological notes List of countries Special Statistical Publications... 27

4 Foreign direct investment stock statistics 4 Notes The latest figures must in all cases be regarded as provisional; subsequent revisions which appear in the following issue of this Special Statistical Publication are therefore not specially marked. Annual production value at credit institutions Credit institutions annual production value is recorded and shown under annual turnover in billions of euro. The annual production value consists of the net interest received, current income from shares and other variable-rate securities, commissions, the net result of financial operations and other operating income. Abbreviations and symbols r Revised. Figure unknown, not to be published or not meaningful 0 Less than 0.5 but more than nil Nil Discrepancies in the totals are due to rounding.

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6 Foreign direct investment stock statistics 6 I German foreign direct investment abroad 1 German corporate assets, by type of capital links, asset or liability position and economic activity (a) in all countries (b) in EU member states (27) (c) in the United States End of year Economic activity of enterprises abroad (investment enterprises) (pages 6 7, 8 9 and of the German original) Item All economic activities Manufacturing Wholesale and retail trade, repair of motor vehicles and motorcycles Monetary intermediation Trusts, funds and similar financial entities; other financial service activities, except insurance and pension funding Insurance, reinsurance and pension funding, except compulsory social security Activities of holding companies German direct investment in million Primary German direct investment abroad Direct interests in nominal capital Direct pro rata reserves 1 Primary German investment capital Direct lending by German shareholders 2 Lending by other affiliated enterprises in Germany 2 Aggregate primary German direct investment Primary and secondary German direct investment abroad (consolidated) 3 Direct interests in nominal capital Interests of dependent holding companies in nominal capital Direct pro rata reserves 1 Pro rata reserves held by dependent holding companies 1 Primary and secondary German investment capital Direct lending by German shareholders 2 Lending by other affiliated enterprises in Germany 2 Lending by dependent holding companies Aggregate primary and secondary German direct investment Memo items Other German corporate assets abroad resulting from indirect capital interests 4 Lending by dependent primary shareholders abroad Aggregate other German corporate assets abroad Lending by enterprises abroad with German capital interests to German shareholders Data on enterprises abroad Enterprises with direct German capital interests Number Employees in thousands Annual turnover in billion Balance sheet figures in billion: Capital Fixed assets Financial assets Balance sheet total Enterprises with indirect German capital interests Number Employees in thousands Annual turnover in billion Balance sheet figures in billion: Capital Fixed assets Financial assets Balance sheet total Indirect interests in nominal capital Indirect pro rata reserves 1 Indirect investment capital Footnotes (a) to (c) on pages Including profits, less losses. 2 Also includes direct lending to enterprises with indirect German capital interests. 3 Excluding primary direct investment in dependent holding companies, ie excluding interests in the nominal capital and reserves of dependent holding companies and excluding lending to dependent holding companies. 4 Excluding secondary direct investment through dependent holding companies.

7 Foreign direct investment stock statistics 7 I German foreign direct investment abroad 2 Direct investment and important operating variables of enterprises abroad (a) by country of investment End of year (pages of the German original) Europe EU member states Euro-area member states 1 All countries Total Total Total Belgium Estonia Finland France Greece Ireland Italy Luxembourg Malta Netherlands Austria Portugal Slovakia Slovenia Spain Cyprus 1 From 2011 including Estonia. End of year (pages of the German original) Europe (cont d) EU member states (cont d) Other EU member states 1 Total Bulgaria Denmark Latvia Lithuania Poland Romania Sweden Czech Republic Other European countries Hungary United Kingdom Total Belarus Bosnia and Herzegovina Guernsey Isle of Man Jersey Croatia 1 From 2011 excluding Estonia. End of year (pages of the German original) Europe (cont d) Other European countries (cont d) Liechtenstein Macedonia former Yugoslav, Republic of Moldova, Republic of Norway Russian Federation Switzerland Serbia Turkey Ukraine Africa Total Egypt Algeria Côte d Ivoire Ghana Kenya Libyan Arab Jamahiriya Morocco Mauritius For side-headings in tables, see page 9.

8 Foreign direct investment stock statistics 8 I German foreign direct investment abroad 2 (a) (cont d) End of year (pages of the German original) Africa (cont d) America North America Central America Nigeria South Africa Tanzania, United Republic of Tunisia Total Total Canada United States Total Bahamas Barbados Bermuda Virgin Islands, British Costa Rica Curaçao 1 Dominican Republic El Salvador Guatemala Honduras Cayman Islands Netherlands Antilles. End of year (pages of the German original) America (cont d) Central America (cont d) South America Mexico Panama Total Argentina Bolivia Brazil Chile Ecuador Colombia Paraguay Asia Countries in Near and Middle East Peru Uruguay Venezuela Total Total Azerbaijan Bahrain Iran, Islamic Republic of Israel Jordan 1 In case of negative amounts, the losses shown exceed the capital employed. End of year (pages of the German original) Asia (cont d) Countries in Near and Middle East (cont d) Other Asian countries Qatar Lebanon Oman Saudi Arabia Syria, Arab Republic of United Arab Emirates Total Bangladesh China, People s Republic of 1 Hong Kong India Indonesia Japan Kazakhstan Korea, Republic of Malaysia Pakistan Philippines Singapore Sri Lanka 1 Excluding Hong Kong. For side-headings in tables, see page 9.

9 Foreign direct investment stock statistics 9 I German foreign direct investment abroad 2 (a) (cont d) End of year (page 24 of the German original) Asia (cont d) Other Asian countries (cont d) Oceania and Polar regions Memo item Taiwan EU member states Thailand Viet Nam Total Australia Industrial countries (15) Emerging markets and developing countries German foreign direct investment in million Primary German direct investment abroad Primary and secondary (ie through dependent holding companies abroad) German direct investment abroad (consolidated) Memo item: Other German corporate assets abroad (from other indirect capital interests) Operating variables of enterprises abroad Number Employees in thousands Annual turnover in billion Balance sheet total in billion of enterprises in manufacturing and the wholesale and retail trade of monetary intermediation and trusts, funds and similar financial entities; other financial service activities, except insurance and pension funding of other enterprises I German foreign direct investment abroad 2 Direct investment and important operating variables of enterprises abroad (b) by economic activity End of year (page 25 of the German original) Mining and quarrying Manufacturing All economic activities Agriculture, forestry and fishing Total Extraction of crude petroleum and natural gas Other mining and quarrying Total of food products of beverages of tobacco products of textiles 1 In case of negative amounts, the losses shown exceed the capital employed. For side-headings in tables, see page 11.

10 Foreign direct investment stock statistics 10 I German foreign direct investment abroad 2 (b) (cont d) End of year (pages of the German original) Manufacturing (cont d) of wearing apparel of leather and related products of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials of paper and paper products Printing and reproduction of recorded media of coke and refined petroleum products of chemicals and chemical products of basic pharmaceutical products and pharmaceutical preparations of rubber and plastic products of other non-metallic mineral products of basic metals of fabricated metal products, except machinery and equipment of electronic components and boards of computers and peripheral equipment of communication equipment; manufacture of consumer electronics of instruments and appliances for measuring, testing and navigation; watches and clocks; irradiation, electromedical and electrotherapeutic equipment of optical instruments and photographic equipment; manufacture of magnetic and optical media of electrical equipment of machinery and equipment n.e.c. of motor vehicles, trailers and semi-trailers End of year (pages of the German original) Manufacturing (cont d) Water supply; sewerage, waste management and remediation activities Transportation and storage of other transport equipment of furniture Other manufacturing; repair and installation of machinery and equipment Electricity, gas, steam and air conditioning supply Total Waste collection, treatment and disposal activities; materials recovery Construction Wholesale and retail trade; repair of motor vehicles and motorcycles Total Air transport Information and communication Financial and insurance activities Warehousing and support activities for transportation Accommodation and food service activities Total Publishing activities Programming and broadcasting activities Telecommunications Computer programming, consultancy and related activities Total 1 Monetary intermediation Trusts, funds and similar financial entities; other financial service activities, except insurance and pension funding 1 1 From 2011 including asset management. End of year (pages of the German original) Financial and insurance activities (cont d) Professional, scientific and technical activities Insurance, reinsurance and pension funding, except compulsory social security Activities auxiliary to financial services and insurance activities Real estate activities Total Activities of holding companies Management consultancy activities Architectural and engineering activities and related technical consultancy Technical testing and analysis Scientific research and development Advertising, market research and public opinion polling Administrative and support service activities Total 1 Rental and leasing activities Employment activities Travel agency, tour operator and other reservation service and related activities Office administrative, office support and other business support activities 1 Education; human health and social work activities Arts, entertainment and recreation Public administration; other service activities; non-profit organizations Private households 1 From 2011 excluding asset management. 2 In case of negative amounts, the losses shown exceed the capital employed. For side-headings in tables, see page 11.

11 Foreign direct investment stock statistics 11 I German foreign direct investment abroad 2 (b) (cont d) By economic activity of the German investors Primary German direct investment abroad, in million Primary and secondary (ie through dependent holding companies abroad) German direct investment abroad (consolidated), in million Memo item: Other German corporate assets abroad (from other indirect capital interests), in million Number of investors By economic activity of the foreign investment enterprises Primary German direct investment abroad, in million Primary and secondary (ie through dependent holding companies abroad) German direct investment abroad (consolidated), in million Memo item: Other German corporate assets abroad (from other indirect capital interests), in million Enterprises abroad Number Employees in thousands Annual turnover in billion Balance sheet total in billion I German foreign direct investment abroad 3 Primary and secondary direct investment, by country of investment and economic activity (a) of the German investors End of year; in million Economic activity of German investors Manufacturing All economic activities Total of chemicals and chemical products of electrical equipment of machinery and equipment n.e.c. of motor vehicles, trailers and semi-trailers Wholesale and retail trade; repair of motor vehicles and motorcycles Monetary intermediation Insurance, reinsurance and pension funding, except compulsory social security Activities of holding companies Private households Jahr = Year Page 32 of the German original All countries Europe EU member states : Belgium Denmark France Ireland Italy Luxembourg Netherlands Austria 1 In case of negative amounts, the losses shown exceed the capital employed. Page 33 of the German original Poland Portugal Romania Sweden Slovakia Spain Czech Republic Hungary United Kingdom Other European countries : Norway 1 In case of negative amounts, the losses shown exceed the capital employed. Page 34 of the German original Russian Federation Switzerland Turkey Africa : South Africa America : Argentina Brazil Canada Mexico United States Page 35 of the German original Asia : China, People s Republic of 1 Hong Kong India Japan Korea, Republic of Malaysia Singapore Oceania and Polar regions : Australia Memo item: Industrial countries 1 Excluding Hong Kong. 2 In case of negative amounts, the losses shown exceed the capital employed.

12 Foreign direct investment stock statistics 12 I German foreign direct investment abroad 3 Primary and secondary direct investment, by country of investment and economic activity (b) of the foreign investment enterprises End of year; in million Economic activity of the foreign investment enterprises All economic activities Manufacturing Total of chemicals and chemical of electrical products equipment of machinery and equipment n.e.c. of motor vehicles, trailers and semi-trailers Wholesale and retail trade; repair of motor vehicles and motorcycles Monetary intermediation Trusts, funds and similar financial entities; other financial service activities, except insurance and pension funding 1 Insurance, reinsurance and pension funding, except compulsory social security Activities of holding companies Jahr = Year Page 36 of the German original All countries Europe EU member states : Belgium Denmark France Ireland Italy Luxembourg Netherlands Austria 1 From 2011 including asset management. Page 37 of the German original Poland Portugal Romania Sweden Slovakia Spain Czech Republic Hungary United Kingdom Other European countries : Norway 1 From 2011 including asset management. 2 In case of negative amounts, the losses shown exceed the capital employed. Page 38 of the German original Russian Federation Switzerland Turkey Africa : South Africa America : Argentina Brazil Canada Mexico United States 1 From 2011 including asset management. Page 39 of the German original Asia : China, People s Republic of 2 Hong Kong India Japan Korea, Republic of Malaysia Singapore Oceania and Polar regions : Australia Memo item: Industrial countries 1 From 2011 including asset management. 2 Excluding Hong Kong. 3 In case of negative amounts, the losses shown exceed the capital employed. I German foreign direct investment abroad 4 Primary and secondary direct investment, by economic activity of the German investors and of the foreign investment enterprises (a) in all countries (b) in EU member states (c) in the United States End of year; in million (pages 40, 41 and 42 of the German original) Economic activity of the foreign investment enterprises All economic activities Manufacturing Total of chemicals and chemical products of electrical equipment of machinery and equipment n.e.c. of motor vehicles, trailers and semi-trailers Wholesale and retail trade; repair of motor vehicles and motorcycles Monetary intermediation Trusts, funds and similar financial entities; other financial service activities, except insurance and pension funding 1 Insurance, reinsurance and pension funding, except compulsory social security Activities of holding companies Jahr = Year Economic activity of the German investors All economic activities : Manufacturing : of chemicals and chemical products of electrical equipment of machinery and equipment n.e.c. of motor vehicles, trailers and semi-trailers Wholesale and retail trade; repair of motor vehicles and motorcycles Monetary intermediation Insurance, reinsurance and pension funding, except compulsory social security Activities of holding companies Private households Footnote (a) to (c) 1 From 2011 including asset management.

13 Foreign direct investment stock statistics 13 II Foreign direct investment in Germany 1 Foreign corporate assets, by type of capital links, asset or liability position and economic activity (a) from all countries (b) from EU member states (27) (c) from the United States End of year Economic activity of the enterprises in Germany (investment enterprises) (pages 44 45, and of the German original) Item All economic activities Manufacturing Wholesale and retail trade; repair of motor vehicles and motorcycles Monetary intermediation Activities of holding companies Foreign direct investment in million Primary foreign direct investment in Germany Direct interests in nominal capital Direct pro rata reserves 1 Primary foreign investment capital Direct lending by foreign shareholders 2 Lending by other affiliated enterprises abroad 2 Aggregate primary foreign direct investment Primary and secondary foreign direct investment in Germany (consolidated) 3 Direct interests in nominal capital Interests of dependent holding companies in nominal capital Direct pro rata reserves 1 Pro rata reserves held by dependent holding companies 1 Primary and secondary foreign investment capital Direct lending by foreign shareholders 2 Lending by other affiliated enterprises abroad 2 Lending by dependent holding companies Aggregate primary and secondary foreign direct investment Memo items Other foreign corporate assets in Germany resulting from indirect capital interests 4 Lending by dependent primary shareholders in Germany Aggregate other foreign corporate assets in Germany Lending by enterprises in Germany with foreign capital interests to shareholders abroad Data on enterprises in Germany 5 Enterprises with direct foreign capital interests Number Employees in thousands Annual turnover in billion Balance sheet figures in billion: Capital Fixed assets Financial assets Balance sheet total Enterprises with indirect foreign capital interests Number Employees in thousands Annual turnover in billion Balance sheet figures in billion: Capital Fixed assets Financial assets Balance sheet total Indirect interests in nominal capital Indirect pro rata reserves 1 Indirect investment capital Footnotes (a) to (c) on pages Including profits, less losses. 2 Also includes direct lending to enterprises with indirect foreign capital interests. 3 Excluding primary direct investment in dependent holding companies, ie excluding interests in the nominal capital and the reserves of dependent holding companies and excluding lending to dependent holding companies. 4 Excluding secondary direct investment through dependent holding companies. 5 Key data on enterprises with direct and indirect foreign capital interests are shown in both following sections. Thus they are counted twice.

14 Foreign direct investment stock statistics 14 II Foreign direct investment in Germany 2 Direct investment and important operating variables of enterprises in Germany (a) by country of investor End of year (pages of the German original) Europe EU member states Euro-area member states 1 All countries Total Total Total Belgium Finland France Greece Ireland Italy Other EU member states 2 Luxembourg Netherlands Austria Portugal Slovenia Spain Cyprus Total Denmark Poland 1 From 2011 including Estonia. 2 From 2011 excluding Estonia. 3 Key data on enterprises in which investors from various countries hold capital interests are shown under the country concerned. The total of the figures for individual countries can therefore differ from the aggregate for the group of countries. End of year (pages of the German original) Europe (cont d) EU member states (cont d) Other EU member states 1 (cont d) Other European countries Sweden Czech Republic Hungary United Kingdom Total Guernsey Jersey Liechtenstein Norway Russian Federation Africa America North America Central America Switzerland Turkey Total South Africa Total Total Canada United States Total Bahamas 1 From 2011 excluding Estonia. 2 Key data on enterprises in which investors from various countries hold capital interests are shown under the country concerned. The total of the figures for individual countries can therefore differ from the aggregate for the group of countries. End of year America (cont d) Central America (cont d) (pages of the German original) Asia South America Bermuda Virgin Islands, British Curaçao 1 Cayman Islands Mexico Panama Total Brazil Uruguay Total For side-headings in tables, see page 15.

15 Foreign direct investment stock statistics 15 II Foreign direct investment in Germany 2 (a) (cont d) Countries in Near and Middle East Other Asian countries Total Iran, Islamic Republic of Israel Kuwait United Arab Emirates Total China, 2 People s Republic of Hong Kong India Japan Netherlands Antilles. 2 Excluding Hong Kong. 3 In case of negative amounts, the losses shown exceed the capital employed. 4 Key data on enterprises in which investors from various countries hold capital interests are shown under the country concerned. The total of the figures for individual countries can therefore differ from the aggregate for the group of countries. End of year (page 56 of the German original) Asia (cont d) Oceania and Polar regions Memo item Other Asian countries (cont d) Korea, Republic of Malaysia Singapore Taiwan Total Australia Industrial countries EU member states (15) Emerging markets and developing countries 1 Key data on enterprises in which investors from various countries hold capital interests are shown under the country concerned. The total of the figures for individual countries can therefore differ from the aggregate for the group of countries. Foreign direct investment in Germany in million Primary foreign direct investment in Germany Primary and secondary (ie through dependent domestic holding companies) foreign direct investment in Germany (consolidated) Memo item: Other foreign corporate assets in Germany (resulting from other indirect capital interests) Operating variables of enterprises in Germany Number Employees in thousands Annual turnover in billion Balance sheet total in billion of enterprises in manufacturing and the wholesale and retail trade of monetary intermediation and trusts, funds and similar financial entities; other financial service activities, except insurance and pension funding of other enterprises II Foreign direct investment in Germany 2 Direct investment and important operating variables of enterprises in Germany (b) by economic activity of the investment enterprises End of year (page 57 of the German original) Mining and quarrying Manufacturing All economic activities Agriculture, forestry and fishing Total Extraction of crude petroleum and natural gas Other mining and quarrying Total of food products of beverages of tobacco products of textiles Jahr = Year For side-headings in tables, see page 17.

16 Foreign direct investment stock statistics 16 II Foreign direct investment in Germany 2 (b) (cont d) End of year (pages of the German original) Manufacturing (cont d) of wearing apparel of leather and related products of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials of paper and paper products Printing and reproduction of recorded media of coke and refined petroleum products of chemicals and chemical products of basic pharmaceutical products and pharmaceutical preparations of rubber and plastic products of other non-metallic mineral products of basic metals of fabricated metal products, except machinery and equipment of electronic components and boards of computers and peripheral equipment of communication equipment; manufacture of consumer electronics of instruments and appliances for measuring, testing and navigation; watches and clocks; irradiation, electromedical and electrotherapeutic equipment of optical instruments and photographic equipment; manufacture of magnetic and optical media of electrical equipment of machinery and equipment n.e.c. of motor vehicles, trailers and semi-trailers End of year (pages of the German original) Manufacturing (cont d) Water supply; sewerage, waste management and remediation activities Transportation and storage of other transport equipment of furniture Other manufacturing; repair and installation of machinery and equipment Electricity, gas, steam and air conditioning supply Total Waste collection, treatment and disposal activities; materials recovery Construction Wholesale and retail trade; repair of motor vehicles and motorcycles Total Land transport and transport via pipelines Water transport End of year Accommodation and food service activities Information and communication Total Publishing activities Programming and broadcasting activities 1 From 2011 including asset management. 2 In case of negative amounts, the losses shown exceed the capital employed. Telecommunications Financial and insurance activities Computer programming, consultancy and related activities Total 1 Monetary intermediation Trusts, funds and similar financial entities; other financial service activities, except insurance and pension funding 1 (pages of the German original) Financial and insurance activities (cont d) Professional, scientific and technical activities Insurance, reinsurance and pension funding, except compulsory social security Activities auxiliary to financial services and insurance activities Real estate activities Total Activities of holding companies Management consultancy activities Architectural and engineering activities and related technical consultancy Technical testing and analysis Scientific research and development Administrative and support service activities Advertising, market research and public opinion polling Total 1 Rental and leasing activities Employment activities Travel agency, tour operator and other reservation service and related activities Office administrative, office support and other business support activities 1 Education; human health and social work activities Arts, entertainment and recreation Public administration; other service activities; non-profit organizations 1 From 2011 excluding asset management. 2 In case of negative amounts, the losses shown exceed the capital employed. For side-headings in tables, see page 17.

17 Foreign direct investment stock statistics 17 II Foreign direct investment in Germany 2 (b) (cont d) Foreign direct investment in Germany in million Primary foreign direct investment in Germany Primary and secondary (ie through dependent domestic holding companies) foreign direct investment in Germany (consolidated) Memo item: Other foreign corporate assets in Germany (resulting from other indirect capital interests) Operating variables of enterprises in Germany Number Employees in thousands Annual turnover in billion Balance sheet total in billion II Foreign direct investment in Germany 3 Primary and secondary direct investment, by country of investor and economic activity of the investment enterprises End of year; in million Economic activity of investment enterprises Manufacturing All economic activities Total of food products of textiles of paper and paper products of coke and refined petroleum products of chemicals and chemical products of rubber and plastic products of basic metals of fabricated metal products, except machinery and equipment of computers and peripheral equipment of instruments and appliances for measuring, testing and navigation; watches and clocks; irradiation, electromedical and electrotherapeutic equipment of electrical equipment of machinery and equipment n.e.c of motor vehicles, trailers and semitrailers Construction Wholesale and retail trade; repair of motor vehicles and motorcycles Information and communication Insurance, reinsurance and pension funding, except compulsory social security Real estate activities Activities of holding companies Monetary intermediation Administrative and support service activities 1 Page of the German original Page of the German original All countries : Europe : EU countries : Belgium Denmark Finland France Italy Luxembourg Netherlands Austria Sweden Spain United Kingdom Switzerland America : Canada United States Asia : Japan Jahr = Year 1 From 2011 excluding asset management. Jahr = Year 1 From 2011 excluding asset management. 2 In case of negative amounts, the losses shown exceed the capital employed.

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19 Foreign direct investment stock statistics 19 Methodological notes Reporting requirements The foreign direct investment stock statistics are based on reports by domestic enterprises and individuals on Residents assets abroad and Non-residents assets in Germany, which have to be submitted to the Deutsche Bundesbank once a year. The contents of the reports and the procedures to be used are defined in the Foreign Trade and Payments Regulation (sections 64 and 65). The provisions also include the report forms annexed to the Foreign Trade and Payments Regulation and which form an integral part of that Regulation. These provisions were amended in September In addition to an adjustment of the report forms at that time to meet the requirements of the 1985 Act concerning the EC Annual Accounts Directive, the exemption limit for participating interests was lowered from less than 25 % of the shares or voting rights in an enterprise to 20 %; international harmonisation led to a further reduction in the exemption limit in January 1999 to less than 10 % of the capital shares or voting rights. However, in October 1993 the exemption limit, which is based on the balance sheet total of the investment enterprises, was raised from DM 500,000 to DM 1 million; this exemption limit for minority participation rights of less than 50 % was raised to 5 million in January In March 2002 this exemption limit was set at 3 million for all investment enterprises. The reporting thresholds for indirect participating interests were changed at the end of 2007, such that all subsequently majority-owned indirect participating interests must be reported. Loans from banks and claims on banks are not included in the calculation of the direct investment stock data. Up to and including the reporting year 2007, subordinated loan capital was an exception to this rule and was included in the calculation. Moreover, from the reporting year 2008 onwards, loans between financial intermediaries (banks and other financial intermediaries) have not been classified as direct investment. I Reporting requirements and contents of the reports 1 German foreign direct investment Reports are required to be submitted by German enterprises and households which, on the reporting date, have direct (primary) holdings of 10 % or more, or direct and indirect (secondary) holdings totalling more than 50 % of the capital shares or voting rights in an enterprise abroad which has a balance sheet total of more than (the equivalent of) 3 million. Reports are also required of German enterprises that maintain branch offices or permanent establishments abroad with operating assets in excess of 3 million. The reports must include the following information: Contents of the report (a) on the party required to report: name, domicile, economic sector, legal form, balance sheet total, annual turnover (in case of credit institutions: annual production value) and the number of employees; (b) on each individual foreign enterprise in which a direct or indirect participating interest of the kind that is to be reported is held: company name, domicile, country of domicile, legal status, economic sector, annual turnover (in case of credit institutions: annual production value) and the number of employees; the reason for reporting if the foreign enterprise is reported for the first time: a newly established enterprise, purchase, merger or acquisition or overshooting of the reporting threshold; the balance sheet of the foreign enterprise in which the party required to report has a direct or indirect participating interest, as at the reporting date, as well as the shares in the asset and liability positions given in that balance sheet which are directly attributable to the party required to report and, in case of indirect participating interests, the shares in the asset and liability positions given in that balance sheet which are attributable to the foreign enterprise with a direct participating interest. What must be reported is the foreign currency balance sheet of the foreign enterprise, which has been drawn up in accordance with the regulations in force in the country of domicile. In case of direct participating interests in a listed enterprise, the stock market value of the shares held is also collected. 2 Foreign direct investment in Germany Reports are required to be submitted by every German enterprise with a balance sheet total of more than 3 million in which a non-resident (or several economically linked non-residents) holds 10 % or more of the shares or voting rights in the German enterprise on the balance sheet date. Reporting requirements

20 Foreign direct investment stock statistics 20 Reports are also required of non-residents branch offices or permanent establishments in Germany with operating assets in excess of 3 million. Indirect participating interests are to be reported if nonresidents have a holding of more than 50 % in a domestic enterprise such enterprises are deemed to be dependent enterprises and if these dependent enterprises themselves have direct or indirect holdings totalling more than 50 % of the shares or voting rights in other domestic enterprises. Contents The reports must include the following information: of the reports (a) on the enterprise required to report: company name, domicile, economic sector, legal form, annual turnover (in case of credit institutions: annual production value) and the number of employees; the reason for reporting if the party required to report submits for the first time: a newly established enterprise, purchase, merger or acquisition or overshooting of the reporting threshold; the balance sheet of the enterprise required to report, as at the reporting date; (b) on every non-resident with a participating interest in the enterprise required to report: name, domicile and country of domicile; the shares in the asset and liability positions given in the balance sheet of the enterprise required to report which are directly attributable to that non-resident; (c) on every domestic enterprise in which non-residents hold an indirect participating interest of the kind that is to be reported (see notes on the reporting requirements): company name, domicile, economic sector, legal form, annual turnover (in case of credit institutions: annual production value) and the number of employees; the reason for reporting if the participating interest is submitted for the first time: a newly established enterprise, purchase, merger or acquisition or overshooting of the reporting threshold; the balance sheet of the domestic enterprise in which the enterprise required to report has a direct or indirect participating interest, as at the reporting date, as well as the shares in the asset and liability positions which are directly attributable to the enterprise with a direct participating interest (and, where applicable, the claims and liabilities of the domestic enterprise which exist directly vis-à-vis a non-resident shareholder of the enterprise required to report), in the event of the enterprise required to report having an indirect participating interest, the shares in the asset and liability positions of this balance sheet which are attributable to the domestic enterprise holding the direct participating interest. In case of direct participating interests in a listed enterprise, the stock market value of the shares held is also collected. II Calculation of the stock of direct investment A distinction is made in the presentation of the statistics between primary direct investment, consolidated primary and secondary direct investment, and other indirect corporate assets. Primary direct investment constitutes the direct capital links arising from residents participating interests in enterprises abroad or non-residents participating interests in enterprises in Germany. It is elicited from the following components of the statistical reports: 1 the shares in the nominal capital held directly by shareholders (subscribed or called-up capital, endowment capital). The amounts involved must be stated in the reports; plus 2 the shares in the capital reserves and revenue reserves, as well as in the profits brought forward and in the profits for the year, to be attributed to the direct shareholders. These shares are determined on the basis of the respective pro rata shares of the individual direct shareholders in the nominal capital; less 3 the shares in the losses brought forward and in the losses for the year, as well as in the deficits not covered by capital and in the subscribed capital unpaid, to be attributed to the direct shareholders. Aggregation of items 1 to 3 above yields the primary investment capital. In addition, the primary direct investment capital includes: 4 direct lending by direct or indirect shareholders in Germany or abroad; plus 5 direct lending by other associated enterprises, namely in case of German direct investment abroad lending by affiliated enterprises in Germany, and in case of foreign direct investment in Germany lending by affiliated enterprises domiciled outside Germany. Primary direct investment

21 Foreign direct investment stock statistics 21 Aggregate primary and secondary direct investment In order to provide as comprehensive a picture as possible of the pattern of direct investment and its development, primary and secondary direct investment held via direct holding companies is also shown in these statistics in a consolidated form. Such consolidation is effected by deducting primary direct investment in dependent holding companies from the aggregate primary and secondary direct investment. Primary direct investment in dependent holding companies is thus exchanged for the investment made by these dependent holding companies. This prevents double counting of the capital which was invested in holding companies and was used by them to finance their participating interests. The secondary direct investment which is included in the consolidated statistics comprise: in case of German direct investment abroad, indirect capital links arising from residents participating interests in foreign enterprises via dependent holding companies domiciled abroad, and, The way in which secondary direct investment is calculated from the balance sheet items is the same as that used to calculate primary direct investment, with the dependent holding company taking the place of the direct shareholder. Other assets from indirect capital interests are understood to comprise all reportable indirect capital links that are not held via dependent holding companies. Such capital links, which may be held via producing enterprises, marketing companies, etc, cannot be lumped together with primary and secondary direct investment if the aforementioned double counting is to be avoided. Such double counting could only be ruled out by means of comprehensive balance sheet consolidation. This, however, would lead to a blurring, rather than a clarification, of the breakdowns by country and economic sector. That is why the other assets from indirect capital interests must be presented separately. Other assets from indirect capital interests in case of foreign direct investment in Germany, indirect capital links arising from non-residents participating interests in German enterprises via dependent holding companies domiciled in Germany.

22 Foreign direct investment stock statistics 22 List of countries showing the groups of countries to which the countries appearing in this Special Statistical Publication belong Europe EU countries (27) Euro-area member states Austria Belgium Cyprus Estonia Finland France (including French Guiana, Guadeloupe, Martinique, Mayotte, Monaco, Réunion, Saint Pierre and Miquelon) Greece Ireland Italy Luxembourg Malta Netherlands Portugal Slovakia Slovenia Spain (including the Canary Islands, Ceuta and Melilla) Other EU countries Bulgaria Czech Republic Denmark Hungary Latvia Lithuania Poland Romania Sweden United Kingdom (Great Britain and Northern Ireland) Other European countries Albania Andorra Belarus Bosnia and Herzegovina Croatia Faroe Islands Gibraltar Guernsey Holy See Iceland Isle of Man Jersey Liechtenstein Macedonia, former Yugoslav Republic of Moldova, Republic of Montenegro Norway Russian Federation San Marino Serbia (including Kosovo) Switzerland Turkey Ukraine Africa Algeria Angola Benin Botswana British Indian Ocean Territory Burkina Faso Burundi Cameroon Cape Verde Central African Republic Chad Comoros Congo, Democratic Republic of the Congo, Republic of the Côte d Ivoire Djibouti Egypt Equatorial Guinea Eritrea Ethiopia Gabon

23 Foreign direct investment stock statistics 23 Gambia Ghana Guinea Guinea-Bissau Kenya Lesotho Liberia Libyan Arab Jamahiriya Madagascar Malawi Mali Mauritania Mauritius Morocco Mozambique Namibia Niger Nigeria Rwanda Saint Helena, Ascension and Tristan da Cunha Sao Tome and Principe Senegal Seychelles Sierra Leone Somalia South Africa South Sudan Sudan Swaziland Tanzania, United Republic of Togo Tunisia Uganda Zambia Zimbabwe America North America Canada Greenland United States Central America Anguilla Antigua and Barbuda Aruba Bahamas Barbados Belize Bermuda Bonaire, Saba and Saint Eustatius Cayman Islands Costa Rica Cuba Curaçao Dominica Dominican Republic El Salvador Grenada Guatemala Haiti Honduras Jamaica Mexico Montserrat Nicaragua Panama Saint Kitts and Nevis Saint Lucia Saint Vincent and the Grenadines Sint Maarten Trinidad and Tobago Turks and Caicos Islands Virgin Islands, British Virgin Islands of the United States South America Asia Argentina Bolivia, Plurinational State of Brazil Chile Colombia Ecuador Falkland Islands Guyana Paraguay Peru Suriname Uruguay Venezuela, Bolivarian Republic of Near and Middle Eastern countries Armenia Azerbaijan Bahrain Georgia

24 Foreign direct investment stock statistics 24 Iran, Islamic Republic of Iraq Israel Jordan Kuwait Lebanon Oman Palestinian Territories Qatar Saudi Arabia Syrian Arab Republic United Arab Emirates Yemen Other Asian countries Afghanistan Bangladesh Bhutan Brunei Darussalam Cambodia China, People s Republic of Hong Kong India Indonesia Japan Kazakhstan Korea, Democratic People s Republic of Korea, Republic of Kyrgyzstan Lao, People s Democratic Republic Macao Malaysia Maldives Mongolia Myanmar Nepal Pakistan Philippines Singapore Sri Lanka Taiwan Tajikistan Thailand Timor-Leste Turkmenistan Uzbekistan Viet Nam Oceania and Polar regions American Samoa Antarctica Australia Bouvet Island Christmas Island Cocos Islands Cook Islands Fiji French Polynesia French Southern Territories Guam Heard and McDonald Islands Kiribati Marshall Islands Micronesia, Federated States of (Yap, Kosrae, Chuuk, Pohnpei) Nauru New Caledonia New Zealand Niue Norfolk Islands Northern Mariana Islands Palau Papua New Guinea Pitcairn Islands Samoa Solomon Islands South Georgia and the South Sandwich Islands Tokelau Tonga Tuvalu United States Outlying Islands, minor Vanuatu Wallis and Futuna Memo item Industrial countries Andorra Australia Austria Belgium Canada Cyprus Czech Republic Denmark Estonia Faroe Islands

25 Foreign direct investment stock statistics 25 Finland France Gibraltar Greece Greenland Guernsey Holy See Hungary Iceland Ireland Isle of Man Italy Japan Jersey Latvia Liechtenstein Lithuania Luxembourg Malta Netherlands New Zealand Norway Poland Portugal San Marino Slovakia Slovenia Spain Sweden Switzerland Turkey United Kingdom United States EU countries (15) Austria Belgium Denmark Finland France (including French Guiana, Guadeloupe, Martinique, Mayotte, Monaco, Réunion, Saint Pierre and Miquelon) Greece Ireland Italy Luxembourg Netherlands Portugal Spain (including the Canary Islands, Ceuta and Melilla) Sweden United Kingdom (Great Britain and Northern Ireland) Emerging markets and developing countries All countries in Africa, America, Asia, Oceania and the Polar regions excluding plus Australia Canada Greenland Japan New Zealand United States Albania Belarus Bosnia and Herzegovina Bulgaria Croatia Macedonia, former Yugoslav Republic of Moldova, Republic of Montenegro Romania Russian Federation Serbia (including Kosovo) Ukraine

26 Foreign direct investment stock statistics 26

27 Foreign direct investment stock statistics 27 Special Statistical Publications* 1 Banking statistics guidelines and customer classification, January Bankenstatistik Kundensystematik, January , 3 3 Aufbau der bankstatistischen Tabellen, July , 3 4 Financial accounts for Germany 2007 to 2012, June Hochgerechnete Angaben aus Jahresabschlüssen deutscher Unternehmen von 2006 bis 2012, December , 3 6 Verhältniszahlen aus Jahresabschlüssen deutscher Unternehmen von 2009 bis 2012, May , 3 7 Notes on the coding list for the balance of payments statistics, September The balance of payments statistics of the Federal Republic of Germany, 2nd edition, February 1991 o 9 Securities deposits, August Foreign direct investment stock statistics, 4 11 Balance of payments by region, July Technologische Dienstleistungen in der Zahlungsbilanz, June * Unless otherwise indicated, these publications are available in both English and German and on the Bundesbank s website. º Not available on the website. 1 Available on the website only. 2 Only some parts of the Special Statistical Publications are provided in English. The date refers to the German issue, which may be of a more recent date than the English one. 3 Available in German only. 4 Only the headings and explanatory notes to the data contained in the German originals are available in English.

28 6 I. Deutsche Direktinvestitionen im Ausland 1. Deutsches Unternehmensvermögen nach Art der Kapitalverflechtung, Vermögenspositionen und Wirtschaftsbereichen a) in allen Ländern Stand am Jahresende Wirtschaftszweige der Unternehmen im Ausland (Investitionsobjekte) Alle Wirtschaftszweige Verarbeitendes Gewerbe Handel Position Deutsche Direktinvestitionen in Mio Unmittelbare deutsche Direktinvestitionen im Ausland Direkte Anteile am Nominalkapital Direkte anteilige Rücklagen 1) Unmittelbares deutsches Beteiligungskapital Direkte Kredite von deutschen Kapitaleignern 2) Kredite anderer verbundener Unternehmen in Deutschland 2) Summe der unmittelbaren deutschen Direktinvestitionen Unmittelbare und mittelbare deutsche Direktinvestitionen im Ausland (konsolidiert) 3) Direkte Anteile am Nominalkapital Anteile der abhängigen Holdinggesellschaften am Nominalkapital Direkte anteilige Rücklagen 1) Abhängigen Holdinggesellschaften gehörende anteilige Rücklagen 1) Unmittelbares und mittelbares deutsches Beteiligungskapital Direkte Kredite von deutschen Kapitaleignern 2) Kredite anderer verbundener Unternehmen in Deutschland 2) Kredite von abhängigen Holdinggesellschaften Summe der unmittelbaren und mittelbaren deutschen Direktinvestitionen Nachrichtlich: Sonstiges deutsches Unternehmensvermögen im Ausland aus anderer mittelbarer Kapitalbeteiligung 4) Indirekte Anteile am Nominalkapital Indirekte anteilige Rücklagen 1) Indirektes Beteiligungskapital Kredite der abhängigen unmittelbaren Kapitaleigner im Ausland Summe des sonstigen deutschen Unternehmensvermögens im Ausland Kredite der Unternehmen im Ausland mit deutscher Kapitalbeteiligung an die deutschen Kapitaleigner Angaben über die Unternehmen im Ausland Unternehmen mit unmittelbarer deutscher Kapitalbeteiligung Anzahl Beschäftigte in Tsd Jahresumsatz in Mrd Bilanzangaben in Mrd : Eigenkapital Sachanlagen Finanzanlagen Bilanzsumme Unternehmen mit mittelbarer deutscher Kapitalbeteiligung Anzahl Beschäftigte in Tsd Jahresumsatz in Mrd Bilanzangaben in Mrd : Eigenkapital Sachanlagen Finanzanlagen Bilanzsumme Einschl. Gewinne, abzüglich Verluste. 2 Darin enthalten sind auch direkte Kredite Direktinvestitionen bei abhängigen Holdinggesellschaften, d. h. ohne Anteile an Nomian Unternehmen mit mittelbarer deutscher Kapitalbeteiligung. 3 Ohne unmittelbare nalkapital und Rücklagen von abhängigen Holdinggesellschaften sowie ohne an