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Foreign direct investment in the United States: detail for historical-cost position and balance of payments flows, 1991.

THE FOLLOWING TABLES present country-by-industry estimates and estimates by detailed account for foreign direct investment in the United States (FDIUS). The tables cover the FDIUS position on a historical-cost basis and the related capital and income flows. Tables 16 and 17 present estimates of the position, capital flows, and income for all countries from which there was investment and for all industries in which investment was made.

The estimates and table presentation incorporate five changes from those published in August 1991. First, table 1 has been added to show alternative and historical-cost summary estimates of the foreign direct investment position in the United States and of rates of return on FDIUS. [TABULAR DATA 1 OMITTED]

Second, as part of the annual revisions to the U.S. international transactions accounts in June 1992, all capital gains and losses have been removed from direct investment income and from the reinvested earnings component of direct investment capital inflows.(1) The change in the direct investment position is not affected by this change because capital gains and losses have only been reclassified from one component of the change in the position (capital inflows) to another (valuation adjustments). Data were revised back to 1982.

Third, table 2 has been added to reconcile the estimates presented here with those presented in the U.S. international transactions accounts in the June 1992 Survey of Current Business. The estimates in this issue do not incorporate two changes introduced in June, because the source data needed to carry these changes to the detailed country and industry level presented here are not available. The following changes were not incorporated: The adjustment of the earnings component of direct investment income and the reinvested earnings component of direct investment capital inflows to reflect current-period prices, and the recording of direct investment current-account items gross (before deduction) of U.S. and foreign withholding taxes. [TABULAR DATA 2 OMITTED]

Fourth, a new methodology has been introduced to account for equity capital increases and decreases of delinquent reporters, beginning with estimates for 1990.

Fifth, former tables 5 and 6, as published in August 1991, have been dropped, and the information they contained has been largely incorporated into the other tables.

Summary estimates and analyses of the position, valued in current-period prices as well as historical costs, were published in the June 1992 Survey article "The International Investment Position of the United States in 1991." Summary estimates and analyses of the flows on a current-cost basis and gross of withholding taxes were published in "U.S. International Transactions," also in the June 1992 issue.

The survey from which the estimates were derived was conducted by Gregory G. Fouch under the supervision of James L. Bomkamp. Richard L. Boohaker, Nancy F. Halvorson, Tracy K. Leigh, and Beverly E. Palmer assisted with the survey and with the preparation of the estimates. D. Richard Mauery programmed the tables.

Tables 1 through 18 follow. (1)For a full discussion of the changes in the treatment of direct investment transactions in the U.S. international transactions accounts, see "U.S. International Transactions" in the June 1992 Survey of Current Business.
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Title Annotation:includes 18 tables
Publication:Survey of Current Business
Date:Aug 1, 1992
Words:519
Previous Article:Rates of return on direct investment.
Next Article:U.S. direct investment abroad: detail for historical-cost position and balance of payments flows, 1991.
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