The U.S. direct investment abroad position, or cumulative level of investment, increased $364.0 billion to $6.68 trillion at the end of 2023, according to statistics released today by the U.S. Bureau of Economic Analysis. The increase reflected a $147.1 billion increase in the position in Europe (chart 1), primarily in Ireland, Switzerland, and the Netherlands. By industry, holding company affiliates had the largest increase.
The foreign direct investment in the United States position increased $227.0 billion to $5.39 trillion at the end of 2023. The increase mainly reflected a $96.0 billion increase in the position from Canada and an $86.1 billion increase from Europe, primarily a $58.9 billion increase from Germany. By industry, affiliates in manufacturing increased the most, increasing $58.6 billion to a total investment position of $2.22 trillion.
Other highlights from the direct investment statistics for 2023:
- U.S. multinational enterprises (MNEs) earned income of $577.2 billion in 2023 on their cumulative investment abroad, a 2.3 percent increase from 2022.
- Foreign MNEs earned income of $268.6 billion in 2023 on their cumulative investment in the United States, a 7.0 percent decrease from 2022.