Foreign direct investment stock statistics
Special Statistical Publication 10 April 2019
Deutsche Bundesbank
Wilhelm-Epstein-Strasse 14
60431 Frankfurt am Main
Germany
Postal address
Postfach 10 06 02
60006 Frankfurt am Main
Germany
Tel +49 69 9566-0
or +49 69 9566 2482/2483
Fax +49 69 9566 3077
http://www.bundesbank.de
Reproduction permitted only if source is stated.
ISSN 1864-4708
This Annex provides an English translation of the headings
and explanatory notes to the data contained in the German
original dated April 2019, which is the sole authoritative
text.
The Statistical Supplement Balance of payments statistics,
which is augmented annually by this Special Statistical Pub-
lication 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.
Banking statistics
Capital market statistics
Seasonally adjusted business statistics
Exchange rate statistics
Selected updated statistics are also available on the web-
site.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
2
Contents
I German foreign direct investment abroad
1 German corporate assets broken down by type of cross ownership and economic activity
(a) in all countries ........................................................................................................................................... 6
(b) in EU member states ................................................................................................................................. 6
(c) in the United States ................................................................................................................................... 6
2 Direct investment and important key indicators of enterprises abroad broken down by
(a) country of investment ............................................................................................................................... 7
(b) economic activity of the German investors ................................................................................................ 9
(c) economic activity of the foreign investment enterprises ............................................................................. 12
3 Primary and secondary direct investment broken down by country of investment and economic activity
(a) of the German investors ............................................................................................................................ 14
(b) of the foreign investment enterprises ........................................................................................................ 15
II Foreign direct investment in Germany
1 Foreign corporate assets broken down by type of cross ownership and economic activity
(a) from all countries ...................................................................................................................................... 16
(b) from EU member states ............................................................................................................................. 16
(c) from the United States .............................................................................................................................. 16
2 Direct investment and important key indicators of enterprises in Germany broken down by
(a) country of investor .................................................................................................................................... 17
(b) economic activity of the investment enterprises ......................................................................................... 18
(c) country where the corporate headquarters are resident............................................................................. 21
3 Primary and secondary direct investment broken down by economic activity of the investment enterprises .... 23
(a) and country of investor ............................................................................................................................. 23
(b) and country where the corporate headquarters are resident ...................................................................... 24
III Foreign direct investment stocks at market values including real estate and construction
1 German foreign direct investment abroad, total ............................................................................................. 25
2 Foreign direct investment in Germany, total ................................................................................................... 25
Methodological notes ...................................................................................................................... 26
List of countries................................................................................................................................... 29
Special Statistical Publications .................................................................................................... 33
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
3
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.
Claims and liabilities arising from foreign direct investment relations
In a departure from their definition in accounting terminology, the terms “claims” and “liabilities” arising from
foreign direct investment relations also include cross-border equity holdings, which, legally speaking, do not
constitute claims or liabilities but rather assets abroad held by residents or assets in Germany held by non-
residents.
Activities of holding companies with and without management activities
As of the 2014 reporting year, the activities of those holding companies without management activities are no
longer recorded under the economic activity group “Activities of head offices (Activities of holding companies)”
but have been reclassified from Section M “Professional, scientific and technical activities” to Section K “Finan-
cial and insurance activities” because they serve as companies’ internal group financiers.
Abbreviations and symbols
r Revised. Figure unknown, not to be published or not meaningful0 Less than 0.5 but more than nil– Nil
Discrepancies in the totals are due to rounding.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
4
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
5
I German foreign direct investment abroad1 German corporate assets broken down by type of cross ownership and economic activity
(a) in all countries(b) in EU member states(c) in the United States
End of year (pages 6 –7, 8 – 9 and 10 –11 of the German original)
Item
Economic activity of enterprises abroad (investment enterprises)
All economic activities
of which
Manufacturing
Wholesale and retail trade; repair of motor vehicles and motorcycles
Financial and insurance activities
Activities of head offices; management consultancy activitiesTotal
of which
Holding companies without management function
German direct investment in € millionPrimary German direct investment abroad
Primary German investment capital1+ direct lendings by German capital owners2+ lendings by enterprises in Germany3
to their foreign sister companies
Receivables of primary German investment relations
minus– direct lendings of direct investment
enterprises abroad to their German investors2– lendings of enterprises abroad3
to their sister companies in Germany
Liabilities of primary German direct investment relations
Total of primary German direct investment
Primary and secondary German direct investment abroad (consolidated)4
Primary German investment capital1+ secondary German investment capital1
(held by dependent holding companies)+ direct lendings by German capital owners2+ lendings by dependent holding companies+ lendings by enterprises in Germany3
to their foreign sister companies
Receivables of primary and secondary German direct investment relations
minus– direct lendings of direct investment enterprises abroad to their German
investors2– lendings to dependent holding companies– lendings by enterprises abroad3
to their sister companies in Germany
Liabilities of primary and secondary German direct investment relations
Total of primary and secondary German direct investment
Data on enterprises abroadEnterprises with primary German capital interests
NumberEmployees in thousandsAnnual turnover in € billion
Enterprises with secondary German majority interests
NumberEmployees in thousandsAnnual turnover in € billion
Footnotes (a), (b) and (c) on pages 6 –11 of the German original1 Including pro rata reserves and profits, less losses. 2 Also includes direct lend-ings to enterprises with secondary German capital interests. 3 Only if the corpor-ate headquarters are located in Germany. 4 Excluding primary direct investment
in dependent holding companies, ie excluding interests in the nominal capital and reserves of dependent holding companies and excluding lending connec-tions to dependent holding companies.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
6
I German foreign direct investment abroad2 Direct investment and important key indicators of enterprises abroad broken down by
(a) country of investment
End of year (pages 12 –13 of the German original)
All countries
Europe
Total
EU member states
Total
Euro-area member states1
Total Belgium Estonia Finland France Greece
Ireland Italy Latvia Lithuania Luxembourg Malta Netherlands Austria Portugal
1 From 2015 including Lithuania. 2 Consolidated secondary direct investmentsare secondary capital relations of investments held by Germans in enterprises abroad by dependent holding companies domiciled abroad.
End of year (pages 14 –15 of the German original)
Europe (cont’d)
EU member states (cont’d)
Euro-area member states1 (cont’d) Other EU member states2
Slovakia Slovenia Spain Cyprus Total Bulgaria Denmark Croatia Poland Romania
Other European countries
Total
of which
SwedenCzech Republic Hungary
United Kingdom Albania Belarus
Bosnia andHerzegovina Guernsey Isle of Man
1 From 2015 including Lithuania. 2 From 2015 excluding Lithuania.3 Consolidated secondary direct investments are secondary capital relations
of investments held by Germans in enterprises abroad by dependent holding companies domiciled abroad.
End of year (pages 16 –17 of the German original)
Europe (cont’d)
Other European countries (cont’d)
of which
Jersey Kosovo Liechtenstein
Macedonia former Yugoslav, Republic of
Moldova,Republic of Norway
RussianFederation Switzerland Serbia1 Turkey
Africa
Ukraine Total
of which
Egypt Algeria Angola Ghana Kenya Libyan Morocco Mauritius
1 From 2015 excluding Kosovo. 2 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding companies domiciled abroad.
For side-headings in tables, see page 9.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
7
I German foreign direct investment abroad2 (a) (cont’d)
End of year (pages 18 –19 of the German original)
Africa (cont’d) America
of which
Total
North AmericaCentral America
Namibia Nigeria South Africa
Tanzania, United Republic of Tunisia Total
of which
TotalCanada United States
of which
Bahamas Barbados BermudaVirgin Islands, British Costa Rica Curaçao
Dominican Republic El Salvador Guatemala Honduras
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding com-panies domiciled abroad.
End of year (pages 20 – 21 of the German original)
America (cont’d)
Central America (cont’d) South America
of which
Total
of which
Cayman Islands Mexico Panama Argentina
Bolivia, Plurinational State of Brazil Chile Ecuador Colombia
Asia
Total
Countries in Near and Middle East
Total
of which
Paraguay Peru Uruguay
Venezuela, Bolivarian Republic of Azerbaijan Bahrain Georgia
Iran, Islamic Republic of
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding com-panies domiciled abroad.
End of year (pages 22 – 23 of the German original)
Asia (cont’d)
Countries in Near and Middle East (cont’d) Other Asian countries
of which
Total
of which
Israel Jordan Qatar Kuwait Lebanon Oman Saudi ArabiaUnited ArabEmirates Bangladesh
China, People’s Republic of1 Hong Kong India Indonesia Japan Kazakhstan
Korea, Republic of Malaysia Pakistan Philippines
1 Excluding Hong Kong. 2 Consolidated secondary direct investments are sec-ondary capital relations of investments held by Germans in enterprises abroad by dependent holding companies domiciled abroad.
For side-headings in tables, see page 9.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
8
I German foreign direct investment abroad2 (a) (cont’d)
End of year (page 24 of the German original)
Asia (cont’d) Oceania and Polar regions
Other Asian countries (cont’d)
Total
of which
of which
Australia New ZealandSingapore Sri Lanka Taiwan Thailand Uzbekistan Viet Nam
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding com-panies domiciled abroad.
Primary German direct investment abroad in € millionReceivables of Outward direct investment relations
Liabilities of Outward direct investment relations
Primary direct investment stocks (accumulated)
Primary and secondary German direct investment abroad (consolidated) in € millionReceivables of Outward direct investment relations
Liabilities of Outward direct investment relations
Primary and secondary direct investment stocks (accumulated)
Key indicators of enterprises abroadNumber
Employees in thousands
Annual turnover in € billion
I German foreign direct investment abroad2 Direct investment and important key indicators of enterprises abroad broken down by
(b) economic activity of the German investors
End of year (page 25 of the German original)
All economic activities
Agriculture, forestry and fishing
Mining and quarrying Manufacturing
Total
of which
Total
of which
Extraction of crude petrol-eum and natural gas
Other mining and quarrying
Manufacture of food products
Manufacture of beverages
Manufacture of tobacco products
Manufacture of textiles
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding companies domiciled abroad.
For side-headings in tables, see page 11.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
9
I German foreign direct investment abroad2 (b) (cont’d)
End of year (pages 26 – 27 of the German original)
Manufacturing (cont’d)
of which
Manufacture of wearing apparel
Manufacture of leather and related products
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
Manufacture of paper and paper products
Printing and reproduction of recorded media
Manufacture of coke and refined petroleum products
Manufacture of chemicals and chemical products
Manufacture of basic pharmaceuti-cal products and pharma-ceutical preparations
Manufacture of rubber and plastic products
Manufacture of other non-metallic mineral products
Manufacture of basic metals
Manufacture of fabricated metal products, except machinery and equipment
Manufacture of electronic components and boards
Manufacture of computer and peripheral equipment
Manufacture of communi-cation equipment; manufacture of consumer electronics
Manufacture of instruments and appliances for measuring, testing and navigation; watches and clocks; irradiation, electromedical and electro-therapeutic equipment
Manufacture of optical in-struments and photographic equipment; manufacture of magnetic and optical media
Manufacture of electrical equipment
Manufacture of machinery and equip-ment n. e. c.
Manufacture of motor vehicles, trailers and semi-trailers
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding com-panies domiciled abroad.
End of year (pages 28 – 29 of the German original)
Manufacturing (cont’d)
Electricity, gas, steam and air conditioning supply
Water supply; sewerage, waste management and remediation activities
Construction
Wholesale and retail trade; repair of motor vehicles and motorcycles
Transportation and storageof which
Manufacture of other transport equipment
Other manu-facturing; repair and installation of machinery and equipment Total
of which
Total
of which
Waste collection, treatment and disposal activities; materials recovery Air transport
Warehousing and support activities for transportation
Accommoda- tion and food service activities
Information and communication Financial and insurance activities
Total
of which
Total
Monetary intermediation
Holding com- panies without management function
Trusts, funds and similar financial entities; other financial service activi - ties
Publishing activities
Programming and broad - casting activities
Telecommuni- cations
Computer programming, consultancy and related activities
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding com-panies domiciled abroad.
For side-headings in tables, see page 11.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
10
I German foreign direct investment abroad2 (b) (cont’d)
End of year (pages 30 – 31 of the German original)
Financial and insurance activities (cont’d)
Real estate activities
Professional, scientific and technical activities
Insurance and reinsurance
Pension funding
Activities auxiliary to financial services and insurance activities Total
of which
Activities of head offices (holding com-panies with management function)2
Public relations and manage-ment consult-ancy activities
Architectural and engineer-ing activities and related technical consultancy
Technical testing and analysis
Scientific research and development
Administrative and support service activities
Education; human health and social work activities
Arts, entertain-ment and recreation
Public adminis-tration; other service activities; non-profit organizations
Private householdsTotal
of which
Advertising; market research and public opinion polling
Rental and leasing activities
Employment activities
Travel agency, tour operator and other reservation service and related activities
Office adminis-trative, office support and other business support activities
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holdingcompanies domiciled abroad.
-
Economic activity of the German investors
Primary German direct investment abroad in € millionReceivables of Outward direct investment relations
Liabilities of Outward direct investment relations
Primary direct investment stocks (accumulated)
Primary and secondary German direct investment abroad (consolidated) in € millionReceivables of Outward direct investment relations
Liabilities of Outward direct investment relations
Primary and secondary direct investment stocks (accumulated)
Number of Investors
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
11
I German foreign direct investment abroad2 Direct investment and important key indicators of enterprises abroad broken down by
(c) economic activity of the foreign investment enterprises
End of year (pages 32 – 33 of the German original)
All economic activities
Agriculture, forestry and fishing
Mining and quarrying Manufacturing
Total
of which
Total
Manufacture of food products
Manufacture of beverages
Manufacture of tobacco products
Manufacture Total of textiles
Extraction of crude petrol-eum and natural gas
Other mining and quarrying
Manufacture of wearing apparel
Manufacture of leather and related products
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
Manufacture of paper and paper products
Printing and reproduction of recorded media
Manufacture of coke and refined petroleum products
Manufacture of chemicals and chemical products
Manufacture of basic pharmaceuti-cal products and pharma-ceutical preparations
Manufacture of rubber and plastic products
Manufacture of other non-metallic mineral products
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding com-panies domiciled abroad.
End of year (pages 34 – 35 of the German original)
Manufacturing (cont’d)
Manufacture of basic metals
Manufacture of fabricated metal products, except machinery and equipment
Manufacture of electronic components and boards
Manufacture of computer and peripheral equipment
Manufacture of communi-cation equipment; manufacture of consumer electronics
Manufacture of instruments and appliances for measuring, testing and navigation; watches and clocks; irradiation, electromedical and electro-therapeutic equipment
Manufacture of optical in-struments and photographic equipment; manufacture of magnetic and optical media
Manufacture of electrical equipment
Manufacture of machinery and equip-ment n. e. c.
Manufacture of motor vehicles, trailers and semi-trailers
Electricity, gas, steam and air conditioning supply
Water supply; sewerage, waste management and remediation activities
Construction
Wholesale and retail trade; repair of motor vehicles and motorcycles
Transportation and storage
Manufacture of other transport equipment
Manufacture of furniture
Other manu-facturing; repair and installation of machinery and equipment Total
of which
Total
of which
Waste collection, treatment and disposal activities; materials recovery Air transport
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holding com-panies domiciled abroad.
For side-headings in tables, see page 13.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
12
I German foreign direct investment abroad2 (c) (cont’d)
End of year (pages 36 – 37 of the German original)
Transportation and storage (cont’d)
Accommoda-tion and food service activities
Information and communication Financial and insurance activities
of which
Total
of which
TotalMonetary intermediation
Holding com-panies without management function
Warehousing and support activities for transportation
Publishing activities
Programming and broadcast-ing activities
Telecommuni-cations
Computer programming, consultancy and related activities
Real estate activities
Professional, scientific and technical activities
Trusts, funds and similar financial entities; other financial service activ-ities
Insurance and reinsurance
Pension funding
Activities auxiliary to financial services and insurance activities Total
of which
Activities of head offices (holding com-panies with management function)2
Public relations and manage-ment consultancy activities
Architectural and engineer-ing activities and related technical consultancy
Technical testing and analysis
End of year (page 38 of the German original)
Professional, scientific and technical activities (cont’d) Administrative and support service activities
Education; human health and social work activities
Arts, entertain-ment and recreation
Public adminis-tration; other service activities; non-profit organizations
of which
Total
of which
Scientific research and development
Advertising; market research and public opinion polling
Rental and leasing activities
Employment activities
Travel agency, tour operator and other reservation service and related activities
Office adminis-trative, office support and other business support activities
Primary German direct investment abroad in € millionReceivables of Outward direct investment relations
Liabilities of Outward direct investment relations
Primary direct investment stocks (accumulated)
Primary and secondary German direct investment abroad (consolidated) in € millionReceivables of Outward direct investment relations
Liabilities of Outward direct investment relations
Primary and secondary direct investment stocks (accumulated)
Key indicators of enterprises abroadNumber
Employees in thousands
Annual turnover in € billion
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
13
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holdingcompanies domiciled abroad.
1 Consolidated secondary direct investments are secondary capital relations of investments held by Germans in enterprises abroad by dependent holdingcompanies domiciled abroad.
I German foreign direct investment abroad3 Primary and secondary direct investment broken down by country of investment and economic activity
(a) of the German investors
End of year; in € million
All economic activities
of which
Manufacturing
Wholesale and retail trade; repair of motor vehicles and motor-cycles
Financial and insurance activities Activities of
head offices; management consultancy activities (hold-ing companies with manage-ment func-tion)Total
of which
Total
of which
Manufacture of chemicals and chemical products
Manufacture of electrical equipment
Manufacture of machinery and equip-ment n. e. c.
Manufacture of motor vehicles, trailers and semi-trailers
Holding com-panies without management function
Jahr = Year
Page 40 of the German originalAll countries
EuropeEU member statesof which: Belgium
Denmark France Ireland Italy Luxembourg Netherlands Austria
Page 41 of the German originalPolandPortugalRomaniaSwedenSlovakiaSpainCzech RepublicHungaryUnited Kingdom
Other European countriesof which: Norway
Page 42 of the German originalRussian FederationSwitzerlandTurkey
Africaof which: South AfricaAmericaof which: Argentina
Brazil Canada Mexico United States
Page 43 of the German originalAsiaof which: China, People’s Republic of1
Hong Kong India Japan Korea, Republic of Malaysia Singapore United Arab Emirates
Oceania and Polar regionsof which: Australia
1 Excluding Hong Kong.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
14
I German foreign direct investment abroad3 Primary and secondary direct investment broken down by country of investment and economic activity
(b) of the foreign investment enterprises
End of year; in € million
All economic activities
of which
Manufacturing
Electricity, gas, steam and air conditioning supply
Wholesale and retail trade; repair of motor vehicles and motorcyclesTotal
of which
Manufacture of chemicals and chemical products
Manufacture of basic pharmaceut-ical products and pharma-ceutical preparations
Manufacture of instruments and appliances for measuring, testing and navigation; watches and clocks; irradi-ation, electro-medical and electrothera-peutic equip-ment
Manufacture of electrical equipment
Manufacture of machinery and equip-ment n. e. c.
Manufacture of motor vehicles, trailers and semi-trailers
Information and communi-cation
Financial and insurance activities
Real estate activities
Activities of head offices; management consulting ac-tivities (holding companies with manage-ment func-tion)
Administrative and support service activ-itiesTotal
Monetary intermediation
Holding com-panies without management function
Trusts, funds and similar financial en-tities; other financial ser-vice activities
Insurance and reinsurance, Pension fund-ing
Activities auxiliary to financial services and insurance activities
Jahr = Year
Page 44 – 45 of the German originalAll countries
EuropeEU member statesof which: Belgium
DenmarkFranceIrelandItalyLuxembourgNetherlandsAustria
Page 46 – 47 of the German originalPolandPortugalRomaniaSwedenSlovakiaSpainCzech RepublicHungaryUnited Kingdom
Other European countriesof which: Norway
Page 48 – 49 of the German originalRussian FederationSwitzerlandTurkey
Africaof which: South AfricaAmericaof which: Argentina
BrazilCanadaMexicoUnited States
Page 50 – 51 of the German originalAsiaof which: China, People’s Republic of1
Hong KongIndiaJapanKorea, Republic ofMalaysiaSingaporeUnited Arab Emirates
Oceania and Polar regionsof which: Australia
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
15
1 Excluding Hong Kong.
II Foreign direct investment in Germany1 Foreign corporate assets broken down by type of cross ownership and economic activity
(a) from all countries(b) from EU member states(c) from the United States
End of year (pages 52 – 53, 54 – 55 and 56 – 57 of the German original)
Item
Economic activity of the enterprises in Germany (investment enterprises)
All economic activities
of which
Manufacturing
Wholesale and retail trade; repair of motor vehicles and motor-cycles
Financial and insurance activities
Activities of head offices; management consultancy activities (holding com-panies with management function)Total
of which
Holding companies without management function
Foreign direct investment in € million
Primary foreign direct investment in GermanyPrimary foreign investment capital1
+ direct lendings by foreign capital owner2
+ lendings by enterprises abroad3 to their sister companies in Germany
Liabilities of primary foreign direct investment relations
minus– direct lendings of direct investment
enterprises in Germany to their foreign investors2
– lendings of enterprises in Germany3 to their sister companies abroad
Receivables of primary foreign direct investment relations
Total of primary foreign direct investment
Primary and secondary foreign direct investment in Germany (consolidated)4
Primary foreign investment capital1
+ secondary foreign investment capital1 (held by dependent holding companies)
+ direct lendings by foreign capital owner2
+ lendings by dependent holding companies
+ lendings by enterprises abroad3 to their sister companies in Germany
Liabilities of primary and secondary foreign direct investment relations
minus– direct lendings of direct investment enterprises in Germany to their investors
abroad2
– lendings to dependent holding companies
– lendings to enterprises in Germany3 to their sister companies abroad
Receivables of primary and secondary foreign direct investment relations
Total of primary and secondary foreign direct investment
Data on enterprises in Germany5Enterprises with primary foreign capital interests
NumberEmployees in thousandsAnnual turnover in € billion
Enterprises with secondary foreign capital interests
NumberEmployees in thousandsAnnual turnover in € billion
Footnotes (a), (b) and (c) on pages 52 – 57 of the German original1 Including pro rate reserves and profits, less losses. 2 Also includes direct lending to enterprises with secondary foreign capital interests. 3 Only if the corporate headquarters are located abroad. 4 Excluding primary direct investment in de-pendent holding companies, ie excluding interests in the nominal capital and the
reserves of dependent holding companies and excluding lendings to dependent holding companies. 5 Key data on enterprises with primary and also with second-ary foreign capital interests are shown in both of the following sections. Thus they are counted twice.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
16
II Foreign direct investment in Germany2 Direct investment and important key indicators of enterprises in Germany broken down by
(a) country of investor
End of year (pages 58 – 59 of the German original)
All countries
Europe
Total
EU member states
Total
Euro-area member states1
Total
of which
Belgium Finland France Greece Ireland Italy
Other EU member states2
Total
of which
Luxembourg Malta Netherlands Austria Portugal Slovenia Spain Cyprus Denmark
of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany. Key data on enterprises in 4
which investors from various countries hold capital interests are shown under the country concerned. The total of the figures for individual countriescan therefore differ from the total for the group of countries.
End of year (pages 60 – 61 of the German original)
Europe (cont’d)
EU member states (cont’d) Other European countries
Other EU member states1 (cont’d)
Total
of which
of which
Gibraltar Guernsey Isle of Man Jersey LiechtensteinPoland SwedenCzech Republic Hungary
United Kingdom
Africa America
Total
of which
Total
North America
Mauritius South Africa Total
of which
Norway
Russian Federation Switzerland Turkey Canada United States
1 From 2015 excluding Lithuania. 2 Consolidated secondary direct invest- ments are secondary capital relations of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled inGermany. 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 total for the group of countries.
End of year (pages 62 – 63 of the German original)
America (cont’d)
Central America South America
Total
of which
Total
of which
Bahamas Bermuda
Virgin Islands, British
Cayman Islands Mexico Panama Brazil Uruguay
Asia
Total
Countries in Near and Middle East Other Asian countries
Total
of which
Total
of which
Iran, Islamic Republic of Israel Qatar Kuwait Lebanon
United ArabEmirates
China,1 People’s Republic of
1 Excluding Hong Kong. 2 Consolidated secondary direct investments are sec-ondary capital relations of investments held by foreigners in enterprises in Ger-many by dependent holding companies domiciled in Germany. 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 coun-tries can therefore differ from the total for the group of countries.
For side-headings in tables, see page 18
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
17
1 From 2015 including Lithuania. 2 From 2015 excluding Lithuania.3 Consolidated secondary direct investments are secondary capital relations
of investments held by Germans in enterprises abroad by dependent holding companies domiciled abroad.
II Foreign direct investment in Germany2 (a) (cont’d)
End of year (page 64 of the German original)
Asia (cont’d) Oceania and Polar regions
Other Asian countries (cont’d)
Total
of which
of which AustraliaHong Kong India Japan
Korea, Republic of Malaysia Singapore Taiwan Thailand
1 Consolidated secondary direct investments are secondary capital relations of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany. 2 Key data on enterprises in which investors
from various countries hold capital interests are shown under the country con-cerned. The total of the figures for individual countries can therefore differ from the total for the group of countries.
Primary foreign direct investment in Germany in € millionLiabilities of inward direct investment relations
Receivables of inward direct investment relations
Primary direct investment stocks (accumulated)
Primary and secondary foreign direct investment in Germany (consolidated) in € millionLiabilities of inward direct investment relations
Receivables of inward direct investment relations
Primary and secondary direct investment stocks (accumulated)
Key indicators of enterprises in GermanyNumber
Employees in thousands
Annual turnover in € billion
II Foreign direct investment in Germany2 Direct investment and important key indicators of enterprises in Germany broken down by
(b) economic activity of the investment enterprises
End of year (page 65 of the German original)
All economicactivities
Agriculture,forestry andfishing
Mining and quarrying Manufacturing
Total
of which
Total
Manufactureof foodproducts
Manufactureof beverages
Manufactureof tobaccoproducts
Manufacture of textiles
Extractionof crudepetroleumandnatural gas
Other miningand quarrying
1 Consolidated secondary direct investments are secondary capital relations of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany.
Jahr = Year
For side-headings in tables, see page 20.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
18
II Foreign direct investment in Germany2 (b) (cont’d)
End of year (pages 66 – 67 of the German original)
Manufacturing (cont’d)
Manufacture of wearing apparel
Manufacture of leather and related products
Manufacture of wood and of products of wood and cork, except furniture; manufacture of articles of straw and plaiting materials
Manufacture of paper and paper products
Printing and reproduction of recorded media
Manufacture of coke and refined petroleum products
Manufacture of chemicals and chemical products
Manufacture of basic pharmaceuti-cal products and pharma-ceutical preparations
Manufacture of rubber and plastic products
Manufacture of other non-metallic mineral products
Manufacture of basic metals
Manufacture of fabricated metal prod-ucts, except machinery and equip-ment
Manufacture of electronic components and boards
Manufacture of computer and peripheral equipment
Manufacture of communi-cation equipment; manufacture of consumer electronics
Manufacture of instruments and appliances for measuring, testing and navigation; watches and clocks; irradiation, electromedical and electro-therapeutic equipment
Manufacture of optical instruments and photo-graphic equipment; manufacture of magnetic and optical media
Manufacture of electrical equipment
Manufacture of machinery and equip-ment n. e. c.
Manufacture of motor vehicles, trailers and semi-trailers
1 Consolidated secondary direct investments are secondary capital relations of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany.
End of year (pages 68 – 69 of the German original)
Manufacturing (cont’d)
Electricity, gas, steam and air conditioning supply
Water supply; sewerage, waste management and remediation activities
Construction
Wholesale and retail trade; repair of motor vehicles and motorcycles
Transportation and storage
Manufacture of other transport equipment
Manufacture of furniture
Other manu-facturing; repair and installation of machinery and equip-ment Total
of which
Total
of which
Waste collection, treatment and disposal activities; materials recovery
Land transport and transport via pipelines
Accommoda-tion and food service activities
Information and communication Financial and insurance activities
Total
of which
TotalMonetary intermediation
Holding com-panies without management function
Water transport
Publishing activities
Programming and broadcast-ing activities
Telecommuni-cations
Computer programming, consultancy and related activities
1 Consolidated secondary direct investments are secondary capital relations of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany.
For side-headings in tables, see page 20.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
19
II Foreign direct investment in Germany2 (b) (cont’d)
End of year (pages 70 –71 of the German original)
Financial and insurance activities (cont’d)
Real estate activities
Professional, scientific and technical activities
Trusts, funds and similar financial entities; other financial ser-vice activities
Insurance and reinsurance
Pension funding
Activities auxiliary to financial services and insurance activities Total
of which
Management consultancy activities (hold-ing companies with manage-ment func-tion)2
Public relations and manage-ment consult-ancy activities
Architectural and engineer-ing activities and related technical consultancy
Technical testing and analysis
Administrative and support service activities
Education; human health and social work activities
Arts, entertain-ment and recreation
Public adminis-tration; other service activ-ities; non-profit organizationsTotal
of which
Scientific research and development
Advertising, market re-search and public opinion polling
Rental and leasing activ-ities
Employment activities
Travel agency, tour operator and other res-ervation ser-vice and related activities
Office adminis-trative, office support and other business support activities
1 Consolidated secondary direct investments are secondary capital relations of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany.
Primary foreign direct investment in Germany in € millionLiabilities of inward direct investment relations
Receivables of inward direct investment relations
Primary direct investment stocks (accumulated)
Primary and secondary foreign direct investment in Germany (consolidated) in € millionLiabilities of inward direct investment relations
Receivables of inward direct investment relations
Primary and secondary direct investment stocks (accumulated)
Key indicators of enterprises in GermanyNumber
Employees in thousands
Annual turnover in € billion
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
20
II Foreign direct investment in Germany2 Direct investment and important key indicators of enterprises in Germany broken down by
(c) country where the corporate headquarters are resident
End of year (pages 72 – 73 of the German original)
All countries
Europe
Total
EU member states
Total
Euro-area member states1
Total
of which
Belgium Germany Finland France Greece Ireland Italy
Other EU member states2
Total
of which
Luxembourg Malta Netherlands Austria Portugal Slovenia Spain Cyprus Denmark Poland
of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany.
End of year (pages 74 – 75 of the German original)
Europe (cont’d)
EU member states (cont’d) Other European countries
Other EU member states1 (cont’d)
Total
of which
of which
Gibraltar Guernsey Isle of Man Iceland Jersey LiechtensteinSwedenCzech Republic Hungary
United Kingdom
Africa America
Total
of which
Total
North America
South Africa Total
of which
Norway
Russian Federation Switzerland Turkey Canada United States
1 From 2014 excluding Latvia; from 2015 excluding Lithuania. 2 Consolidated secondary direct investments are secondary capital relations of investments held
by foreigners in enterprises in Germany by dependent holding companies domi-ciled in Germany.
End of year (pages 76 – 77 of the German original)
America (cont’d) Asia
Central America South America
Total
Countries in
Total
of which
Total
of which
TotalBermuda
Virgin Islands, British Curaçao
Cayman Islands Mexico Brazil
Near and Middle East Other Asian countries
of which
Total
of which
Iran, Islamic Republic of Israel Qatar Kuwait Lebanon Oman Saudi Arabia
United ArabEmirates
China,1 People’s Republic of
1 Excluding Hong Kong. 2 Consolidated secondary direct investments are sec-ondary capital relations of investments held by foreigners in enterprises in Ger-many by dependent holding companies domiciled in Germany.
For side-headings in tables, see page 22.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
21
1 From 2015 including Lithuania. 2 From 2015 excluding Lithuania.3 Consolidated secondary direct investments are secondary capital relations
II Foreign direct investment in Germany2 (c) (cont’d)
End of year (page 78 of the German original)
Asia (cont’d) Oceania and Polar regions
Other Asian countries (cont’d)
Total
of which
of which Australia
New ZealandHong Kong India Japan
Korea, Republic of Malaysia Singapore Taiwan Thailand
1 Consolidated secondary direct investments are secondary capital relations of investments held by foreigners in enterprises in Germany by dependent holding companies domiciled in Germany.
Primary foreign direct investment in Germany in € millionLiabilities of inward direct investment relations
Receivables of inward direct investment relations
Primary direct investment stocks (accumulated)
Primary and secondary foreign direct investment in Germany (consolidated) in € millionLiabilities of inward direct investment relations
Receivables of inward direct investment relations
Primary and secondary direct investment stocks (accumulated)
Key indicators of enterprises in GermanyNumber
Employees in thousands
Annual turnover in € billion
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
22
II Foreign direct investment in Germany3 Primary and secondary direct investment broken down by economic activity of the investment enterprises
(a) and country of investor
End of year; in € million (pages 80 – 83 of the German original)
Economic activity of the investment enterprises
All economicactivities
of which
Manufacturing
Electricity, gas, steam and air conditioning supply
Wholesale and retail trade; repair of motor vehicles and motor-cyclesTotal
of which
Manufactureof cokeand refinedpetroleumproducts
Manufactureof chemicalsand chemicalproducts
Manufacture of basic pharmaceut-ical products and pharma- ceutical prep- arations
Manufacture of other non-metallic min-eral products
Manufacture of instruments and appliances for measuring, testing and navigation; watches and clocks; irradi-ation, electro-medical and electrothera-peutic equip-ment
Manufacture of machinery and equip-ment n. e. c.
Information and communication Financial and insurance activities
Real estate activities
Management consultancy activities (hold-ing companies with manage-ment func-tion)
Administrative and support service activitiesTotal
of which
Total
of which
Telecommuni-cations
Monetary intermediation
Holding com-panies without management function
Trusts, funds and similar financial en-tities; other financial ser-vice activities
Insurance and reinsurance, Pension funding
Page 80 – 81 of the German original
All countriesof which: Europe
of which: EU countriesof which: Belgium
DenmarkFinlandFranceItalyLuxembourgNetherlands
Jahr = Year
Page 82 – 83 of the German original
AustriaSwedenSpainUnited Kingdom
SwitzerlandAmericaof which: Canada
United StatesAsiaof which: Japan
Jahr = Year
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
23
II Foreign direct investment in Germany3 Primary and secondary direct investment broken down by economic activity of the investment enterprises
(b) and country where the corporate headquarters are resident
End of year; in € million (pages 84 – 87 of the German original)
Economic activity of the investment enterprises
All economicactivities
of which
Manufacturing
Electricity, gas, steam and air conditioning supply
Wholesale and retail trade; repair of motor vehicles and motor-cyclesTotal
of which
Manufactureof cokeand refinedpetroleumproducts
Manufactureof chemicalsand chemicalproducts
Manufacture of basic pharmaceut-ical products and pharma- ceutical prep- arations
Manufacture of other non-metallic min-eral products
Manufacture of instruments and appliances for measuring, testing and navigation; watches and clocks; irradi-ation, electro-medical and electrothera-peutic equip-ment
Manufacture of machinery and equip-ment n. e. c.
Information and communication Financial and insurance activities
Real estate activities
Management consultancy activities (hold-ing companies with manage-ment func-tion)
Administrative and support service activitiesTotal
of which
Total
of which
Telecommuni-cations
Monetary intermediation
Holding com-panies without management function
Trusts, funds and similar financial en-tities; other financial ser-vice activities
Insurance and reinsurance, Pension funding
Page 84 – 85 of the German original
All countriesof which: Europe
of which: EU countriesof which: Belgium
DenmarkGermanyFinlandFranceItalyLuxembourgNetherlands
Jahr = Year
Page 86 – 87 of the German original
AustriaSwedenSpainUnited Kingdom
SwitzerlandAmericaof which: Canada
United StatesAsiaof which: China, People’s Republic of1
Japan
Jahr = Year
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
24
1 Excluding Hong Kong.
III Foreign direct investment stocks at market values, including real estate and con struction1 German foreign direct investment abroad, total
End of year; in € million (page 88 of the German original)
Item 2014 2015 2016 2017
German direct investment at market values1, including real estate and constructionPrimary German investment capital at book values arising from direct shareholdings
+ difference between market and book values arising from direct shareholdings in listed companies
+ real estate owned by Germans abroad2
+ receivables arising from construction2,3
Primary German investment capital at market values
plus
+ direct lendings from German capital owners4
+ loans from enterprises in Germany5 to their sister companies abroad4
Receivables arising from primary German direct investment relations
minus
– direct loans from direct investment companies abroad to their German investors4
– loans from enterprises abroad5 to their sister companies in Germany4
Liabilities arising from primary German direct investment relations
Total primary German foreign direct investment at market values (including real estate and construction)
1 Shareholdings in listed direct investment companies are evaluated using the stock market value and not the book value from the balance sheets of the direct investment companies. 2 According to the international investment position. 3 Con cerns building sites that have existed for more than one year. 4 According
to the foreign di rect investment stock statistics, which are prepared in a different way to the data on credit re lations published in the international investment pos-ition. 5 Only if the corporate headquar ters are domiciled in Germany.
2 Foreign direct investment in Germany, total
End of year; in € million
Item 2014 2015 2016 2017
Foreign direct investment at market values1, including real estate and constructionPrimary foreign investment capital at book values arising from direct shareholdings
+ difference between market and book values arising from direct shareholdings in listed companies
+ real estate owned by foreigners in Germany2
+ liabilities arising from construction2,3
Primary foreign investment capital at market values
plus
+ direct loans from foreign capital owners4
+ loans from enterprises abroad5
to their sister companies in Germany4
Liabilities arising from primary foreign direct investment relations
minus
– direct loans from direct investment companies in Germany to their foreign investors4
– loans from enterprises in Germany5
to their sister companies abroad4
Receivables arising from primary foreign direct investment relations
Total primary foreign direct investment at market values (including real estate and construction)
1 Shareholdings in listed direct investment companies are evaluated using the stock market value and not the book value from the balance sheets of the direct investment companies. 2 According to the international investment position. 3 Con cerns building sites that have existed for more than one year. 4 According
to the foreign di rect investment stock statistics, which are prepared in a different way to the data on credit re lations published in the international investment pos-ition. 5 Only if the corporate headquar ters are domiciled abroad.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
25
The Foreign direct investment stock statistics are based on
reports by domestic enterprises and individuals on “Resi-
dents’ assets abroad” and “Non-residents’ assets in Ger-
many”, which have to be submitted to the Deutsche Bun-
desbank 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 provi-
sions also include the report forms annexed to the Foreign
Trade and Payments Regulation and which form an inte-
gral part of that Regulation.
According to international standards, foreign direct invest-
ment is defined as cross-border participation in the capital
or voting rights of an enterprise of 10% or more. Owing
to a national reporting threshold, reports must only be
submitted for foreign direct investment enterprises with a
balance sheet total of more than (the equivalent of) €3
million. Secondary participating interests must be reported
if they are majority-owned. When calculating foreign
direct investment stock, loans between financial inter-
mediaries (banks and other financial intermediaries) are
not classified as foreign direct investment.
I Reporting requirements and contents of the reports
1 German foreign direct investment abroad (Outward foreign direct investment)
Reports are required to be submitted by German enter-
prises and individuals 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 equiva-
lent 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:
(a) on the party required to report: name, domicile, eco-
nomic sector, legal form, balance sheet total, annual
turnover (in the case of banks: 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 the case
of banks: annual production value) and the number
of employees;
– the reason for reporting if the participating interest is
reported for the first time: a newly established enter-
prise, purchase, merger or acquisition, or overshoot-
ing of the reporting threshold;
– the balance sheet of the foreign enterprise in which
the party required to report has a primary or second-
ary 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 attributable
either directly to the party required to report or to
affiliated enterprises and, in the case of secondary
participating interests, the shares in the asset and
liability positions given in that balance sheet which
are attributable to the foreign enterprise with a pri-
mary 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 domi-
cile. In the case of primary participating interests in a
listed enterprise, the stock market value of the shares
held is also reported.
2 Foreign direct investment in Germany (Inward foreign direct investment)
Reports are required to be submitted by every German
enterprise with a balance sheet total of more than €3 mil-
lion in which a non-resident (or several economically
linked non-residents together) holds 10% or more of the
shares or voting rights in the German enterprise on the
balance sheet date. Reports are also required of non-
residents’ branch offices or permanent establishments in
Germany with operating assets in excess of €3 million.
Secondary participating interests are to be reported if
non-residents have a holding of more than 50% in a
domestic enterprise – such enterprises are deemed to be
“dependent enterprises” – and if these dependent enter-
prises themselves have primary or secondary holdings
totalling more than 50% of the shares or voting rights in
other domestic enterprises.
Reporting requirements
Contents of the reports
Reporting requirements
Methodological notes
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
26
The reports must include the following information:
(a) on the enterprise required to report:
– company name, domicile, economic sector, legal
form, annual turnover (in the case of banks: annual
production value) and the number of employees;
– the reason for reporting if the enterprise required to
report submits for the first time: a newly established
enterprise, purchase, merger or acquisition, or over-
shooting of the reporting threshold;
– the balance sheet of the enterprise required to
report, including credit relations with affiliated enter-
prises; in the case of primary participating interests in
a listed enterprise, the stock market value of the
shares held is also reported;
(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 attributable to that non-resident;
(c) on every domestic enterprise in which non-residents
hold a secondary participating interest of the kind that
is to be reported (see notes on the reporting require-
ments):
– company name, domicile, economic sector, legal
form, annual turnover (in the case of banks: annual
production value) and the number of employees;
– the reason for reporting if the participating interest is
reported for the first time: a newly established enter-
prise, purchase, merger or acquisition, or overshoot-
ing of the reporting threshold;
– the balance sheet of the domestic enterprise in
which the enterprise required to report has a primary
or secondary participating interest as at the report-
ing date, as well as the shares in the asset and liabil-
ity positions which are directly attributable to the
enterprise with a primary participating interest and
credit relations with other affiliated enterprises (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 a secondary participating interest, the
shares in the asset and liability positions of this bal-
ance sheet which are attributable to the domestic
enterprise holding the primary participating interest.
II Calculation of the stock of foreign direct investment
A distinction is made in the presentation of the statistics
between primary foreign direct investment and consoli-
dated primary and secondary foreign direct investment.
Primary foreign direct investment constitutes the primary
capital links arising from residents’ participating interests
in enterprises abroad or non-residents’ participating inter-
ests in enterprises in Germany.
Pursuant to the internationally agreed “extended direc-
tional principle” (OECD Benchmark Definition of Foreign
Direct Investment), lending between sister companies is
classified according to the country of domicile of the
group headquarters. Cross-border credit relations with
sister companies are counted as outward foreign direct
investment, irrespective of the underlying direction of the
foreign direct investment relation, if the group headquar-
ters are domiciled in Germany. In this instance, outward
foreign direct investment is increased when an enterprise
in Germany lends to a sister company domiciled abroad
and reduced in the case of borrowing on the part of a
sister company domiciled abroad. If the group headquar-
ters are domiciled abroad, cross-border lending between
sister companies is recorded as inward foreign direct
investment. Inward foreign direct investment is increased
when an enterprise domiciled abroad lends to a sister
company in Germany and reduced in the case of cross-
border borrowing on the part of a sister company in
Germany.
A breakdown of primary foreign direct investment stock is
derived from the following components of the statistical
reports:
1 the shares in the nominal capital held primarily by
shareholders (shares in subscribed or called-up capital,
or in endowment capital), plus pro rata reserves and
profits less pro rata losses. These shares are deter-
mined on the basis of the respective pro rata shares of
the individual primary shareholders in the nominal
capital. The amounts involved must be stated in the
reports. Foreign direct investment enterprises’ partici-
pation in investor capital is to be deducted from this if
it does not constitute a foreign direct investment rela-
tion (participation of less than 10% in investor capital).
These components yield the primary investment capital.
Contents of the reports
Primary foreign direct invest-ment
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
27
In addition, the primary foreign direct investment capital
includes:
2 direct lending by primary or secondary shareholders in
Germany or abroad;
plus
3 direct lending by other affiliated enterprises, namely,
– in the case of outward foreign direct investment,
lending by sister companies in Germany if the group
headquarters are domiciled in Germany, and,
– in the case of inward foreign direct investment, lend-
ing by sister companies abroad if the group head-
quarters are domiciled abroad.
The sum of components 1 to 3 is referred to as “claims
arising from primary German foreign direct investment re-
lations” in the case of outward foreign direct investment
and “liabilities arising from primary German foreign direct
investment relations” in the case of inward foreign direct
investment.
These claims (outward foreign direct investment) and
liabilities (inward foreign direct investment) are decreased
by the following components (“reverse investments”):
4 direct lending by foreign direct investment enterprises
to their primary or secondary shareholders in Germany
or abroad;
and
5 direct lending by other affiliated enterprises, namely,
– in the case of outward foreign direct investment,
lending by sister companies abroad if the group
headquarters are domiciled in Germany, and,
– in the case of inward foreign direct investment, lend-
ing by sister companies in Germany if the group
headquarters are domiciled abroad.
Primary outward foreign direct investment is derived from
claims arising from primary German foreign direct invest-
ment relations (components 1 to 3) less liabilities arising
from primary German foreign direct investment relations
(components 4 and 5). Correspondingly, primary inward
foreign direct investment is derived from liabilities arising
from primary foreign direct investment relations abroad
(components 1 to 3) less claims arising from primary for-
eign direct investment relations abroad (components 4
and 5).
In order to provide as comprehensive a picture as possible
of the pattern of foreign direct investment and its devel-
opment, primary and secondary foreign direct investment
held via direct holding companies is also shown in these
statistics in a consolidated form. Such consolidation is
effected by deducting primary foreign direct investment in
dependent holding companies from the aggregate pri-
mary and secondary foreign direct investment. Primary
foreign direct investment in dependent holding companies
is thus exchanged for the investment made by these de-
pendent holding companies in further primary participat-
ing interests. 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 foreign investment that is included in
the consolidated statistics comprises:
– in the case of outward foreign direct investment, sec-
ondary capital links arising from residents’ participating
interests in foreign enterprises via dependent holding
companies domiciled abroad, and,
– in the case of inward foreign direct investment, sec-
ondary capital links arising from non-residents’ partici-
pating interests in German enterprises via dependent
holding companies domiciled in Germany.
The way in which secondary foreign direct investment is
calculated from the balance sheet items is the same as
that used to calculate primary foreign direct investment,
with the dependent holding company taking the place of
the primary shareholder.
III Foreign direct investment stocks at market values including real estate and construction
Unlike the calculation of the stock of foreign direct invest-
ment described in section II, here the shareholdings in
listed direct investment companies are evaluated using the
stock market value and not the book value from the bal-
ance sheets of the direct investment companies. In line
with an international agreement, cross-border private real
estate as well as construction sites that have existed for
more than one year are supplemented by cumulated data
on the balance of payments statistics.
Aggregate primary and secondary foreign direct investment
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
28
showing the groups of countries to which the countries appearing in this Special Statistical Publication belong
Europe
EU countries (28)
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
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Portugal
Slovakia
Slovenia
Spain
(including the Canary Islands, Ceuta and Melilla)
Other EU countries
Bulgaria
Croatia
Czechia
Denmark
Hungary
Poland
Romania
Sweden
United Kingdom
(Great Britain and Northern Ireland)
Other European countries
Albania
Andorra
Belarus
Bosnia and Herzegovina
Faroe Islands
Gibraltar
Guernsey
Holy See
Iceland
Isle of Man
Jersey
Kosovo
Liechtenstein
Macedonia, former
Yugoslav Republic of
Moldova, Republic of
Montenegro
Norway
Russian Federation
San Marino
Serbia
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
Eswatini
Ethiopia
List of countries
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
29
Gambia
Ghana
Guinea
Guinea-Bissau
Kenya
Lesotho
Liberia
Libyan
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
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
Argentina
Bolivia, Plurinational State of
Brazil
Chile
Colombia
Ecuador
Falkland Islands
Guyana
Paraguay
Peru
Suriname
Uruguay
Venezuela, Bolivarian Republic of
Asia
Near and Middle Eastern countries
Armenia
Azerbaijan
Bahrain
Georgia
Iran, Islamic Republic of
Iraq
Israel
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
30
Gabon
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
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
31
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
32
Special Statistical Publications*
1 Banking statistics guidelines,
January 20191
2 Banking statistics customer classification,
January 2019
3 Aufbau der bankstatistischen Tabellen,
July 20132
4 Financial accounts for Germany 2012 to 2017,
May 2018
5 Extrapolated results from financial statements of German enterprises from 1997 to 2015,
December 2016
6 Verhältniszahlen aus Jahresabschlüssen deutscher Unternehmen von 2015 bis 2016,
May 20192
7 Notes on the coding list for the balance of payments statistics,
September 2013
8 The balance of payments statistics of the Federal Republic of Germany, 2nd edition,
May 1990o
9 Securities deposits,
August 2005
10 Foreign direct investment stock statistics,
April 20193
11 Balance of payments by region,
July 2013
12 Technologische Dienstleistungen in der Zahlungsbilanz,
June 20112
* Unless otherwise indicated, these publications are available in both English and German on the Bundesbank’s website.º Not available on the website.1 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.2 Available in German only.3 Only the headings and explanatory notes to the data contained in the German originals are available in English.
Deutsche Bundesbank
Foreign direct investment stock statistics
April 2019
33
Deutsche Bundesbank
6
Bestandserhebung über DirektinvestitionenApril 2019
I. Deutsche Direktinvestitionen im Ausland (Aktive Direktinvestitionen) 1. Deutsches Unternehmensvermögen nach Art der Kapitalverflechtung und Wirtschaftszweigen
a) in allen Ländern Stand am Jahresende
Wirtschaftszweige der Unternehmen im Ausland (Investitionsobjekte)
darunter:
Alle Wirtschaftszweige Verarbeitendes Gewerbe
Position 2015 2016 2017 2015 2016 2017
Deutsche Direktinvestitionen in Mio €
Unmittelbare deutsche Direktinvestitionen im Ausland
Unmittelbares deutsches Beteiligungskapital 1) 1 155 532 1 223 759 1 266 669 159 992 173 762 187 207+ direkte Kredite von deutschen Kapitaleignern 2) 162 593 163 362 173 063 37 124 42 194 41 940+ Kredite von Unternehmen in Deutschland 3)
an ihre Schwestergesellschaften im Ausland 113 377 115 386 129 243 23 510 27 314 29 779
Forderungen aus unmittelbarendeutschen Direktinvestitionsbeziehungen 1 431 501 1 502 507 1 568 975 220 626 243 270 258 926
abzüglich− direkte Kredite von Direktinvestitionsunternehmen
im Ausland an ihre deutschen Investoren 2) 241 736 258 992 246 736 26 211 28 873 27 322− Kredite von Unternehmen im Ausland 3)
an ihre Schwestergesellschaften in Deutschland 120 068 137 973 155 289 25 542 28 369 32 355
Verbindlichkeiten aus unmittelbarendeutschen Direktinvestitionsbeziehungen 361 804 396 965 402 025 51 753 57 242 59 677
Summe der unmittelbaren deutschen Direktinvestitionen 1 069 697 1 105 543 1 166 950 168 873 186 029 199 248
Unmittelbare und mittelbare deutsche Direktinvestitionenim Ausland (konsolidiert) 4)
Unmittelbares deutsches Beteiligungskapital 1) 579 437 646 264 649 826 159 992 173 762 187 207+ mittelbares deutsches Beteiligungskapital 1)
(über abhängige Holdinggesellschaften) 602 335 637 131 654 342 193 263 203 197 199 193+ direkte Kredite von deutschen Kapitaleignern 2) 132 409 138 296 143 449 37 124 42 194 41 940+ Kredite von abhängigen Holdinggesellschaften 62 827 60 974 67 579 9 498 9 963 10 965+ Kredite von Unternehmen in Deutschland 3)
an ihre Schwestergesellschaften im Ausland 91 641 93 980 103 200 23 504 26 980 29 639
Forderungen aus unmittelbaren und mittelbarendeutschen Direktinvestitionsbeziehungen 1 468 649 1 576 644 1 618 396 423 382 456 096 468 944
abzüglich− direkte Kredite von Direktinvestitionsunternehmen
im Ausland an ihre deutschen Investoren 2) 218 124 231 004 218 126 26 211 28 873 27 322− Kredite an abhängige Holdinggesellschaften 84 119 67 206 62 925 6 091 7 646 6 137− Kredite von Unternehmen im Ausland 3)
an ihre Schwestergesellschaften in Deutschland 111 201 125 775 140 924 25 445 28 117 31 729
Verbindlichkeiten aus unmittelbaren und mittelbarendeutschen Direktinvestitionsbeziehungen 413 444 423 985 421 975 57 747 64 635 65 188
Summe der unmittelbaren und mittelbarendeutschen Direktinvestitionen 1 055 205 1 152 659 1 196 421 365 635 391 461 403 756
Angaben über die Unternehmen im Ausland
Unternehmen mit unmittelbarer deutscher Kapitalbeteiligung
Anzahl 24 544 25 052 25 365 6 482 6 688 6 809Beschäftigte in Tsd 3 773 3 896 4 034 2 071 2 126 2 235Jahresumsatz in Mrd € 1 234 1 321 1 375 506 533 572
Unternehmen mit mittelbarer deutscher Mehrheitsbeteiligung
Anzahl 12 587 12 873 12 974 3 848 3 800 3 787Beschäftigte in Tsd 3 336 3 406 3 558 1 540 1 593 1 637Jahresumsatz in Mrd € 1 481 1 559 1 662 539 573 666
1 Einschl. anteilige Rücklagen und Gewinne, abzüglich Verluste. 2 Darin enthalten Kapitalbeteiligung. 3 Sofern die Konzernspitze ihren Sitz in Deutschland hat. 4 Ohnesind auch direkte Kreditbeziehungen zu Unternehmen mit mittelbarer deutscher unmittelbare Direktinvestitionen in abhängige Holdinggesellschaften, d.h. ohne
http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.D.F5.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.D.F5.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.D1.FL.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.D1.FL.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.U1.FL.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.U1.FL.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.D.F.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.D.F.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.L.D2.FL.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.L.D2.FL.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.L.U1.FL.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.L.U1.FL.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.L.D.F.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.L.D.F.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.NO.D.F.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.NO.D.F.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.___BOAH.F5.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.___BOAH.F5.ALL.EUR.I.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.SEC.A.___BUAH.F5.ALL.EUR.C.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.SEC.A.___BUAH.F5.ALL.EUR.C.V._X.C.2http://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.___D10.FL.ALL.EUR.I.V._X._T._Zhttp://www.bundesbank.de/Navigation/DE/Statistiken/Zeitreihen_Datenbanken/Makrooekonomische_Zeitreihen/its_details_value_node.html?tsId=BBFDV.A.DO.W1.S1.IMC.A.__