U.S. affiliates of foreign companies: operations in 2001.

Zeile, William J.

PRELIMINARY results from BEA's latest annual survey of foreign direct investment in the United States (FDIUS) indicate that the current-dollar gross product of U.S. nonbank affiliates of foreign companies fell 6 percent in 2001, the first decrease on record. The decrease, from $517 billion in 2000 to $487 billion in 2001, marked the end of a period of rapid annual increases that were associated with a surge in foreign acquisitions of U.S. companies. Reversing a 5-year uptrend, the affiliate share of U.S. gross domestic product (GDP) in private industries dropped from a record 6.9 percent in 2000 to 6.4 percent (table 1 and chart 1). (1) For affiliates that were majority-owned by foreign direct investors, the share decreased from 6.0 percent to 5.6 percent.

[GRAPHIC OMITTED]

In 2000, the gross product of affiliates had increased 13 percent. This increase largely reflected additions to the affiliate universe through record spending by foreign direct investors to acquire or establish U.S. companies. In 2001, foreign investment spending in the United States dropped by more than half, reflecting a slowdown in the U.S. economy and a sharp decrease in merger and acquisition activity worldwide. (2)

In combination with the falloff in new foreign investment, the decrease in affiliate gross product in 2001 can be attributed to both foreign selloffs of U.S. affiliates and reductions in ongoing affiliate production associated with a slowdown in the U.S. economy. Foreign selloffs were particularly salient in the information sector, where the gross product of affiliates decreased more than 50 percent. Reductions in ongoing operations were most pronounced for affiliates in finance and insurance and in manufacturing. In manufacturing (a sector that accounts for almost half of affiliate gross product), the reduction mirrored a drop in manufacturing production for the U.S. economy as a whole. (3)

Foreign selloffs and reduced affiliate production in 2001 also contributed to a 2-percent decrease in affiliate employment--the first decrease since 1992. As a result, the affiliate share of U.S. private-industry employment decreased from 5.7 percent to 5.6 percent. (4) Because some of the largest selloffs were of minority-owned affiliates, employment by affiliates that are majority-owned by foreign parent companies--and thus are unambiguously under their control--continued to edge up in 2001; the share of U.S. private-industry employment accounted for by majority-owned affiliates held steady at 5.0 percent. (5)

Reflecting a slowdown in economic growth both in the United States and in major trading-partner countries, affiliate exports and imports of goods both decreased in 2001, following increases in 2000. The decreases for affiliates, however, were considerably smaller than the decreases in total U.S. exports and imports of goods, so the affiliate shares of exports and imports both increased. The affiliate share of exports increased from 21.1 percent to 22.4 percent, and the affiliate share of imports increased from 30.6 percent to 32.4 percent. (6)

The following are additional highlights of the operations of U.S. affiliates in 2001.

* By country of ownership, the United Kingdom remained the largest investing country in terms of affiliate gross product, followed by Japan and Germany. As a result of selloffs in 2001, the ranking for France slipped from fourth to fifth, behind the Netherlands.

* By industry, the affiliate share of U.S. employment in the information sector dropped from 10 percent to 7 percent, largely as a result of selloffs. Within the manufacturing sector, the affiliate share decreased substantially in computer and electronic products and in electrical equipment, appliances, and components.

* By state, the affiliate share of private-industry employment was highest in Hawaii, followed by South Carolina and Connecticut. In most states, affiliate employment in manufacturing decreased in 2001; the largest reductions were in North Carolina and Pennsylvania.

* Exports of goods by German-owned affiliates decreased substantially in 2001, largely reflecting reduced exports by affiliates in the motor vehicle and machinery industries. In contrast, exports by Swiss-owned affiliates increased substantially, reflecting increased exports by affiliates in the pharmaceuticals industry.

* Imports of goods increased for wholesale trade affiliates but decreased for manufacturing affiliates. Within manufacturing, imports decreased sharply for affiliates in the computer and electronic product industry, particularly for Canadian-owned affiliates.

This article examines changes in the gross product, employment, and trade in goods of U.S. affiliates in 2001, particularly as they relate to changes in the corresponding totals for the U.S. economy. For each of these measures, changes in affiliate operations are examined both in the aggregate and by major investing country. For gross product, the changes are also examined by industry of affiliate, and for employment, the affiliate shares of the economy are examined by industry and by state. Several additional measures of U.S.-affiliate operations are presented in tables at the end of this article.

Gross Product

In 2001, the gross product (or value added) of non-bank U.S. affiliates in current dollars decreased 6 percent, marking the first decrease since at least 1977, the initial year for which annual data on affiliate operations are available. The decrease, from $517 billion to $487 billion, followed a 13-percent increase in affiliate gross product in 2000. In comparison, total U.S. GDP in private nonbank industries increased 2 percent in 2001, following an increase of 6 percent in 2000. (7) The share of U.S. GDP in private industries accounted for by U.S. affiliates dropped from a record 6.9 percent in 2000 to 6.4 percent in 2001, reversing a 5-year uptrend.

The gross product of U.S. affiliates that are majority-owned by foreign direct investors decreased 4 percent; their share of U.S. GDP in private industries decreased from 6.0 percent to 5.6 percent. The majority-owned affiliates' share of the gross product of all U.S. affiliates increased from 87 percent to 88 percent.

By country of ownership

Affiliates with ultimate beneficial owners (UBO's) in seven major investing countries--Canada, France, Germany, Japan, the Netherlands, Switzerland, and the United Kingdom--have accounted for more than three-fourths of the gross product of all nonbank affiliates since at least 1977. In 2001, as throughout 1977-2000, the largest investing country in terms of affiliate gross product was the United Kingdom; the share of affiliate gross product accounted for by British-owned affiliates was 20.6 percent (table 2 and chart 2). Japanese-owned affiliates accounted for the second-largest share of affiliate gross product (14.7 percent), and Geran-owned affiliates accounted for the third-largest share (10.3 percent). (8) Japan also ranked as the second-largest investing country in terms of affiliate gross product in 2000 and in each of the years 1991-97. In 1998 and 1999, Germany ranked as the second-largest investing country.

For each of the seven major investing countries, the gross product of affiliates decreased in 2001. In dollar terms, the decreases were particularly large for affiliates with UBO's in France, the United Kingdom, and Canada. The gross product of French-owned affiliates decreased $15 billion, or 28 percent, mainly as a result of selloffs. Because these selloffs were largely of minority-owned affiliates and because there were new French investments in majority-owned affiliates, the reduction in gross product for French majority-owned affiliates was much more modest ($1 billion). For British-owned affiliates, gross product decreased $8 billion ($10 billion for majority-owned affiliates), due to a combination of selloffs and reductions in value added for ongoing affiliate operations. In sharp contrast to previous years, there was little new direct investment activity by British companies to counter the effect of selloffs. (9) For Canadian-owned affiliates, gross product decreased $7 billion, or 16 percent, primarily as a result of cutbacks in affiliate operations associated with a severe downturn in the market for products in the computer and electronics industry. Affiliates with UBO's in Switzerland and Germany also experienced sizable reductions in gross product, partly reflecting depressed market conditions in the finance and insurance industry.

In contrast to the decreases for affiliates of the largest investing countries, the gross product of affiliates with UBO's in Bermuda increased $2 billion, or 19 percent. This increase was more than accounted for by inversions in ownership for multinational companies that previously had been headquartered in the United States or had been units of U.S.-headquartered companies. (A corporate inversion occurs when a U.S. multinational corporation forms a corporation, typically in a foreign low--or no-tax country, and simultaneously "inverts" the corporate chain of ownership, so that the new foreign corporation becomes the parent company and the U.S.-based company becomes its affiliate.) The $2 billion increase in gross product for Bermuda-owned affiliates in 2001 followed increases of $3 billion in each of the years 1998-2000. As a result of these increases, Bermuda's ranking among investing countries in terms of affiliate gross product jumped from 14th in 1997 to 8th in 2000 and 2001.

Among other investing countries, the gross product of affiliates with UBO's in Saudi Arabia increased six-fold, owing to changes in the country of owner of existing affiliates. The gross product of affiliates with UBO's in Mexico more than doubled, largely as a result of Mexican acquisitions of minority-ownership shares in U.S. retail-trade companies; the increase in the gross product of affiliates that were majority-owned by Mexican direct investors was relatively modest.

By industry of affiliate

In 2001, as in previous years, affiliates classified in manufacturing accounted for nearly half of the gross product of all nonbank affiliates (table 3). Affiliates in wholesale trade, which includes a number of large affiliates with substantial secondary operations in manufacturing, accounted for the next largest share of affiliate gross product.

In 2001, the gross product of affiliates in manufacturing decreased 4 percent, compared with the 6-percent decrease in the gross product for all nonbank affiliates. Manufacturing's share of total affiliate gross product was unchanged at 46 percent. Within manufacturing, affiliate gross product in computers and electronic products fell 24 percent. The decrease reflected both reductions in affiliate production (particularly for affiliates in the communications equipment industry) and shifts in the industry classification of affiliates that had sales in multiple industries. (10) Affiliate gross product in electrical equipment, appliances, and components fell 23 percent. The decrease was partly due to reductions in production and partly due to sell-offs. In contrast, the gross product of affiliates in the machinery industry increased 15 percent, largely reflecting changes in ownership for existing U.S. companies (including ownership changes related to corporate inversions).

Among other sectors, the gross product of affiliates in the information sector decreased by more than half, mainly as a result of foreign selloffs in the telecommunications industry. Affiliate gross product in finance and insurance fell by a fourth, reflecting major reductions in earnings from ongoing operations (particularly in investment and brokerage services). In contrast, the gross product of affiliates in professional, scientific, and technical services increased by two-thirds, largely as a result of new direct investment associated with corporate inversions. (11) In retail trade, the gross product of affiliates increased by a fourth, mainly due to new foreign investments.

Employment

In 2001, employment by U.S. affiliates of foreign companies decreased 2 percent, from 6.5 million employees to 6.4 million employees, following an increase of 8 percent in 2000 (table 4). The decrease, the first since 1992, was the result of both foreign selloffs and cutbacks in affiliate operations. Some of the largest selloffs in terms of affiliate employment were of minority-owned affiliates. Employment by majority-owned affiliates edged up in 2001, to 5.7 million employees, reflecting additions to employment from new foreign investment. The increases in affiliate employment from new investments were very modest in comparison with those in 1998-2000, which had been marked by record levels of foreign direct investment.

Reversing a 3-year uptrend, the affiliate share of U.S. private-industry employment dipped from a record 5.7 percent in 2000 to 5.6 percent in 2001. For majority-owned affiliates, the share held steady at 5.0 percent.

By industry

In 2001, as in earlier years, the affiliate share of U.S. employment at the sector level was highest in mining (16.5 percent), followed by manufacturing (13.7 percent); these two sectors also had the highest shares for majority-owned affiliates (table 5). (12) Among manufacturing industries, the affiliate share was highest in chemicals (32.0 percent), followed by nonmetallic mineral products (24.6 percent), beverages and tobacco products (20.9 percent), and transportation equipment (20.8 percent). For majority-owned affiliates, the share was also highest in chemicals and nonmetallic mineral products; however, the share in beverages and tobacco products was exceeded by the shares in transportation equipment and in electrical equipment, appliances, and components.

In manufacturing, employment by affiliates decreased 6 percent in 2001, a sharper reduction than the 3-percent decrease in manufacturing employment for all U.S. businesses. As a result, the affiliate share of employment in manufacturing decreased from 14.1 percent in 2000 to 13.7 percent in 2001, reversing an uptrend of several years. (13) About three-fourths of the reduction in affiliate employment in manufacturing was accounted for by reductions in three industries: Computers and electronic products; electrical equipment, appliances, and components; and transportation equipment. In computers and electronic products, employment by affiliates fell almost 20 percent, reflecting large-scale layoffs by affiliates with product lines in communications equipment and electronic components. As a result, the affiliate share of employment in computers and electronic products dropped from 20.2 percent in 2000 to 16.1 percent in 2001. In electrical equipment, affiliate employment decreased 16 percent, reflecting a combination of foreign selloffs and reductions in affiliate operations; the affiliate share of employment decreased from 20.7 percent to 17.8 percent. In transportation equipment, affiliate employment decreased 9 percent, mainly as a result of cutbacks by affiliates in the motor vehicle industry. Employment by U.S.-owned businesses in transportation equipment decreased at a similar pace, so there was little change in the affiliate share of employment.

Among other manufacturing industries, the affiliate share of employment increased in beverages and tobacco products; in paper; and in plastics and rubber products. In the face of employment reductions by U.S.-owned businesses, affiliate employment in these three industries was boosted through new foreign investments.

Outside of manufacturing, the affiliate share of employment in the information sector decreased from 9.6 percent in 2000 to 7.0 percent in 2001. Affiliate employment in this sector fell more than 20 percent as a result of foreign selloffs in the broadcasting and telecommunications industry, where the affiliate share of employment dropped from 9.1 percent to 4.1 percent. Most of this change was due to selloffs of foreign ownership shares in minority-owned affiliates. (For majority-owned affiliates, the share in information decreased by a smaller amount, from 6.0 percent to 5.2 percent, also due to selloffs.) The affiliate share of employment also decreased in the utilities sector, from 4.5 percent to 3.6 percent, partly because of selloffs. In 2000, the affiliate share in utilities had more than doubled as a result of several foreign acquisitions in the electric power industry.

In 2001, the affiliate share of employment increased in a number of sectors, most notably in finance and insurance; in professional, scientific, and technical services; and in mining. In finance and insurance, the increase reflected several acquisitions of U.S. companies by existing affiliates. In professional, scientific, and technical services, the increase was more than accounted for by the entry of new affiliates, including affiliates that were created as a result of inversions in company ownership. In mining, the increase reflected both new investments and expansions in existing affiliate operations, particularly in mining services performed for others under contract.

By state

Among the 50 states and the District of Columbia, the U.S.-affiliate share of private-industry employment in 2001 was highest in Hawaii (9.1 percent), followed by South Carolina (8.8 percent), Connecticut (8.3 percent), New Hampshire (8.1 percent), and Delaware (8.1 percent) (table 6). (These five states also had the highest shares for majority-owned affiliates.) Hawaii has had the highest affiliate share of employment since 1992, and South Carolina has had the second-highest share since 1995. In 2001, as in earlier years, about two-thirds of the affiliate employment in Hawaii was accounted for by Japanese-owned affiliates, whereas about three-fourths of the affiliate employment in South Carolina was accounted for by European-owned affiliates. In Connecticut, the affiliate share of employment has increased every year since 1995, when it was 5.2 percent; in 2001, the affiliate share increased from 7.8 percent to 8.3 percent, largely because of acquisitions by existing affiliates (particularly in finance and insurance) and the entry of new affiliates through corporate inversions.

Among other states, the affiliate share in Georgia (which has increased every year since 1997) reached 7.1 percent in 2001 as a result of new foreign investments. The affiliate share in North Carolina (which had increased every year since 1997) decreased from 7.8 percent in 2000 to 7.1 percent in 2001, reflecting a combination of foreign selloffs and cutbacks in ongoing affiliate operations.

In manufacturing, the affiliate shares of employment in 2001 were highest in Delaware (24.0 percent), the District of Columbia (24.0 percent), Kentucky (22.9 percent), and New Hampshire (22.5 percent) (table 7, page 49). In 2000, the District of Columbia had the largest affiliate share, followed by Delaware, New Hampshire, and Kentucky. The relatively high affiliate share in the District of Columbia partly reflects the very small amount of manufacturing employment in the District. (14) In Delaware, the District of Columbia, and New Hampshire, affiliate employment in manufacturing plants was dominated by affiliates with UBO's in Europe. In Kentucky, Japanese-owned affiliates accounted for a slightly larger share of affiliate manufacturing employment than European-owned affiliates.

In more than two-thirds of the states, the manufacturing employment of affiliates decreased in 2001. The largest reductions were in North Carolina (where manufacturing employment by affiliates dropped 21,000, or 17 percent) and Pennsylvania (where affiliate manufacturing employment decreased 15,000, or 13 percent). In North Carolina, the decrease mainly reflected large-scale cutbacks in production, particularly by affiliates in the chemical, computer and electronic product, electrical equipment, and motor vehicle industries. As a result of these cutbacks, the affiliate share of manufacturing employment in North Carolina decreased from 16.5 percent to 14.5 percent. In Pennsylvania, the decrease reflected plant closings and employment cuts that were particularly concentrated among affiliates in the computer and electronic product and the electrical equipment industries. The affiliate share of manufacturing employment in Pennsylvania decreased from 15.0 percent to 13.4 percent.

In two states--New York and Missouri--manufacturing employment by affiliates increased by more than 5,000 in 2001, mainly as a result of new foreign investments and the entry of new affiliates through corporate inversions. The affiliate share of manufacturing employment in New York increased from 12.0 percent to 13.3 percent, and the share in Missouri increased from 14.5 percent to 16.7 percent. The affiliate share of manufacturing employment also increased very substantially in a number of small states (most notably in North Dakota and Montana) as a result of foreign acquisitions.

Trade in Goods

U.S. affiliates of foreign companies have a major presence in U.S. trade in goods: In most years since 1977, they have accounted for 20-25 percent of U.S. exports of goods and for 30-35 percent of U.S. imports of goods; these shares are much higher than the affiliates' shares of either gross product or employment (table 8). The relatively high shares of trade partly reflect the concentration of foreign direct investment activity in manufacturing, a sector that has a high trade orientation. In addition, the high shares reflect the activity of wholesale trade affiliates, which have served as conduits for flows of goods between the United States and the foreign investing countries. (15) Trade in goods by U.S. affiliates has been dominated by majority-owned affiliates: In recent years, these affiliates have accounted for about 90 percent of affiliate exports and for about 95 percent of affiliate imports.

Much of the trade in goods by affiliates--about 40 percent of exports and about 75 percent of imports--is intrafirm trade (that is, trade between the affiliates and their foreign parents or other member companies of their foreign parent groups). U.S.-affiliate intrafirm trade has generally accounted for 8-12 percent of U.S. exports and for 20-28 percent of U.S. imports; almost all of this trade has been by majority-owned affiliates. (16)

In most years since the mid-1980s, imports by U.S. affiliates have exceeded their exports by 80-130 percent, a difference substantially larger than the difference for the United States as a whole. The relatively large trade deficit for affiliates can be explained by the activity of wholesale trade affiliates, many of which were established expressly to facilitate the importation of goods manufactured abroad by their foreign parents. Since 1985, wholesale trade affiliates--whose imports have been two to four times as large as their exports--have consistently accounted for more than two-thirds of the trade deficit of all U.S. affiliates. (17)

Exports

In 2001, exports of goods by U.S. affiliates dipped half a percent, to $163.6 billion, following a 7-percent increase in 2000 (table 8). This decrease mirrored a much larger reversal for goods exports by all U.S. businesses, which fell 7 percent after increasing 13 percent. Because of the relatively modest decrease for affiliates, the affiliate share of total U.S. exports of goods increased from 21.1 percent in 2000 to 22.4 percent in 2001.

For both affiliates and all U.S. businesses, exports in 2001 were restrained by a falloff in foreign demand associated with slower economic growth in several major trading-partner countries. (18) Exports by all U.S. business were particularly affected by a sharp drop in foreign demand for high-technology capital goods, a product class that has accounted for a smaller share of exports by U.S. affiliates. (19) Foreign demand decreased only slightly for chemicals and food products, product classes that have accounted for larger shares of affiliate exports. (20)

Differences by investing country in affiliate export growth in 2001 partly reflected differences in world market conditions for the products of different industries. Exports by affiliates with UBO's in the Netherlands decreased 8 percent in 2001, largely due to reduced exports by affiliates in the computer and electronic product industry (table 9). Exports by German-owned affiliates decreased 6 percent, largely reflecting a reduction in exports by affiliates with product lines in motor vehicles, machinery, electronic products, and medical equipment. Exports by Korean-owned affiliates decreased 10 percent, reflecting reduced exports by wholesale-trade affiliates specializing in electrical goods and in professional and commercial equipment. In contrast, exports by Swiss-owned affiliates jumped 20 percent, mainly as a result of increased exports by affiliates in pharmaceutical manufacturing.

Imports

Reflecting a general slowdown in the U.S. economy, imports of goods by U.S. affiliates decreased almost 1 percent in 2001, to $369.5 billion, following an increase of 15 percent in 2000. This turndown was mild compared with that for total U.S. imports of goods, which decreased 6 percent after increasing 19 percent. As a result, the affiliate share of U.S. imports of goods increased from 30.6 percent in 2000 to 32.4 percent in 2001.

The overall decrease in affiliate imports in 2001 was tempered by increases in imports by wholesale trade affiliates, particularly those in motor vehicle wholesale trade. Imports by manufacturing affiliates decreased 7 percent; this decrease was more than accounted for by a one-third reduction in imports by affiliates in computers and electronic products. (21)

Partly as a result of reduced imports by affiliates in computers and electronic products, imports by Canadian-owned affiliates decreased 22 percent in 2001. In contrast, imports by French-owned affiliates increased 13 percent, largely due to new acquisitions.

Tables 10.1 through 11.2 follow.

Data Availability

This article summarizes the preliminary estimates from the 2001 annual survey of foreign direct investment in the United States. More detailed estimates will be posted this fall in files that can be downloaded at no charge from BEA's Web site <www.bea.gov>. Revised estimates will be released next year.

Detailed estimates of U.S. affiliate operations in 1977-2000 are also available from BEA's Web site.

For more information on these products and how to order them, see the International Investment Division Product Guide on BEA's Web site at <www.bea.gov/bea/ai/iidguide.htm>.

Table 1. Gross Product of Nonbank U.S. Affiliates
of Foreign Companies, 1977-2001

                                                Percentage of U.S.
                   Millions of dollars        private-industry gross
                                                 domestic product

                              Majority-                   Majority-
                  All           owned           All         owned
                nonbank        nonbank        nonbank      nonbank
               affiliates     affiliates     affiliates   affiliates

1977               35,222           n.a.            2.3         n.a.
1978               42,920           n.a.            2.4         n.a.
1979               55,424           n.a.            2.8         n.a.
1980               70,906           n.a.            3.3         n.a.
1981               98,828           n.a.            4.2         n.a.
1982              103,489           n.a.            4.3         n.a.
1983              111,490           n.a.            4.2         n.a.
1984              128,761           n.a.            4.4         n.a.
1985              134,852           n.a.            4.3         n.a.
1986              142,120           n.a.            4.3         n.a.
1987              157,869           n.a.            4.4         n.a.
1988              190,384        146,424            4.9          3.8
1989              223,420        168,547            5.4          4.1
1990              239,279        190,477            5.5          4.4
1991              257,634        207,126            5.8          4.7
1992              266,333        214,781            5.7          4.6
1993              285,738        223,008            5.7          4.5
1994              312,981        244,690            5.9          4.6
1995              322,631        254,938            5.8          4.6
1996              358,085        283,422            6.1          4.8
1997              389,432        313,655            6.2          5.0
1998              419,828        353,860            6.3          5.3
1999              457,707        397,295            6.5          5.6
2000 (r)          516,664        447,287            6.9          6.0
2001 (p)          486,553        428,109            6.4          5.6
Percent
  charge
  from
  preceding
  year:
1989                   17.4           15.1
1990                    7.1           13.0
1991                    7.7            8.7
1992                    3.4            3.7
1993                    7.3            3.8
1994                    9.5            9.7
1995                    3.1            4.2
1996                   11.0           11.2
1997                    8.8           10.7
1998                    7.8           12.8
1999                    9.0           12.3
2000 (r)               12.9           12.6
2001 (p)               -5.8           -4.3

                    Addendum:
                Gross product of
                 majorty-owned
               nonbank affiliates
                 as a percentage
                 of that of all
               nonbank affiliates

1977                         n.a.
1978                         n.a.
1979                         n.a.
1980                         n.a.
1981                         n.a.
1982                         n.a.
1983                         n.a.
1984                         n.a.
1985                         n.a.
1986                         n.a.
1987                         n.a.
1988                         76.9
1989                         75.4
1990                         79.6
1991                         80.4
1992                         80.6
1993                         78.0
1994                         78.2
1995                         79.0
1996                         79.1
1997                         80.5
1998                         84.3
1999                         86.8
2000 (r)                     86.6
2001 (p)                     88.0
Percent
  charge
  from
  preceding
  year:
1989
1990
1991
1992
1993
1994
1995
1996
1997
1998
1999
2000 (r)
2001 (p)

(p) Preliminary.

(r) Revised.

n.a. Not available.

NOTE. For improved comparability with U.S.-affiliate gross product,
U.S. private-industry gross domestic product was adjusted to
exclude gross product originating in depository institutions and
private households, imputed rental income from owner-occupied
housing, and business transfer payments. For the latest estimates
of U.S. private-industry gross domestic product, see Robert E.
Yuskavage and Erich H. Strassner, "Gross Domestic Product by
Industry for 2002" SURVEY OF CURRENT BUSINESS 83 (May 2003):7-14.

Table 2 Gross Product of Nonbank U.SAffiliates by Country of Ultimate
Beneficial Owner, 1997-2001

                                     Millions of dollars

                                   1997      1998      1999

        All nonbank affiliates:

      All countries               389,432   419,828   457,707
Canada                             34,732    39,853    42,673
Europe                            248,970   268,466   298,861
    France                         36,182    37,443    44,779
    Germany                        46,330    66,852    70,614
    Netherlands                    34,740    29,165    35,651
    Sweden                          8,504     8,811    10,680
    Switzerland                    26,331    28,207    31,620
    United Kingdom                 78,289    75,310    83,309
    Other                          18,595    22,678    22,208
Latin America and Other
  Western Hemisphere               13,682    17,346    20,426
    Bermuda                         3,239     5,809     8,604
    Mexico                          1,418     1,644     1,739
    Venezuela                       5,258     5,275     4,985
    Other                           3,767     4,618     5,098
Africa                              2,870     2,912     1,249
Middle East                         7,481     4,628     2,946
    Saudi Arabia                    4,189     2,319     1,186
    Other                           3,292     2.309     1,760
Asia and Pacific                   74,541    79,039    81,469
    Australia                       5,488     6,835     8,726
    Japan                          63,017    65,034    65,127
    Other                           6,036     7,170     7,616
United States                       7,156     7,585    10,082

Majority-owned nonbank affiliates:

      All countries               313,655   353,860   397,295
Canada                             29,779    34,174    36,400
Europe                            199,458   228,775   261,473
    France                         24,356    25,268    31,790
    Germany                        36,914    57,975    61,569
    Netherlands                    27,797    26,094    31,482
    Sweden                          6,443     8,680    10,559
    Switzerland                    22,268    22,798    25,996
    United Kingdom                 66,112    70,602    80,391
    Other                          15,570    17,358    19,685
Latin America and Other
  Western Hemisphere               12,126    15,732    19,120
    Bermuda                         3,166       (D)     8,566
    Mexico                          1,229     1,488     1,447
    Venezuela                         (D)       (D)       (D)
    Other                             (D)       (D)       (D)
Africa                                (D)       (D)     1,211
Middle East                         2,619     2,460     2,131
    Saudi Arabia                      600       346       500
    Other                           2,019     2,114     1,631
Asia and Pacific                   65,069    68,005    71,836
    Australia                       4,668     5,642     7,216
    Japan                          55,280    56,291    57,622
    Other                           9,789    11,714    14,214
United States                         (D)       (D)     5,124

                                   Millions     Percentage of all-
                                  of dollars     countries total

                                    2000          2001      1997
        All nonbank affiliates:
      All countries                516,664      486,553     100.0
Canada                              41,196       34,648       8.9
Europe                             344,720      308,241      63.9
    France                          55,413       39,975       9.3
    Germany                         55,257       50,180      11.9
    Netherlands                     47,728       44,685       8.9
    Sweden                          11,052       10,494       2.2
    Switzerland                     41,951       36,080       6.8
    United Kingdom                 108,337      100,338      20.1
    Other                           24,983       26,489       4.8
Latin America and Other
  Western Hemisphere                26,213       33,724       3.5
    Bermuda                         11,799       14,079       0.8
    Mexico                           2,937        6,303       0.4
    Venezuela                        6,111        6,445       1.4
    Other                            5,365        6,897       1.0
Africa                               1,090        1,126       0.7
Middle East                          3,116        8,819       1.9
    Saudi Arabia                       911        6,782       1.1
    Other                            2,205        2,037       0.8
Asia and Pacific                    88,863       87,368      19.1
    Australia                        7,513        8,251       1.4
    Japan                           73,289       71,663      16.2
    Other                            8,061        7,454       1.5
United States                       11,465       12,627       1.8

Majorlty-owned nonbank affiliates:

      All countries                447,287      428,109     100.0
Canada                              36,928       30,843       9.5
Europe                             299,251      275,753      63.6
    France                          38,763       37,376       7.8
    Germany                         51,524       46,985      11.8
    Netherlands                     43,745       40,309       8.9
    Sweden                          10,678       10,133
    Switzerland                     35,225       30,374       7.1
    United Kingdom                  98,282       87,941      21.1
    Other                           21,034       22,635       5.0
Latin America and Other
  Western Hemisphere                25,036       29,631       3.9
    Bermuda                         11,697       14.008       1.0
    Mexico                           2,746        3,270       0.3
    Venezuela                          (D)          (D)       (D)
    Other                              (D)          (D)       (D)
Africa                               1,051          (D)       (D)
Middle East                          2,402        8,298       0.8
    Saudi Arabia                       328        6,270       0.2
    Other                            2,074        2,028       0.6
Asia and Pacific                    77,594       76,499      20.7
    Australia                        6,109        7,171       1.5
    Japan                           63,622       62,983      17.6
    Other                            7,863        6,345       3.1
United States                        5,024          (D)       (D)

                                  Percentage of all-countries total

                                       1998      1999      2000

        All nonbank affiliates:
      All countries                   100.0     100.0     100.0
Canada                                  9.5       9.3       8.0
Europe                                 63.9      65.3      66.7
    France                              8.9       9.8      10.7
    Germany                            15.9      15.4      10.7
    Netherlands                         6.9       7.8       9.2
    Sweden                              2.1       2.3       2.1
    Switzerland                         6.7       6.9       8.1
    United Kingdom                     17.9      18.2      21.0
    Other                               5.4       4.9       4.8
Latin America and Other
  Western Hemisphere                    4.1       4.5       5.1
    Bermuda                             1.4       1.9       2.3
    Mexico                              0.4       0.4       0.6
    Venezuela                           1.3       1.1       1.2
    Other                               1.1       1.1       1.0
Africa                                  0.7       0.3       0.2
Middle East                             1.1       0.6       0.6
    Saudi Arabia                        0.6       0.3       0.2
    Other                               0.5       0.4       0.4
Asia and Pacific                       18.8      17.8      17.2
    Australia                           1.6       1.9       1.5
    Japan                              15.5      14.2      14.2
    Other                               1.7       1.7       1.6
United States                           1.8       2.2       2.2

Majorlty-owned nonbank affiliates:

      All countries                   100.0     100.0     100.0
Canada                                  9.7       9.2       8.3
Europe                                 64.7      65.8      66.9
    France                              7.1       8.0       8.7
    Germany                            16.4      15.5      11.5
    Netherlands                         7.4       7.9       9.8
    Sweden
    Switzerland                         6.4       6.5       7.9
    United Kingdom                     20.0      20.2      22.0
    Other                               4.9       5.0       4.7
Latin America and Other
  Western Hemisphere                    4.4       4.8       5.6
    Bermuda                             (D)       2.2       2.6
    Mexico                              0.4       0.3       0.6
    Venezuela                           (D)       (D)       (D)
    Other                               (D)       (D)       (D)
Africa                                  (D)       0.3       0.2
Middle East                             0.7       0.5       0.5
    Saudi Arabia                        0.1       0.1       0.1
    Other                               0.6       0.4       0.5
Asia and Pacific                       19.2      18.1      17.3
    Australia                           1.6       1.8       1.4
    Japan                              15.9      14.5      14.2
    Other                               3.3       3.6       1.8
United States                          (D)        1.3       1.1

                                                      Addendum:
                                                       Percent
                                  Percentage of        change
                                  all-countries      inaffiliate
                                     total              gross
                                                       product,
                                     2001             2000-2001

        All nonbank affiliates:
      All countries                 100.0                -5.8
Canada                                7.1               -15.9
Europe                               63.4               -10.6
    France                            8.2               -27.9
    Germany                          10.3                -9.2
    Netherlands                       9.2                -6.4
    Sweden                            2.2                -5
    Switzerland                       7.4                -14
    United Kingdom                   20.6                -7.4
    Other                             5.4                 6.0
Latin America and Other
1  Western Hemisphere                 6.9                28.7
    Bermuda                           2.9                19.3
    Mexico                            1.3               114.6
    Venezuela                         1.3                 5.5
    Other                             1.4                28.5
Africa                                0.2                 3.3
Middle East                           1.8               183.0
    Saudi Arabia                      1.4               644.8
    Other                             0.4                -7.7
Asia and Pacific                     18.0                -1.7
    Australia                         1.7                 9.8
    Japan                            14.7                -2.2
    Other                             1.5                -7.5
United States                         2.6                10.1

Majorlty-owned nonbank affiliates:

      All countries                 100.0                -4.3
Canada                                7.2               -16.5
Europe                               64.4                -7.9
    France                            8.7                -3.6
    Germany                          11.0                -8.8
    Netherlands                       9.4                -7.9
    Sweden                                               -5.1
    Switzerland                       7.1               -13.8
    United Kingdom                   20.5               -10.5
    Other                             5.3                 7.6
Latin America and Other
  Western Hemisphere                  6.9                18.4
    Bermuda                           3.3                19.8
    Mexico                            0.8                19.1
    Venezuela                         (D)                 (D)
    Other                             (D)                 (D)
Africa                                (D)                 (D)
Middle East                           1.9               245.4
    Saudi Arabia                      1.5              1812.2
    Other                             0.5                -2.2
Asia and Pacific                     17.9                -1.4
    Australia                         1.7                17.4
    Japan                            14.7                -1.0
    Other                             1.5               -19.3
United States                         (D)                 (D)

(D) Suppressed to avoid disclosure of data of individual companies.

Table 3. Gross Product of Nonbank U.S. Affiliates by Industry of
Affiliate, 1997-2001

                                               Millions of dollars

                                           1997       1998       1999

          All nonbank affiliates:
        All industries                   389,432    419,828    457,707
Manufacturing                            190,635    224,850    238,590
    Food                                  11,092     11,048     10,465
    Petroleum and coal products           23,476     24,819     26,199
    Chemicals                             41,199     42,576     41,853
    Plastics and rubber products           7,772      9,170     10,159
    Nonmetallic mineral products          12,005     11,852     13,429
    Primary metals                         8,526     10,075      7,770
    Fabricated metal products              8,275      6,989      7,523
    Machinery                             13,856     14,277     14,241
    Computers and electronic
      products                            18,177     19,862     24,298
    Electrical equipment,
      appliances, and components           9,534      9,958     10,515
    Transportation equipment              14,694     37,147     44,030
    Other                                 22,029     27,075     28,108
Wholesale trade                           49,375     51,781     57,842
Retail trade                              24,960     26,990     28,346
Information                               27,838     23,147     28,129
Finance (except depository
  institutions) and insurance             27,820     23,780     26,068
Real estate and rental and leasing         8,987      9,765     11,813
Professional, scientific, and
  technical services                       6,347      7,961      7,364
Other industries                          53,469     51,555     59,556

Majorityowned nonbank affiliates:
        All industries                   313,655    353,860    397,295
Manufacturing                            169,279    201,116    219,141
    Food                                   9,929      9.947     10,095
    Petroleum and coal products              (D)     21,637        (D)
    Chemicals                             38,050     39,022     37,698
    Plastics and rubber products           7,136      8,506      9,326
    Nonmetallic mineral products          11,472     11,265     12,805
    Primary metals                         5,155      6,541      6,214
    Fabricated metal products              6,506      6,333      6,561
    Machinery                             12,778     13,342     13,803
    Computers and electronic
      product                             17,425     17,826     23,095
    Electrical equipment,
      appliances, and components           9,020        (D)     10,011
    Transportation equipment              12,970     34,982     41,227
    Other                                    (D)        (D)        (D)
Wholesale trade                           44,489     47,877     55,536
Retail trade                              15,901     17,990     19,938
Information                               11,483     13,767     18,841
Finance (except depository
  institutions) and insurance             23,550     19,808     21,029
Real estate and rental and leasing         7,027      7,604      9,302
Professional, scientific, and
  technical services                       5,619      6,743      7,526
Other industries                          36,307     38,955     45,983

                                         Millions of dollars

                                          2000       2001

          All nonbank affiliates:
        All industries                   516,664    486,553
Manufacturing                            235,620    225,483
    Food                                  11.136     11,362
    Petroleum and coal products           14,387     14,870
    Chemicals                             44,987     44,412
    Plastics and rubber products          10,011     10,655
    Nonmetallic mineral products          15,605     15,643
    Primary metals                        10,023      9,869
    Fabricated metal products              7,873      7,145
    Machinery                             18,480     21,325
    Computers and electronic
      products                            28,394     21,566
    Electrical equipment,
      appliances, and components          16,501     12,777
    Transportation equipment              32,994     32,166
    Other                                 25,230     23,692
Wholesale trade                           85,016     85,241
Retail trade                              24,269     30,131
Information                               39,094     18,372
Finance (except depository
  institutions) and insurance             44,005     33,264
Real estate and rental and leasing        10,895     11,255
Professional, scientific, and
  technical services                       9,224     15,178
Other industries                          68,542     67,628

Majorityowned nonbank affiliates:
        All industries                   447,287    428,109
Manufacturing                            215,684    204,508
    Food                                  10,710     10.762
    Petroleum and coal products              (D)        (D)
    Chemicals                             41,016     40,640
    Plastics and rubber products           8,727      9,639
    Nonmetallic mineral products          14,952      15130
    Primary metals                         8,299      8,504
    Fabricated metal products              7,279      6,663
    Machinery                             18,382     21,275
    Computers and electronic
      product                             26,936     18,455
    Electrical equipment,
      appliances, and components          16,359     12,689
    Transportation equipment              30,358     29,685
    Other                                    (D)        (D)
Wholesale trade                           81,413     81,839
Retail trade                              22,308     25,311
Information                               19,427      8,444
Finance (except depository
  institutions) and insurance             34,730     24,139
Real estate and rental and leasing         9,323      9,652
Professional, scientific, and
  technical services                       8,553     14,500
Other industries                          55,848     59,716

                                         Percentage of all-industrial
                                                      total

                                           1997      1998      1999

          All nonbank affiliates:
        All industries                    100.0     100.0     100.0
Manufacturing                              49.0      53.6      52.1
    Food                                    2.8       2.6       2.3
    Petroleum and coal products             6.0       5.9       5.7
    Chemicals                              10.6      10.1       9.1
    Plastics and rubber products            2.0       2.2       2.2
    Nonmetallic mineral products            3.1       2.8       2.9
    Primary metals                          2.2       2.4       1.7
    Fabricated metal products               2.1       1.7       1.6
    Machinery                               3.6       3.4       3.1
    Computers and electronic
      products                              4.7       4.7       5.3
    Electrical equipment,
      appliances, and components            2.4       2.4       2.3
    Transportation equipment                3.8       8.8       9.6
    Other                                   5.7       6.4       6.1
Wholesale trade                            12.7      12.3      12.6
Retail trade                                6.4       6.4       6.2
Information                                 7.1       5.5       6.1
Finance (except depository
  institutions) and insurance               7.1       5.7       5.7
Real estate and rental and leasing          2.3       2.3       2.6
Professional, scientific, and
  technical services                        1.6       1.9       1.6
Other industries                           13.7      12.3      13.0

Majorityowned nonbank affiliates:
        All industries                    100.0     100.0     100.0
Manufacturing                              54.0      56.8      55.2
    Food                                    3.2       2.8       2.5
    Petroleum and coal products             (D)       6.1       (D)
    Chemicals                              12.1      11.0       9.5
    Plastics and rubber products            2.3       2.4       2.3
    Nonmetallic mineral products            3.7       3.2       3.2
    Primary metals                          1.6       1.8       1.6
    Fabricated metal products               2.1       1.8       1.7
    Machinery                               4.1       3.8       3.5
    Computers and electronic
      product                               5.6       5.0       5.8
    Electrical equipment,
      appliances, and components            2.8       (D)       2.5
    Transportation equipment                4.1       9.9      10.4
    Other                                   (D)       (D)       (D)
Wholesale trade                            14.2      13.5      14.0
Retail trade                                5.1       5.1       5.0
Information                                 3.7       3.9       4.7
Finance (except depository
  institutions) and insurance               7.5       5.6       5.3
Real estate and rental and leasing          2.2       2.1       2.3
Professional, scientific, and
  technical services                        1.8       1.9       1.9
Other industries                           11.6      11.0      11.6

                                                             Addendum:
                                            Percentage of     Percent
                                           all-industries    change in
                                                total        affiliate
                                                               gross
                                           2000      2001    product,
                                                             2000-2001

          All nonbank affiliates:
        All industries                    100.0     100.0         -5.8
Manufacturing                              45.6      46.3         -4.3
    Food                                    2.2       2.3          2.0
    Petroleum and coal products             2.8       3.1          3.4
    Chemicals                               8.7       9.1         -1.3
    Plastics and rubber products            1.9       2.2          6.4
    Nonmetallic mineral products            3.0       3.2          0.2
    Primary metals                          1.9       2.0         -1.5
    Fabricated metal products               1.5       1.5         -9.2
    Machinery                               3.6       4.4         15.4
    Computers and electronic
      products                              5.5       4.4        -24.0
    Electrical equipment,
      appliances, and components            3.2       2.6        -22.6
    Transportation equipment                6.4       6.6         -2.5
    Other                                   4.9       4.9         -6.1
Wholesale trade                            16.5      17.5          0.3
Retail trade                                4.7       6.2         24.2
Information                                 7.6       3.8        -53.0
Finance (except depository
  institutions) and insurance               8.5       6.8        -24.4
Real estate and rental and leasing          2.1       2.3          3.3
Professional, scientific, and
  technical services                        1.8       3.1         64.5
Other industries                           13.3      13.9         -1.3

Majorityowned nonbank affiliates:
        All industries                    100.0     100.0         -4.3
Manufacturing                              48.2      47.8         -5.2
    Food                                    2.4       2.5          0.5
    Petroleum and coal products             (D)       (D)          (D)
    Chemicals                               9.2       9.5         -0.9
    Plastics and rubber products            2.0       2.3         10.4
    Nonmetallic mineral products            3.3       3.5          1.2
    Primary metals                          1.9       2.0          2.5
    Fabricated metal products               1.6       1.6         -8.5
    Machinery                               4.1       5.0         15.7
    Computers and electronic
      product                               6.0       4.3        -31.5
    Electrical equipment,
      appliances, and components            3.7       3.0        -22.4
    Transportation equipment                6.8       6.9         -2.2
    Other                                   (D)       (D)          (D)
Wholesale trade                            18.2      19.1          0.5
Retail trade                                5.0       5.9         13.5
Information                                 4.3       2.0        -56.5
Finance (except depository
  institutions) and insurance               7.8       5.6        -30.5
Real estate and rental and leasing          2.1       2.3          3.5
Professional, scientific, and
  technical services                        1.9       3.4         69.5
Other industries                           12.5      13.9          6.9

(D) Suppressed to avoid disclosure of data of individual companies.

Table 4. Employment of Nonbank U.S. Affiliates of Foreign
Companies, 1977-2001

                                                             Addendum:
                                                            Employment
                                                                of
                                       Percentage of U.S.    majority-
                    Thousands of        private-industry      owned
                     employees             employment        nonbank
                                                            affiliates
                           Majority             Majority-    as a per-
                   All      owned       All       owned     centage of
                 nonbank   nonbank    nonbank    nonbank    that of all
                  affi-     affi-      affi-      affi-       nonbank
                 liates     liates    liates     liates     affiliates

1977             1,218.7       n.a.       1.7        n.a.          n.a.
1978             1,429.9       n.a.       1.9        n.a.          n.a.
1979             1,753.2       n.a.       2.3        n.a.          n.a.
1980             2,033.9       n.a.       2.7        n.a.          n.a.
1981             2,416.6       n.a.       3.1        n.a.          n.a.
1982             2,448.1       n.a.       3.2        n.a.          n.a.
1983             2,546.5       n.a.       3.3        n.a.          n.a.
1984             2,714.3       n.a.       3.4        n.a.          n.a.
1985             2,862.2       n.a.       3.4        n.a.          n.a.
1986             2,937.9       n.a.       3.5        n.a.          n.a.
1987             3,224.3    2,602.7       3.7         3.0          80.7
1988             3,844.2    3,119.0       4.3         3.5          81.1
1989             4,511.5    3,573.4       4.9         3.9          79.2
1990             4,734.5    3,841.7       5.1         4.2          81.1
1991             4,871.9    3,991.3       5.3         4.4          81.9
1992             4,715.4    3,903.9       5.1         4.3          82.8
1993             4,765.6    3,851.7       5.0         4.1          80.8
1994             4,840.5    3,954.0       4.9         4.1          81.7
1995             4,941.8    4,022.6       4.9         4.0          81.4
1996             5,105.0    4,155.6       5.0         4.1          81.4
1997             5,201.9    4,269.1       4.9         4.0          82.1
1998             5,646.1    4,669.5       5.2         4.3          82.7
1999             6,027.6    5,064.3       5.4         4.5          84.0
2000 (r)         6,524.6    5,656.5       5.7         5.0          86.7
2001 (p)         6,371.9    5,671.5       5.6         5.0          89.0
Percent change
  from prece-
  ding year:
1988                19.2       19.8
1989                17.4       14.6
1990                 4.9        7.5
1991                 2.9        3.9
1992                -3.2       -2.2
1993                 1.1       -1.3
1994                 1.6        2.7
1995                 2.1        1.7
1996                 3.3        3.3
1997                 1.9        2.7
1998                 8.5        9.4
1999                 6.8        8.5
2000 (r)             8.2       11.7
2001 (p)            -2.3        0.3

(p) Preliminary.

(r) Revised.

n.a. Not availabe.

NOTES. For improved comparability with U.S.-affiliate employment,
U.S. private-industry employment was adjusted to exclude employment
in depository institutions and private households.

For consistency with the coverage of the data on U.S. private-industry
employment, U.S. affiliate employment in Puerto Rico, in "other U.S.
areas," and in "foreign" was excluded from the U.S. affiliate total
when the employment shares were computed.

Table 5 Employment by Nonbank U.S Affiliates by Industry of Sales,
1999-2001

                                           Thousands of employees

                                           All nonbank affiliates

                                            1999      2000      2001

        All industries (2)                 6,027.6   6,524.6   6,371.9
Agriculture, forestry, fishing, and
  hunting                                     27.4      17.5      16.8
Mining, excluding oil and gas extraction      58.5      60.2      65.8
Utilities                                     11.4      29.2      23.7
Construction                                  78.6      80.2      93.4
Manufacturing (3)                          2,269.4   2,340.2   2,198.3
  Food                                       127.6     149.6     140.6
  Beverages and tobacco products              30.1      33.3      35.6
  Textile mills                               25.0      22.2      18.0
  Textile product mills                       15.6      10.2       7.9
  Apparel                                     30.0      25.7      18.6
  Leather and allied products                  1.8       1.6       1.4
  Wood products                               15.6      21.0      21.1
  Paper                                       80.9      76.0      77.7
  Printing and related support
    activities                                51.0      58.7      59.1
  Petroleum and coal products (4)             35.5      31.0      29.3
  Chemicals                                  294.5     281.1     278.0
  Plastics and rubber products               141.6     150.2     151.3
  Nonmetallic mineral products               119.7     129.6     129.1
  Primary metals                              97.9      94.2      91.2
  Fabricated metal products                  107.6     114.1     121.4
  Machinery                                  211.4     211.7     196.1
  Computer and electronic products           280.6     314.0     256.3
  Electrical equipment, appliances, and
    components                               131.9     122.2     102.5
  Transportation equipment                   379.6     395.4     363.9
    Motor vehicles, bodies and trailers,
      and parts                              336.7     343.2     311.6
    Other                                     42.9      52.2      52.3
  Furniture and related products              15.5      15.3      15.0
  Miscellaneous manufacturing                 76.2      83.3      84.3
Wholesale trade                              403.2     464.7     477.5
Retail trade                                 767.9     701.3     799.6
Transportation and warehousing               181.1     227.1     237.8
Information                                  309.6     339.9     264.4
  Publishing industries                      101.6     101.6      92.9
  Motion picture and sound recording
    industries                                34.0      33.8      33.3
  Broadcasting and telecommunications        131.3     148.5      72.8
  Information services and data
    processing  services                      42.7      56.0      65.5
Finance (except depository institutions)
  and insurance                              260.8     302.1     333.1
  Finance, except depository institutions    104.2     145.5     163.8
  Insurance carriers and related
    activities                               156.5     156.6     169.3
Real estate and rental and leasing            72.1      53.6      49.3
Professional, scientific, and technical
  services (5)                               154.9     215.6     255.6
Management of nonbank companies and
  enterprises                                  2.0       2.1       2.5
Administration, support, waste
  management, and remadiation services       491.9     666.2     603.8
Educational services                           9.3       9.1       6.5
Health care and social assistance (5)        100.4     118.6     106.5
Arts, entertainment, and recreation (5)       48.9      45.1      38.4
Accommodation and food services              398.2     418.9     370.1
Other services (except public admini-
  stration and private households (5)         52.1     113.7      89.9
Auxiliaries, except management of
  companies and enterprises                  308.2     332.5     347.0
Unspecified (6)                               21.9      41.0      36.8

                                               Thousands of employees

                                               Majority-owned nonbank
                                                   affiliates

                                             1999      2000      2001

        All industries (2)                 5,064.3   5,656.5   5,671.5
Agriculture, forestry, fishing, and
  hunting                                     13.7      12.7      12.3
Mining, excluding oil and gas extraction      52.5      54.4      61.6
Utilities                                      6.9      24.8      19.6
Construction                                  67.5      69.6      83.5
Manufacturing (3)                          2,059.6   2,139.1   2,008.5
  Food                                       122.1     137.8     126.7
  Beverages and tobacco products                 J         J         K
  Textile mills                               22.3      18.4      16.4
  Textile product mills                       10.4       6.8       6.1
  Apparel                                     22.6      19.4      13.6
  Leather and allied products                  1.4       1.2       1.1
  Wood products                               11.4      19.7      19.7
  Paper                                          K         K         K
  Printing and related support activities     48.3        L       55.6
  Petroleum and coal products (4)             29.2      25.2      23.5
  Chemicals                                  269.7     261.2     257.7
  Plastics and rubber products               126.1     132.9     136.8
  Nonmetallic mineral products               115.6     125.6     125.5
  Primary metals                              83.1      85.2      82.2
  Fabricated metal products                   99.8     108.7     116.2
  Machinery                                  199.3     204.4     189.6
  Computer and electronic products           262.0     286.9     228.7
  Electrical equipment, appliances, and
    components                               126.0     118.2      99.6
  Transportation equipment                   352.5     369.0     340.4
    Motor vehicles, bodies and trailers,
      and parts                              315.1     322.8     293.0
    Other                                     37.4      46.1      47.5
  Furniture and related products              15.3      15.1      14.8
  Miscellaneous manufacturing                 72.8      80.7      81.1
Wholesale trade                              363.3     407.0     440.2
Retail trade                                 589.4     641.8     654.6
Transportation and warehousing               169.1     213.7     227.4
Information                                  205.8     212.6     195.5
  Publishing industries                       87.8      85.3      83.0
  Motion picture and sound recording
    industries                                33.4         K         K
  Broadcasting and telecommunications         46.8         K         K
  Information services and data
    processing services                       37.8      48.5      51.6
Finance (except depository institutions)
  and insurance                              225.2     257.2     279.3
  Finance, except depository institutions     91.6         M         M
  Insurance carriers and related
    activities                               133.6         M         M
Real estate and rental and leasing            49.3      50.8      40.7
Professional, scientific, and technical
  services (5)                               147.6     199.0     234.6
Management of nonbank companies and
  enterprises                                  1.8       2.0       2.3
Administration, support, waste
  management, and remadiation services       403.8     590.0     537.5
Educational services                           6.4         I         I
Health care and social assistance (5)         71.9         L         L
Arts, entertainment, and recreation (5)       37.4      36.2      35.2
Accommodation and food services              255.1         M     356.0
Other services (except public admini-
  stration and private households (5)         45.2         K         K
Auxiliaries, except management of
  companies and enterprises                  271.0     289.3     313.1
Unspecified (6)                               21.8      40.9      36.6

                                              Percentage of total U.S
                                               employment in nonbank
                                               private industries (1)

                                               All nonbank affiliates

                                             1999      2000       2001

        All industries (2)                     5.4       5.7       5.6
Agriculture, forestry, fishing, and
  hunting                                     n.a.      n.a.      n.a.
Mining, excluding oil and gas extraction      15.9      16.1      16.5
Utilities                                      1.7       4.5       3.6
Construction                                   1.3       1.2       1.4
Manufacturing (3)                             13.5      14.1      13.7
  Food                                         8.7      10.2       9.6
  Beverages and tobacco products              17.5      19.7      20.9
  Textile mills                                6.9       6.5       5.8
  Textile product mills                        7.0       4.7       3.9
  Apparel                                      5.2       5.0       4.2
  Leather and allied products                  2.4       2.3       2.3
  Wood products                                2.6       3.5       3.8
  Paper                                       14.5      13.7      14.6
  Printing and related support activities      6.1       7.2       7.5
  Petroleum and coal products (4)             17.8      16.1      15.3
  Chemicals                                   33.2      31.7      32.0
  Plastics and rubber products                13.5      14.2      15.1
  Nonmetallic mineral products                23.5      24.8      24.6
  Primary metals                              16.4      15.7      15.9
  Fabricated metal products                    6.0       6.4       6.9
  Machinery                                   15.1      15.4      14.7
  Computer and electronic products            17.4      20.2      16.1
  Electrical equipment, appliances, and
    components                                22.5      20.7      17.8
  Transportation equipment                    19.9      21.1      20.8
    Motor vehicles, bodies and trailers,
      and parts                               28.8      28.6      28.6
    Other                                      5.8       7.7       7.9
  Furniture and related products               2.5       2.4       2.4
  Miscellaneous manufacturing                 10.4      11.4      11.8
Wholesale trade                                6.8       7.6       7.8
Retail trade                                   5.3       4.7       5.4
Transportation and warehousing                 5.0       6.0       6.3
Information                                    9.6       9.6       7.0
  Publishing industries                       10.1       9.4       8.4
  Motion picture and sound recording
    industries                                11.6      11.1      11.2
  Broadcasting and telecommunications          8.7       9.1       4.1
  Information services and data
    processing services                        9.9      10.6      11.3
Finance (except depository institutions)
  and insurance                                6.5       7.5       8.0
  Finance, except depository institutions      6.3       8.5       8.9
  Insurance carriers and related
    activities                                 6.7       6.8       7.3
Real estate and rental and leasing             3.8       2.8       2.4
Professional, scientific, and technical
  services (5)                                 2.5       3.3       3.7
Management of nonbank companies and
  enterprises                                 n.a.      n.a.      n.a.
Administration, support, waste
  management, and remadiation services         5.9       7.3       6.7
Educational services                          n.a.      n.a.      n.a.
Health care and social assistance (5)          1.6       1.8       1.6
Arts, entertainment, and recreation (5)        3.9       3.4       2.8
Accommodation and food services                4.1       4.2       3.7
Other services (except public admini-
  stration and private households (5)         n.a.      n.a.      n.a.
Auxiliaries, except management of
  companies and enterprises                   n.a.      n.a.      n.a.
Unspecified (6)

                                              Percentage of total U.S
                                               employment in nonbank
                                               private industries (1)

                                              Majority-owned nonbank
                                                     affiliates

                                              1999      2000      2001

        All industries (2)                     4.5       5.0       5.0
Agriculture, forestry, fishing, and           n.a.      n.a.      n.a.
  hunting
Mining, excluding oil and gas extraction      14.3      14.6      15.5
Utilities                                      1.0       3.6       3.0
Construction                                   1.1       1.1       1.3
Manufacturing (3)                             12.3      12.9      12.5
  Food                                         8.3       9.4       8.6
  Beverages and tobacco products               (D)       (D)       (D)
  Textile mills                                6.2       5.4       5.3
  Textile product mills                        4.7       3.2       3.0
  Apparel                                      3.9       3.8       3.1
  Leather and allied products                  1.8       1.8       1.7
  Wood products                                1.9       3.3       3.5
  Paper                                        (D)       (D)       (D)
  Printing and related support activities      5.8       (D)       7.1
  Petroleum and coal products (4)             14.7      13.1      12.3
  Chemicals                                   30.4      29.5      29.6
  Plastics and rubber products                12.0      12.6      13.6
  Nonmetallic mineral products                22.6      24.0      23.9
  Primary metals                              13.9      14.2      14.4
  Fabricated metal products                    5.6       6.1       6.6
  Machinery                                   14.3      14.8      14.2
  Computer and electronic products            16.2      18.4      14.4
  Electrical equipment, appliances, and
    components                                21.5      20.1      17.3
  Transportation equipment                    18.5      19.7      19.4
    Motor vehicles, bodies and trailers,
      and parts                               26.9      26.9      26.9
    Other                                      5.1       6.8       7.1
  Furniture and related products               2.5       2.4       2.4
  Miscellaneous manufacturing                  9.9      11.0      11.4
Wholesale trade                                6.1       6.7       7.2
Retail trade                                   4.1       4.3       4.4
Transportation and warehousing                 4.7       5.6       6.1
Information                                    6.4       6.0       5.2
  Publishing industries                        8.7       7.9       7.5
  Motion picture and sound recording
    industries                                11.4       (D)       (D)
  Broadcasting and telecommunications          3.1       (D)       (D)
  Information services and data
    processing  services                       8.8       9.2       8.9
Finance (except depository institutions)
  and insurance                                5.6       6.4       6.7
  Finance, except depository institutions      5.5       (D)       (D)
  Insurance carriers and related
    activities                                 5.7       (D)       (D)
Real estate and rental and leasing             2.6       2.6       2.0
Professional, scientific, and technical
  services (5)                                 2.4       3.0       3.4
Management of nonbank companies and
  enterprises                                 n.a.      n.a.      n.a.
Administration, support, waste
  management, and remadiation services         4.8       6.5       5.9
Educational services                          n.a.      n.a.      n.a.
Health care and social assistance (5)          1.1       (D)       (D)
Arts, entertainment, and recreation (5)        3.0       2.7       2.6
Accommodation and food services                2.6       (D)       3.6
Other services (except public admini-
  stration and private households (5)         n.a.      n.a.      n.a.
Auxiliaries, except management of
  companies and enterprises                   n.a.      n.a.      n.a.
Unspecified (6)

(D) Suppressed to avoid disclosure of data of individual companies.

n.a. Data required to compute shares are not available.

(1) The data on U.S. employment in private industries that were used in
calculating these percenteges ere classified by industry of
establishment. For "all industries," they are from table 6.4C
("Full-Time and Part-Time Employees by Industry") of the "Nationnal
Income and Product Accounts (NIPA) Tables" in the August 2002 issue
of the SURVEY OF CURRENT BUSINESS. For industries at the sectoral level
or below, the data are from the Census Bureau's County Business
Patterns. For "all industries," the total for U.S. employment in
nonbank private industries is equal to employment in private industries
less the employment of dapository institutions and private households.
The U.S. private-industry employment totals used to calculate the
affiliate shares in  "all industries" in this table differ from the
U.S. employment totals used to calculate affiliate shares in table 6,
the latter are from BEA's Regional Economic Information System. The
estimates in table 6, unlike those used for this table, do not exclude
employment in depository institutions. In addition, the estimates used
for table 6, unlike those used for this table exclude U.S. residents
temporarily employed abroad by U.S. businesses. They may also differ
from NIPA estimates used for "all industries" in this table because
of different definitions and revision schedules.

(2.) For consistercy with the coverage of the data on U.S. employment
in private industries, U.S.-affiliate employment in Puerto Rico, in
"other US. areas," and in "foreign" was excluded from the
U.S.-affiliate employment total when the percentage shares on this
line were computed.

(3.) Total affiliate manufacturing employment and the shares of
all-U.S.-business manufacturing employment accounted for affiliates
shown in this table differ from those shown in table 7. In this table,
employment is classified by industry of sales, and the total for
manufacturing includes some nonmanufacturing employees (see the box
"Using Employment Data to Estimate Affiliate Shares of the U.S.
Economy by Industry"), whereas in table 7 affiliate manufacturing
employment consists only of employees on the payrolls of manufacturing
plants. Data on the latter basis are not available for the industries
within manufacturing shown in this table. In addition, the total for
manufacturing in this table includes oil and gas extraction, which
is excluded from the total in table 7.

(4.) For both U.S. affiliates and all U.S. businesses, includes oil
and gas extraction. (See note below.)

(5.) The data on U.S. employment used to calculate the percentages
shown on this line cover taxable establishments only. For this
industry, employment in taxable establishments was estimated by
applying the ratio of employment in taxable establishments to total
employment in the industry from the Census Bureau's 1997 Economic
Census data to the employment data from County Business Patterns.

(6.) This line includes all employment that U.S. affiliates did not
specify in terms of industry of sales when they filled  out their
survey forms. Affiliates that filed the long form (that is, affiliates
with assets, sales, or net income or loss greater than $100 million)
had to specify only their 10 largest sales categories, and affiliates
that filed the short form had to specify only their largest sales
categories.

NOTES: A Significant portion of U.S.-affiliate employment in petroleum
and coal products is accounted for by integrated petroleum companies
that have, in addition to their manufacturing employees, substantial
numbers of employees in petroleum extraction; because these employees
cannot be identified separately, they are included in petroleum and
coal products manutacturing. For consistency, employees of affiliates
classified in the "oil and gas extraction without refining" industry
and employeps of all U.S. businesses in oil and gas extraction are
also included in petroleum and coal products menufacturing rather
than in mining.

Size ranges are given in employment cells that are suppressed. The
size ranges are: A--1 to 499; F--500 to 999; G--1,000 to 2,499;
H--2,500 to 4,999; I--5,000 to 9,999; J--10,000 to 24,999; K--25,000
to 49,999; L--50,000 to 99,999; M--100,000 or more.

Table 6. Employment by Nonbank U.S. Affiliates by State, 1999-2001

                              Thousands of employees

                              All nonbank affiliates

                           1999       2000       2001

    Total (2)             6,027.6    6,524.6    6,371.9
New England                 399.8      461.0      459.8
  Connecticut               103.4      118.0      123.9
  Maine                      32.8       33.9       34.2
  Massachusetts             194.6      226.8      220.8
  New Hampshire              35.9       46.5       45.2
  Rhode Island               21.6       24.2       24.1
  Vermont                    11.6       11.5       11.6
Mideast                   1,060.2    1,196.5    1,178.8
  Delaware                   28.0       31.8       29.8
  District of Columbia       15.6       17.1       18.0
  Maryland                   98.3      112.9      112.3
  New Jersey                246.6      272.2      270.8
  New York                  410.3      479.1      480.8
  Pennsylvania              261.5      283.4      267.1
Great Lakes               1,061.1    1,114.4    1,080.3
  Illinois                  285.8      325.8      320.9
  Indiana                   164.9      168.2      163.0
  Michigan                  247.4      249.9      244.2
  Ohio                      263.7      260.3      242.2
  Wisconsin                  99.4      110.3      110.1
Plains                      327.2      351.9      348.7
  Iowa                       40.6       40.9       47.0
  Kansas                     54.9       61.0       39.6
  Minnesota                  91.1      106.2      108.4
  Missouri                  101.0      107.4      114.0
  Nebraska                   25.2       21.7       23.6
  North Dakota                7.7        7.7        9.4
  South Dakota                6.5        6.9        6.7
Southeast                 1,555.3    1,616.8    1,599.3
  Alabama                    80.6       77.9       92.2
  Arkansas                   38.1       40.9       41.0
  Florida                   286.5      312.1      303.3
  Georgia                   215.7      227.9      243.8
  Kentucky                   97.0      106.0      101.5
  Louisiana                  62.7       61.3       59.5
  Mississippi                25.3       24.2       27.6
  North Carolina            261.8      264.8      237.7
  South Carolina            137.0      138.4      136.7
  Tennessee                 151.7      153.2      157.0
  Virginia                  171.1      181.9      171.3
  West Virginia              27.6       28.1       27.7
Southwest                   547.0      576.9      556.8
  Arizona                    70.7       73.2       72.3
  New Mexico                 16.4       16.7       14.8
  Oklahoma                   44.0       41.9       41.6
  Texas                     416.0      445.2      428.1
Rocky Mountain              166.6      169.5      160.0
  Colorado                   92.5      102.6       93.4
  Idaho                      18.4       14.2       13.9
  Montana                    13.7        6.8        7.5
  Utah                       35.2       38.1       37.6
  Wyoming                     6.7        7.8        7.7
Far West                    885.6    1,011.3      960.2
  Alaska                     10.7       12.0       12.1
  California                641.4      749.4      713.5
  Hawaii                     44.3       44.8       41.8
  Nevada                     34.0       36.3       32.5
  Oregon                     58.8       62.1       56.4
  Washington                 96.4      106.8      103.9
Puerto Rico                  16.7       17.9       16.5
Other US areas (3)            7.9        7.9        9.2
Foreign (4)                   0.3        0.5        0.3

                              Thousands of employees

                                  Majority-owned
                                nonbank affiliates

                           1999       2000       2001

    Total (2)             5,064.3    5,656.5    5,671.5
New England                 349.2      420.9      433.2
  Connecticut                93.3      105.5      114.9
  Maine                      22.0       31.7       32.8
  Massachusetts             175.9      207.7      208.2
  New Hampshire              29.9       43.8       43.2
  Rhode Island               19.5       22.2       23.5
  Vermont                     8.6        9.9       10.6
Mideast                     917.5    1,051.2    1,059.0
  Delaware                   24.0       27.7       26.2
  District of Columbia       13.9       14.7       17.1
  Maryland                   88.7      104.6      103.8
  New Jersey                211.3      234.6      239.3
  New York                  348.3      415.8      427.5
  Pennsylvania              231.3      253.9      245.0
Great Lakes                 925.5      979.0      960.2
  Illinois                  241.2      277.2      275.8
  Indiana                   144.3      143.8      140.2
  Michigan                  221.2      228.4      228.6
  Ohio                      228.7      228.3      219.1
  Wisconsin                  90.1      101.3       96.5
Plains                      257.9      285.3      306.2
  Iowa                       35.5       36.5       40.1
  Kansas                     33.4       37.8       35.8
  Minnesota                  77.3       90.7       93.1
  Missouri                   81.7       89.4      103.4
  Nebraska                   19.3       19.3       20.3
  North Dakota                4.9        5.2        7.9
  South Dakota                5.8        6.4        5.6
Southeast                 1,307.3    1,397.7    1,411.4
  Alabama                    64.1       65.0       75.4
  Arkansas                   31.6       34.7       35.9
  Florida                   210.7      244.2      253.4
  Georgia                   189.3      199.5      215.5
  Kentucky                   82.2       94.1       91.2
  Louisiana                  49.3       51.3       51.3
  Mississippi                19.8       20.0       20.6
  North Carolina            229.4      239.1      221.3
  South Carolina            128.0      129.1      127.6
  Tennessee                 132.8      137.7      140.1
  Virginia                  146.5      158.0      154.2
  West Virginia              23.7       25.0       25.0
Southwest                   432.6      492.5      495.5
  Arizona                    53.6       60.8       63.2
  New Mexico                 10.2      120.0       12.1
  Oklahoma                   33.4       34.7       38.7
  Texas                     335.3      384.9      381.4
Rocky Mountain              124.8      143.4      138.2
  Colorado                   73.7       88.2       83.4
  Idaho                      11.0       10.8       11.1
  Montana                     9.7        5.0        5.7
  Utah                       25.1       32.2       30.7
  Wyoming                     5.2        7.2        7.3
Far West                    726.4      862.5      842.7
  Alaska                      8.9       10.3       10.3
  California                529.6      638.9      618.1
  Hawaii                     39.4       40.6       39.2
  Nevada                     26.2       30.7       29.0
  Oregon                     46.9       56.0       52.4
  Washington                 75.4       86.0       93.6
Puerto Rico                  15.2       16.0       16.0
Other US areas (3)            7.6        7.5        9.0
Foreign (4)                   0.3        0.5        0.2

                              Percentage of total private-industry
                                  employment in the state (1)

                               All nonbank           Majority-owned
                               affiliates          nonbank affiliates

                          1999    2000    2001    1999    2000    2001

    Total (2)              5.4     5.7     5.6     4.5     4.9     5.0
New England                6.5     7.3     7.3     5.7     6.7     6.9
  Connecticut              6.9     7.8     8.3     6.2     6.9     7.7
  Maine                    6.6     6.6     6.6     4.4     6.2     6.4
  Massachusetts            6.6     7.5     7.3     6.0     6.9     6.9
  New Hampshire            6.6     8.1     8.4     5.5     7.9     7.8
  Rhode Island             5.2     5.7     5.7     4.7     5.2     5.5
  Vermont                  4.5     4.4     4.4     3.4     3.8     4.0
Mideast                    5.8     6.3     6.3     5.0     5.6     5.6
  Delaware                 7.6     8.5     8.1     6.5     7.4     7.1
  District of Columbia     3.6     3.7     3.9     3.2     3.2     3.7
  Maryland                 4.9     5.5     5.4     4.4     5.1     5.0
  New Jersey               7.4     7.8     7.8     6.3     6.8     6.9
  New York                 5.7     6.5     6.6     4.8     5.6     5.8
  Pennsylvania             5.2     5.5     5.2     4.6     5.0     4.8
Great Lakes                5.5     5.7     5.6     4.8     5.0     5.0
  Illinois                 5.4     6.1     6.0     4.6     5.2     5.2
  Indiana                  6.2     6.3     6.3     5.5     5.4     5.4
  Michigan                 6.1     6.1     6.1     5.5     5.6     5.7
  Ohio                     5.3     5.2     4.9     4.6     4.6     4.5
  Wisconsin                4.1     4.4     4.5     3.7     4.1     3.9
Plains                     3.9     4.1     4.1     3.1     3.3     3.6
  Iowa                     3.2     3.2     3.7     2.8     2.9     3.2
  Kansas                   4.9     5.4     3.5     3.0     3.3     3.1
  Minnesota                3.9     4.5     4.6     3.3     3.8     4.0
  Missouri                 4.3     4.5     4.8     3.4     3.7     4.4
  Nebraska                 3.3     2.8     3.0     2.5     2.5     2.6
  North Dakota             2.9     2.9     3.5     1.8     1.9     3.0
  South Dakota             2.1     2.1     2.1     1.9     2.0     1.8
Southeast                  5.8     5.9     5.9     4.9     5.1     5.2
  Alabama                  5.0     4.8     5.8     4.0     4.0     4.7
  Arkansas                 3.9     4.1     4.1     3.2     3.5     3.6
  Florida                  4.7     4.9     4.7     3.4     3.8     3.9
  Georgia                  6.4     6.6     7.1     5.6     5.8     6.3
  Kentucky                 6.3     6.8     6.6     5.4     6.0     6.0
  Louisiana                4.0     3.8     3.7     3.1     3.2     3.2
  Mississippi              2.6     2.5     3.0     2.1     2.1     2.2
  North Carolina           7.8     7.8     7.1     6.9     7.0     6.7
  South Carolina           8.8     8.8     8.8     8.2     8.2     8.2
  Tennessee                6.4     6.4     6.7     5.6     5.7     5.9
  Virginia                 6.0     6.2     5.8     5.1     5.4     5.2
  West Virginia            4.8     4.9     4.8     4.1     4.3     4.3
Southwest                  4.7     4.8     4.7     3.7     4.1     4.2
  Arizona                  3.7     3.7     3.7     2.8     3.1     3.2
  New Mexico               2.9     2.8     2.5     1.8     2.1     2.1
  Oklahoma                 3.6     3.4     3.4     2.8     2.8     3.1
  Texas                    5.3     5.5     5.3     4.3     4.7     4.7
Rocky Mountain             4.5     4.4     4.1     3.3     3.7     3.6
  Colorado                 4.9     5.3     4.8     3.9     4.5     4.3
  Idaho                    4.0     3.0     2.9     2.4     2.3     2.3
  Montana                  4.4     2.1     2.3     3.1     1.6     1.8
  Utah                     3.9     4.1     4.1     2.8     3.5     3.3
  Wyoming                  3.7     4.2     4.1     2.9     3.9     3.8
Far West                   5.0     5.6     5.3     4.1     4.8     4.6
  Alaska                   5.1     5.6     5.5     4.2     4.8     4.7
  California               5.2     5.8     5.6     4.3     5.0     4.8
  Hawaii                  10.0     9.8     9.1     8.9     8.9     8.5
  Nevada                   3.8     3.9     3.4     2.9     3.3     3.0
  Oregon                   4.3     4.5     4.1     3.4     4.0     3.8
  Washington               4.2     4.6     4.5     3.3     3.7     4.1
Puerto Rico               n.a.    n.a.    n.a.    n.a.    n.a.    n.a.
Other US areas (3)        n.a.    n.a.    n.a.    n.a.    n.a.    n.a.
Foreign (4)               n.a.    n.a.    n.a.    n.a.    n.a.    n.a.

n.a. Not available.

(1.) The data on employment in private Industries used to calculate the
shares shown in this table are from BPA's Regional Economic Information
System. The totals are equal to employment in private industries less
employment of private households. The U.S. employment totals used to
calculate affiliate shares in this table differ from those used for
table 4 and the all-industries line of table 5, which are from table
6.4C ("Full-Time and Part-Time Employees by Industry") of the "National
Income and Product Accounts (NIPA) Tables." They differ from the NIPA
estimates of employment because they include depository institutions,
and, by definition, they exclude U.S. residents temporarily employed
abroad by U.S. businesses. They also may differ from the NIPA estimates
because of different definitions and revision schedules.

(2.) For consistency with the coverage of the private-industry
employment data, U.S. affiliate employment in Puerto Rico, in "other
U.S. areas," and in "foreign" was excluded from the U.S. affiliate
employment total when the percentage shares on this line were computed.

(3.) Consists of the U.S. Virgin Islands, Guam, American Samoa, and all
other outlying U.S. areas.

(4.) Consists of employees of U.S. affiliates working abroad.

Table 7. Manufacturing Employment by Nonbank U.S. Affiliates by State,
1999-2001

                              Thousands of employees

                              All nonbank affiliates

                           1999       2000       2001

    Total (2)             2,240.9    2,315.7    2,177.6
New England                 123.0      134.4      132.9
  Connecticut                31.6       34.5       36.2
  Maine                      11.8       11.9       11.7
  Massachusetts              52.7       55.9       54.0
  New Hampshire              17.1       21.9       21.6
  Rhode Island                6.5        6.3        5.3
  Vermont                     3.2        4.0        4.1
Mideast                     287.3      305.2      295.2
  Delaware                    8.1       10.1       10.1
  District of Columbia        0.5        0.6        0.6
  Maryland                   19.6       22.5       21.1
  New Jersey                 68.4       67.5       67.4
  New York                   73.8       84.9       91.5
  Pennsylvania              117.0      119.6      104.7
Great Lakes                 547.6      557.5      509.6
  Illinois                  112.4      119.4      108.3
  Indiana                   111.8      111.7      105.7
  Michigan                  127.1      141.0      127.7
  Ohio                      141.9      128.2      116.9
  Wisconsin                  54.4       57.2       51.1
Plains                      144.5      145.2      151.7
  Iowa                       23.5       23.6       23.9
  Kansas                     19.3       19.1       15.4
  Minnesota                  34.7       37.1       39.4
  Missouri                   49.1       50.3       56.0
  Nebraska                   10.8        8.7        8.8
  North Dakota                3.2        2.8        5.1
  South Dakota                3.9        3.7        2.9
Southeast                   654.8      655.5      607.2
  Alabama                    49.9       48.8       44.9
  Arkansas                   26.4       28.3       26.5
  Florida                    47.2       53.5       50.6
  Georgia                    82.8       86.3       80.5
  Kentucky                   67.0       68.4       64.0
  Louisiana                  23.9       23.7       21.5
  Mississippi                13.5       11.8       11.6
  North Carolina            124.7      120.5       99.9
  South Carolina             73.5       73.9       70.2
  Tennessee                  81.0       78.0       80.4
  Virginia                   51.5       48.2       43.9
  West Virginia              13.4       14.0       13.1
Southwest                   183.0      198.1      185.7
  Arizona                    16.4       16.7       19.0
  New Mexico                  2.8        4.1        3.2
  Oklahoma                   15.9       16.1       16.1
  Texas                     147.9      161.3      147.5
Rocky Mountain               38.9       46.9       42.7
  Colorado                   19.4       27.4       23.6
  Idaho                       4.9        5.9        5.5
  Montana                     2.7        1.6        2.8
  Utah                       10.7       10.9        9.9
  Wyoming                     1.1        1.1        0.9
Far West                    253.1      263.8      243.7
  Alaska                      1.6        1.7        2.1
  California                196.7      208.2      193.6
  Hawaii                      1.2        1.3        1.0
  Nevada                      5.0        5.0        5.3
  Oregon                     20.7       21.0       17.2
  Washington                 27.9       26.6       24.6
Puerto Rico                   8.3        8.6        8.2
Other US areas (3)            0.4        0.3        0.7
Foreign (4)                   0.0        0.0        (*)

                                Thousands of employees

                                    Majority-owned
                                 nonbank affiliates

                           1999       2000       2001

    Total (2)             2,036.5    2,118.8    1,992.6
New England                 115.3      127.7      126.6
  Connecticut                28.7       32.2       34.4
  Maine                      11.0       11.4       11.3
  Massachusetts              50.0       53.3       51.4
  New Hampshire              16.4       20.8       20.6
  Rhode Island                6.3        6.1        5.1
  Vermont                     2.8        3.9        3.9
Mideast                     267.8          M      278.5
  Delaware                    7.2          I        9.2
  District of Columbia        0.4        0.4        0.4
  Maryland                   18.5       21.8       20.4
  New Jersey                 65.4       64.0       64.7
  New York                   66.5       77.9       85.7
  Pennsylvania              109.9      111.7       98.2
Great Lakes                 498.0      516.4      471.6
  Illinois                  101.5      109.7       98.9
  Indiana                   102.0       99.9       94.7
  Michigan                  113.9      133.9      121.9
  Ohio                      129.0      118.7      108.0
  Wisconsin                  51.6       54.2       48.1
Plains                      132.3      132.8      140.3
  Iowa                       21.9       22.4       22.7
  Kansas                     18.1       18.3       14.8
  Minnesota                  31.0       32.2       34.5
  Missouri                   45.1       46.2       52.8
  Nebraska                   10.1        8.2        8.3
  North Dakota                2.3        2.0        4.5
  South Dakota                3.7        3.5        2.7
Southeast                   593.7      596.8      547.5
  Alabama                    42.7       41.1       36.8
  Arkansas                   22.1       23.7       22.5
  Florida                    41.4       49.2       46.5
  Georgia                    76.4       79.0       70.7
  Kentucky                   57.3       60.7       56.9
  Louisiana                  22.0       22.0       19.6
  Mississippi                11.8        9.6        9.4
  North Carolina            116.4      113.6       94.5
  South Carolina             69.4       70.0       66.7
  Tennessee                  75.6       72.7       74.5
  Virginia                   46.8       42.4       37.6
  West Virginia              11.7       12.9       11.7
Southwest                   169.8      184.7      171.8
  Arizona                    15.0       16.2       18.3
  New Mexico                  2.7        3.8        2.8
  Oklahoma                   15.3       15.5       15.6
  Texas                     136.8      149.2      135.1
Rocky Mountain               33.7          K       36.7
  Colorado                   16.3       24.4       20.8
  Idaho                       4.8          H        3.7
  Montana                     2.1        0.9        2.1
  Utah                        9.4       10.1        9.1
  Wyoming                     1.1        1.0        0.9
Far West                    218.1      226.2      210.7
  Alaska                      1.3        1.5        1.7
  California                168.4      175.0      164.7
  Hawaii                      1.2        1.2        1.0
  Nevada                      4.6        4.7        5.0
  Oregon                     18.0       19.3       15.8
  Washington                 24.5       24.5       22.5
Puerto Rico                   7.5        8.4        8.1
Other US areas (3)            0.3        0.3        0.7
Foreign (4)                   0.0        0.0        (*)

                              Percentage of total private-industry
                                  employment in the state (1)

                               All nonbank           Majority-owned
                               affiliates          nonbank affiliates

                          1999    2000    2001    1999    2000    2001

    Total (2)             13.4    14.0    13.6    12.2    12.8    12.4
New England               13.1    14.7    14.6    12.3    13.9    13.9
  Connecticut             13.3    14.8    15.5    12.1    13.8    14.7
  Maine                   14.6    14.9    15.2    13.6    14.3    14.6
  Massachusetts           13.0    14.1    13.8    12.4    13.4    13.2
  New Hampshire           17.6    23.5    22.5    16.9    22.4    21.4
  Rhode Island             9.0     9.1    78.0     8.8     8.9     7.8
  Vermont                  7.2     8.8     8.5     6.3     8.7     7.7
Mideast                   13.5    14.6    14.4    12.6     (D)     8.1
  Delaware                19.6    24.1    24.0    17.3     (D)    13.6
  District of Columbia    15.6    24.3    24.0    13.5    15.8    21.9
  Maryland                12.3    14.2    13.4    11.6    13.7    15.3
  New Jersey              17.5    17.5    17.7    16.8    16.6    13.0
  New York                10.1    12.0    13.3     9.1    11.0    17.0
  Pennsylvania            14.4    15.0    13.4    13.6    14.0    12.4
Great Lakes               14.1    14.4    13.9    12.9    13.3    12.6
  Illinois                13.0    14.0    13.2    11.8    12.9    12.1
  Indiana                 17.5    17.5    17.5    16.0    15.6    15.7
  Michigan                15.6    17.2    16.9    13.9    16.3    16.1
  Ohio                    14.4    13.0    12.5    13.1    12.0    11.5
  Wisconsin                9.5    10.0     9.4     9.0     9.5     8.8
Plains                    10.5    10.8    11.5     9.6     9.9    10.7
  Iowa                     9.5     9.7    10.1     8.9     9.2     9.6
  Kansas                   9.8    10.0     8.1     9.2     9.6     7.8
  Minnesota                9.1     9.8    10.6     8.2     8.5     9.2
  Missouri                13.2    14.5    16.7    12.1    13.3    15.7
  Nebraska                 9.9     8.0     8.2     9.3     7.5     7.7
  North Dakota            14.1    11.6    21.2    10.1     8.2    18.4
  South Dakota             8.2     8.0     6.2     7.8     7.6     5.8
Southeast                 15.6    15.8    15.3    14.1    14.4    13.8
  Alabama                 14.6    14.6    14.4    12.5    12.3    11.8
  Arkansas                11.5    12.0    11.6     9.6    10.0     9.8
  Florida                 11.2    12.9    12.2     9.9    11.8    11.3
  Georgia                 15.6    16.7    16.4    14.4    15.2    14.4
  Kentucky                22.9    23.3    22.9    19.6    20.7    20.3
  Louisiana               14.5    14.7    13.5    13.3    13.6    12.3
  Mississippi              6.0     5.4     5.8     5.3     4.4     4.7
  North Carolina          16.5    16.5    14.5    15.4    15.5    13.7
  South Carolina          21.8    22.1    21.6    20.6    20.9    20.5
  Tennessee               17.0    16.4    17.9    15.9    15.3    16.6
  Virginia                14.1    13.4    12.8    12.8    11.8    10.9
  West Virginia           18.3    18.9    18.1    16.0    17.4    16.1
Southwest                 13.5    14.4    13.8    12.5    13.4    12.8
  Arizona                  8.5     8.3     9.8     7.8     8.1     9.4
  New Mexico               7.2    10.9     8.6     7.1    10.0     7.6
  Oklahoma                 9.5     9.5     9.8     9.2     9.2     9.5
  Texas                   15.5    16.7    15.6    14.3    15.4    14.3
Rocky Mountain            10.2    12.1    11.3     8.8     (D)     9.7
  Colorado                11.8    16.4    14.5     9.9    14.7    12.8
  Idaho                    7.5     8.8     8.2     7.2     (D)     5.6
  Montana                 13.2     7.8    13.5    10.1     4.4    10.3
  Utah                     8.8     8.9     8.2     7.7     8.3     7.5
  Wyoming                 11.2    11.8    10.1    11.2    10.5    10.1
Far West                  10.6    11.3    10.5     9.1     9.7     9.1
  Alaska                  13.8    15.5    18.8    11.0    13.1    15.2
  California              11.0    11.9    11.1     9.4    10.0     9.5
  Hawaii                   8.3     8.4     6.5     8.2     8.3     6.3
  Nevada                  12.9    13.2    13.2    11.8    12.4    12.5
  Oregon                   9.8    10.4     8.7     8.6     9.5     8.0
  Washington               8.4     8.4     7.8     7.4     7.8     7.1
Puerto Rico               n.a.    n.a.    n.a.    n.a.    n.a.    n.a.
Other US areas (3)        n.a.    n.a.    n.a.    n.a.    n.a.    n.a.
Foreign (4)               n.a.    n.a.    n.a.    n.a.    n.a.    n.a.

n.a. Not available.

* Fewer than 50 employees.

(D) Surppressed to avoid disclosure of data of individual companies.

n.a. Not Available.

(1.) The data on employment in manufaturing used to calculate these
shares are from the Census Bureau's County Business Patterns.

(2.) Total affiliate manufaturing employment and the shares of
all-U.S.-business manufacturing employment accounted for by affiliates
in this table differ from those shown in table in table 5 (see footnote
3 to table 5). For consistency with the coverage of the employment data
for all U.S. manufactuirng plants, U.S. affiliate employment in Puerto
Rico, in "other U.S. areas," and in "foreign" was excluded from the
U.S.-affiliate total when the percentage shares on this line were
computed.

(3.) Consists of the U.S. Virgin Islands, Guam, American Samoa, and all
other outlying U.S. areas.

(4.) Consists of employees of U.S. affiliates working abroad.

NOTE. Size ranges are given in employment cells that are suppressed.
The size ranges are: A--1 to 499; F--500 to 999; G--1,000 to 2,499;
H--2,500 to 4,999; I--5,000 to 9,999; J--10,000 to 24,999; K--25,000
to 49,999; L--50,000 to 99,999; M--100,000 or more.

Table 8. U.S. Trade in Goods by Nonbank U.S. Affiliates, 1977-2001

                          Millions of dollars

                 U.S. exports of      U.S. imports of
                goods shipped by      goods shipped to
                   affiliates            affiliates

                            Of                     Of
                          which:                 which:
                          To the                From the
                          foreign               foreign
                          parent                 parent
                Total      group      Total      group
    All
  nonbank
affiliates:

1977            24,858     11,691     43,696      30,878
1978            32,169     16,570     56,567      39,466
1979            44,341     22,073     63,039      45,295
1980            52,199     20,983     75,803      47,010
1981            64,066     26,911     82,259      52,196
1982            60,236     25,024     84,290      51,915
1983            53,854     22,577     81,464      54,802
1984            58,186     27,072    100,489      70,451
1985            56,401     25,900    113,331      81,740
1986            49,560     21,873    125,732      93,418
1987            48,091     19,109    143,537     108,201
1988            69,541     26,425    155,533     118,362
1989            86,316     34,276    171,847     129,926
1990            92,308     37,764    182,936     137,458
1991            96,933     42,222    178,702     132,166
1992           103,925     48,767    184,464     137,799
1993           106,615     47,350    200,599     150,789
1994           120,683     51,147    232,362     174,641
1995           135,153     57,246    250,824     191,222
1996           140,886     60,831    268,673     197,656
1997           141,305     63,025    264,924     202,355
1998           151,005     57,565    292,046     205,181
1999           153,572     59,881    324,994     229,857
2000 (r)       164,673     66,226    372,164     273,598
2001 (p)       163,641     66,323    369,488     282,921

 Majority-
   owned
  nonbank
affiliates:

1988            57,209     26,001    144,896     112,012
1989            72,413     33,778    158,792     122,899
1990            79,368     37,177    170,677     131,665
1991            85,254     41,373    169,362     128,143
1992            91,686     47,567    172,260     132,217
1993            94,329     46,241    186,369     144,698
1994           107,057     49,864    214,485     166,085
1995           121,277     55,842    232,250     182,148
1996           125,897     59,544    248,562     187,889
1997           128,394     61,288    249,310     193,969
1998           136,949     56,115    277,909     199,524
1999           140,808     58,385    312,895     225,132
2000 (r)       150,911     64,785    354,613     267,187
2001 (p)       149,323     64,760    352,861     277,147

                 U.S. exports of         U.S. imports of
                goods shipped by        goods shipped to
                 affiliates as           affiliates as
                a percentage of      a percentage total of
               total U.S. exports     total U.S. imports
                    of goods               of goods

                            Of                     Of
                          which:                 which:
                          To the                From the
                          foreign               foreign
                          parent                 parent
                Total      group       Total     group
    All
  nonbank
affiliates:

1977            20.2          9.5      29.0        20.4
1978            22.1         11.4      32.1        22.4
1979            23.8         11.8      30.0        21.5
1980            23.1          9.3      30.9        19.2
1981            26.8         11.3      31.5        20.0
1982            27.8         11.6      34.6        21.3
1983            26.2         11.0      31.6        21.2
1984            26.0         12.1      30.4        21.3
1985            25.8         11.8      33.7        24.3
1986            21.9          9.7      34.4        25.5
1987            18.9          7.5      35.3        26.6
1988            21.5          8.2      35.2        26.8
1989            23.7          9.4      36.3        27.4
1990            23.5          9.6      36.9        27.7
1991            23.0         10.0      36.6        27.1
1992            23.2         10.9      34.6        25.9
1993            22.9         10.2      34.5        26.0
1994            23.5         10.0      35.0        26.3
1995            23.1          9.8      33.7        25.7
1996            22.5          9.7      33.8        24.9
1997            20.5          9.1      30.5        23.3
1998            22.1          8.4      32.0        22.5
1999            22.1          8.6      31.7        22.4
2000 (r)        21.1          8.5      30.6        22.5
2001 (p)        22.4          9.1      32.4        24.8

 Majority-
   owned
  nonbank
affiliates:

1988            17.7          8.0      32.8        25.3
1989            19.9          9.3      33.5        25.9
1990            20.2          9.5      34.4        26.5
1991            20.2          9.8      34.7        26.2
1992            20.5         10.6      32.3        24.8
1993            20.3          9.9      32.1        24.9
1994            20.9          9.7      32.3        25.0
1995            20.7          9.5      31.2        24.5
1996            20.1          9.5      31.3        23.6
1997            18.6          8.9      28.7        22.3
1998            20.1          8.2      30.5        21.9
1999            20.2          8.4      30.5        22.0
2000 (r)        19.3          8.3      29.1        21.9
2001 (p)        20.5          8.9      30.9        24.3

(p) Preliminary.
(r) Revised.

NOTE. The data on total U.S. exports and imports of goods that were
used to calculate the shares shown in this table are
Census-Bureau-based data, which are before the adjustments to the
balance-of-payments basis presented in BEA's International Transactions
Accounts (see table 2, lines At and A9 in Douglas B. Weinberg and
Patricia E. Abaroa, "U.S. International Transactions, First Quarter
2003", SURVEY OF CURRENT BUSINESS 83 (July 2003): 68-69).

Table 9. U.S. Trade in Goods of Nonbank U.S. Affiliates by Selected
Country of Ultimate Beneficial Owner, 1999-2001

                                                       Pecentage of
                               Millions of             all-countries
                                 dollars                   total

                       1999       2000       2001      1999     2000

U.S. exports shipped by affiliates:

  All countries       153,572    164,673    163,641    100.0    100.0
Canada                  7,495      9,239      9,497      4.9      5.6
France                 16,655     15,670     16,011     10.8      9.5
Germany                31,713     31,976     30,173     20.7     19.4
Netherlands             5,214      7,334      6,717      3.4      4.5
Switzerland             5,707      6,020      7,216      3.7      3.7
United Kingdom         15,768     16,929     15,985     10.3     10.3
Japan                  41,373     43,871     43,725     26.9     26.6
Korea, Republic of      5,717      6,396      5,779      3.7      3.9
Other                  23,929     27,237     28,538     15.6     16.5

US imports shipped to affiliates:

  All countries       324,994    372,164    369,488    100.0    100.0
Canada                 16,647     21,151     16,596      5.1      5.7
France                 16,178     16,949     19,154      5.0      4.6
Germany                53,911     58,156     55,981     16.6     15.6
Netherlands            15,938        (D)     16,496      4.9      5.9
Switzerland             7,289      8,519      8,461      2.2      2.3
United Kingdom         19,291     24,049     26,366      5.9      6.5
Japan                 138,564    151,152    153,342     42.6     40.6
Korea, Republic of     15,334     19,212     19,253      4.7      5.2
Other                  41,841        (D)     53,839     12.9     13.7

                                                            Addendum:
                      Percentage                             Percent
                       of all-      Percentage of total     change in
                      countries      exports or imports     affiliate
                        total             of goods          exports or
                                                             imports,
                         2001       1999    2000    2001    2000-2901

U.S. exports shipped by affiliates:

  All countries         100.0       22.1    21.1    22.4          -0.6
Canada                    5.8        1.1     1.2     1.3           2.8
France                    9.8        2.4     2.0     2.2           2.2
Germany                  18.4        4.6     4.1     4.1          -5.6
Netherlands               4.1        0.7     0.9     0.9          -8.4
Switzerland               4.4        0.8     0.8     1.0          19.9
United Kingdom            9.8        2.3     2.2     2.2          -5.6
Japan                    26.7        5.9     5.6     6.0          -0.3
Korea, Republic of        3.5        0.8     0.8     0.8          -9.6
Other                    17.4        3.4     3.5     3.9           4.8

US imports shipped to affiliates:

  All countries         100.0       31.7    30.6    32.4          -0.7
Canada                   4.5         1.6     1.7     1.5         -21.5
France                   5.2         1.6     1.4     1.7          13.0
Germany                  15.2        5.3     4.8     4.9          -3.7
Netherlands              4.5         1.6     (D)     1.4           (D)
Switzerland              2.3         0.7     0.7     0.7          -0.7
United Kingdom           7.1         1.9     2.0     2.3           9.6
Japan                    41.5       13.5    12.4    13.4           1.4
Korea, Republic of       5.2         1.5     1.6     1.7           0.2
Other                    14.6        4.1     (D)     4.7           (D)

(D) Suppressed to avoid disclosure of data of individual companies.

NOTE. Affiliates of the eight countries listed in this sloe accounted
for the largest shares of affiliate trade in each of the years
1999-2001.

Table 10.1 Selected Data of Nonbank U.S. Affiliates by Industry of
Affiliate, 2000

                                           Millions of dollars

                                                              Expendi-
                                                 Gross       tures for
                                               property,     property,
                                    Total      plant, and    plant, and
                                   assets      equipment     equipment

                                     (1)          (2)           (3)

      All industries              4,893,942     1,175,628       149,131
Manufacturing                     1,117,104       511,324        55,355
    Food                             45,791        22,716         2,223
    Beverages and tobacco
      products                       17,933         5,659           600
    Textiles, apparel, and
      leather products               10,258         6,039           483
    Wood products                     1,917           803            75
    Paper                            33,004        22,491         1,988
    Printing and related
      support activities              9,804         6,120           442
    Petroleum and coal
      products                       59,288        43,407         3,100
    Chemicals                       261,913       117,862        10,283
        Basic chemicals              61,677        50,486         3,393
        Resins and synthetic
          rubber, fibers,
          and filaments              23,330        14,265         2,004
        Pharmaceuticals and
          medicines                 102,178        31,298         2,945
        Soap, cleaning com-
          pounds, and toilet
          preparations               49,317         8,260         1,011
        Other                        25,411        13,552           929
    Plastics and rubber
      products                       33,279        22,781         1,927
    Nonmetallic mineral
      products                       57,193        42,765         3,643
    Primary and fabricated
      metals                         66,001        41,503         3,189
        Primary metals               39,287        29,275         2,294
        Fabricated metal
          products                   26,714        12,228           895
    Machinery                        81,751        24,086         2,560
        Agriculture, construc-
          tion, end mining
          machinery                  21,388         4,601           420
        Industrial machinery          6,275         2,725           218
        Other                        54,088        16,761         1,922
    Computers and
      Electronic products           172,295        45,240         6,662
        Computers and
          peripheral equipment        6,583         1,991           195
        Communications
          equipment                  87,885        10,993         1,605
        Audio and video
          equipment                     (D)           (D)           (D)
        Semiconductors and
          other electronic
          components                 42,454        18,205         2,385
        Navigational,
          measuring, and
          other instruments          15,131         6,631           (D)
        Magnetic and optical
          media                         (D)           (D)           127
    Electrical equipment,
      appliances, and
      components                     50,388        17,944         2,077
    Transportation
      equipment                     203,366        87,290        15,595
        Motor vehicles, bodies
          and trailers, and
          parts                     186,748        84,333        15,211
        Other                        16,618         2,958           384
    Furniture and                     1,288           646           100
      related products
    Miscellaneous
      manufacturing                  11,635         3,972           407
Wholesale trade                     404,594       179,313        24,091
    Motor vehicles and
      motor vehicle parts
      and supplies                   92,518        42,211        10,936
    Professional and
      commercial equip-
      ment and supplies              28,122         8,667           832
    Electrical goods                 34,699         9,180           892
    Other durable goods              50,050        10,863         1,283
    Petroleum and
      petroleum products            109,103           (D)           (D)
    Other nondurable
      goods                          90,102           (D)           (D)
Retail trade                         72,639        35,533         3,705
    Food and beverage
      stores                         34,493        24,635         2,211
    Other                            38,146        10,898         1,494
Information                         321,514       105,808        25,647
    Publishing industries            73,591         8,689         1,494
    Motion picture and
      sound recording
      industries                     33,242         4,981           605
    Broadcasting and
      telecommunications            190,395        88,300        22,680
        Broadcasting, cable
          networks, and
          program
          distribution                  (D)         2,971           353
        Telecommunications              (D)        85,329        22,328
    Information services
      and data processing
      services                       24,265         3,837           868
Finance (except depository
  Institutions) and
  Insurance                       2,490,728        57,294        10,301
    Finance, except depo-
      sitory institutions         1,427,537        16,987         4,261
    Insurance carriers
      and related
      activities                  1,063,191        40,307         6,040
Real estate and rental
  and leasing                       119,939        94,384         9,521
    Real estate                     100,527        85,270         7,621
    Rental and leasing
                                     19,412         9,113         1,900
Professional, scientific,
  end technical services             43,405         8,208         1,157
    Architectural,
      engineering, and
      related services                6,264         1,922           163
    Computer systems
      design and related
      services                        9,673         2,330           511
    Management, scien-
      tific, and technical
      consulting                      2,105           321            51
    Other                            25,363         3,635           432
Other industries                    324,019       183,765        19,355
    Agriculture, forestry
      fishing and
      hunting                         6,811         4,428           425
    Mining                           52,736        48,552         5,012
    Utilities                        53,590        36,634         3,988
    Construction                     25,671        14,187         3,060
    Transportation and
      warehousing                    45,732        35,526         2,306
    Management of nonbank
      companies and
      enterprises                    44,623           693           349
    Administration,
      support, and waste
      management                     16,943         4,957           377
    Haalth care and
      social assistance              14,278         4,044           274
    Accommodation and
      food services                  48,324        26,629         3,007
        Accommodation                39,078        21,940         2,325
        Food services and
          drinking places             9,246         4,689           682
    Miscellaneous services           15,312         8,114           558

                                       Millions of dollars

                                                Net       Gross
                                    Sales      income    product

                                     (4)        (5)        (6)

      All industries              2,334,692    34,593    516,664
Manufacturing                       987,450    11,511    235,620
    Food                             47,508       424     11,136
    Beverages and tobacco
      products                       14,919       488      5,275
    Textiles, apparel, and
      leather products               11,047      -223      3,026
    Wood products                     2,214         3        556
    Paper                            23,142       583      7,753
    Printing and related
      support activities             11,937       193      4,681
    Petroleum and coal
      products                      107,939     3,906     14,387
    Chemicals                       164,398     4,023     44,987
        Basic chemicals              42,239      -419     10,917
        Resins and synthetic
          rubber, fibers,
          and filaments              19,417       -10      3,126
        Pharmaceuticals and
          medicines                  61,104     4,459     19,425
        Soap, cleaning com-
          pounds, and toilet
          preparations               24,217       -43      6,790
        Other                        17,420        37      4,730
    Plastics and rubber
      products                       33,409      -300     10,011
    Nonmetallic mineral
      products                       41,674     2,431     15,605
    Primary and fabricated
      metals                         67,583     1,227     17,896
        Primary metals               42,669       739     10,023
        Fabricated metal
          products                   24,914       488      7,873
    Machinery                        68,375    -1,108     18,480
        Agriculture, construc-
          tion, end mining
          machinery                  14,346      -477      3,078
        Industrial machinery          6,680      -942      1,499
        Other                        47,348       312     13,903
    Computers and
      Electronic products           128,324    -4,725     28,394
        Computers and
          peripheral equipment       13,650      -126      1,800
        Communications
          equipment                  44,936    -4,398      9,406
        Audio and video
          equipment                     (D)       (D)      4,217
        Semiconductors and
          other electronic
          components                 34,316      -216      7,974
        Navigational,
          measuring, and
          other instruments             (D)       (D)      4,355
        Magnetic and optical
          media                       2,150      -352        641
    Electrical equipment,
      appliances, and
      components                     45,567       451     16,501
    Transportation
      equipment                     207,404     3,691     32,994
        Motor vehicles, bodies
          and trailers, and
          parts                     194,160     3,597     29,695
        Other                        13,244        93      3,298
    Furniture and                     2,077        48        675
      related products
    Miscellaneous
      manufacturing                   9,934       400      3,264
Wholesale trade                     634,092    14,948     85,016
    Motor vehicles and
      motor vehicle parts
      and supplies                  125,155     2,876     13,127
    Professional and
      commercial equip-
      ment and supplies              46,639      -229      6,478
    Electrical goods                 67,517       252      7,801
    Other durable goods              92,676       978     10,125
    Petroleum and
      petroleum products            170,364     7,283     31,173
    Other nondurable
      goods                         131,741     3,790     16,313
Retail trade                        116,266      -221     24,269
    Food and beverage
      stores                         68,610       848     15,432
    Other                            47,656    -1,069      8,836
Information                         121,638    -4,959     39,094
    Publishing industries            35,473        21     13,692
    Motion picture and
      sound recording
      industries                      9,885       190      1,981
    Broadcasting and
      telecommunications             68,896    -4,374     21,150
        Broadcasting, cable
          networks, and
          program
          distribution                  (D)       (D)      2,240
        Telecommunications              (D)       (D)     18,909
    Information services
      and data processing
      services                        7,384      -795      2,271
Finance (except depository
  Institutions) and
  Insurance                         237,602    11,514     44,005
    Finance, except depo-
      sitory institutions           104,746     2,759     20,802
    Insurance carriers
      and related
      activities                    132,856     8,755     23,203
Real estate and rental
  and leasing                        24,185     1,849     10,895
    Real estate                      17,431     1,591      7,810
    Rental and leasing
                                      6,754       258      3,084
Professional, scientific,
  end technical services             31,799    -1,498      9,224
    Architectural,
      engineering, and
      related services                5,772      -127      1,973
    Computer systems
      design and related
      services                        7,125      -898      2,370
    Management, scien-
      tific, and technical
      consulting                      1,313        28        585
    Other                            17,590      -500      4,296
Other industries                    181,660     1,448     68,542
    Agriculture, forestry
      fishing and
      hunting                         3,165        18      1,076
    Mining                           23,372     1,368     10,598
    Utilities                        26,910       708      4,825
    Construction                     32,457       519      6,378
    Transportation and
      warehousing                    29,372       748     11,830
    Management of nonbank
      companies and
      enterprises                       (D)       (D)     -3,199
    Administration,
      support, and waste
      management                     22,276      -404     16,146
    Haalth care and
      social assistance                 (D)       (D)      4,641
    Accommodation and
      food services                  24,922       625     12,828
        Accommodation                10,650       283      5,709
        Food services and
          drinking places            14,271       342      7,119
    Miscellaneous services            8,334      -121      3,418

                                   Millions                   Millions
                                  of dollars                 of dollars

                                                                U.S.
                                                              exports
                                  Compensa-     Thousands     of goods
                                   tion of         of        shipped by
                                  employees     employees    affiliates

                                     (7)           (8)          (9)

      All industries               332,164       6,524.6      164,673
Manufacturing                      153,842       2,705.4      101,259
    Food                             6,649         148.6        2,489
    Beverages and tobacco
      products                       2,038          37.7        1,496
    Textiles, apparel, and
      leather products               2,349          65.7        1,303
    Wood products                      421          17.7          199
    Paper                            4,815          79.3        2,099
    Printing and related
      support activities             3,735          70.7          475
    Petroleum and coal
      products                       2,365          28.9        1,367
    Chemicals                       28,484         392.5       16,083
        Basic chemicals              6,665          85.7        5,812
        Resins and synthetic
          rubber, fibers,
          and filaments              1,771          33.2        1,548
        Pharmaceuticals and
          medicines                 12,517         145.1        5,548
        Soap, cleaning com-
          pounds, and toilet
          preparations               4,450          80.6        1,080
        Other                        3,080          47.8        2,095
    Plastics and rubber
      products                       7,851         155.3        2,924
    Nonmetallic mineral
      products                       8,480         167.0        1,456
    Primary and fabricated
      metals                        12,172         226.9        5,427
        Primary metals               6,346         100.3        3,017
        Fabricated metal
          products                   5,827         126.6        2,410
    Machinery                       15,167         298.3        8,638
        Agriculture, construc-
          tion, end mining
          machinery                  2,620          50.9        2,147
        Industrial machinery         1,621          27.7        1,079
        Other                       10,926         219.7        5,413
    Computers and
      Electronic products           23,295         335.1       19,273
        Computers and
          peripheral equipment       1,572          26.6        2,289
        Communications
          equipment                 10,361         125.0        5,391
        Audio and video
          equipment                  3,321          34.8          (D)
        Semiconductors and
          other electronic
          components                 4,781          85.7        6,658
        Navigational,
          measuring, and
          other instruments          2,831          51.2          (D)
        Magnetic and optical
          media                        429          11.7           39
    Electrical equipment,
      appliances, and
      components                    10,565         214.3        6,649
    Transportation
      equipment                     22,626         405.3       30,096
        Motor vehicles, bodies
          and trailers, and
          parts                     19,887         352.9       27,673
        Other                        2,739          52.4        2,422
    Furniture and                      487          14.8          122
      related products
    Miscellaneous
      manufacturing                  2,343          47.1        1,163
Wholesale trade                     34,627         563.8       57,002
    Motor vehicles and
      motor vehicle parts
      and supplies                   4,459          57.6        2,930
    Professional and
      commercial equip-
      ment and supplies              4,702          72.8        5,011
    Electrical goods                 5,430          86.2        7,978
    Other durable goods              6,806         129.8        9,935
    Petroleum and
      petroleum products             4,411          67.7       11,844
    Other nondurable
      goods                          9,019         149.8       19,304
Retail trade                        15,734         666.5        1,523
    Food and beverage
      stores                         9,201         419.8            2
    Other                            6,534         246.7        1,521
Information                         26,472         409.6          713
    Publishing industries            9,689         139.4          (D)
    Motion picture and
      sound recording
      industries                     1,438          38.1          (D)
    Broadcasting and
      telecommunications            12,929         194.7            5
        Broadcasting, cable
          networks, and
          program
          distribution               1,403          19.9            0
        Telecommunications          11,526         174.7            5
    Information services
      and data processing
      services                       2,417          37.4            6
Finance (except depository
  Institutions) and
  Insurance                         37,965         300.1          (*)
    Finance, except depo-
      sitory institutions           22,372         117.3          (*)
    Insurance carriers
      and related
      activities                    15,593         182.8            0
Real estate and rental
  and leasing                        2,710          46.7          (D)
    Real estate                      1,434          20.2            4
    Rental and leasing
                                     1,276          26.6          (D)
Professional, scientific,
  end technical services             9,907         153.5          374
    Architectural,
      engineering, and
      related services               2,031          35.8          244
    Computer systems
      design and related
      services                       3,037          37.5          (D)
    Management, scien-
      tific, and technical
      consulting                       485           7.5            0
    Other                            4,354          72.8          (D)
Other industries                    50,705         167.9          (D)
    Agriculture, forestry
      fishing and
      hunting                          616          15.7          339
    Mining                           4,450          60.7        2,684
    Utilities                        2,242          28.8           76
    Construction                     4,840          85.6           97
    Transportation and
      warehousing                    7,557         239.4           58
    Management of nonbank
      companies and
      enterprises                      330           2.6          (*)
    Administration,
      support, and waste
      management                    15,885         650.7           26
    Haalth care and
      social assistance              3,545         100.5          (D)
    Accommodation and
      food services                  8,873         408.3          (*)
        Accommodation                3,064         120.8          (*)
        Food services and
          drinking places            5,808         287.5            0
    Miscellaneous services           2,368          86.6           29

                                  Millions of dollars

                                     U.S. imports
                                       of goods
                                      shipped to
                                      affiliates

                                         (10)

      All industries                    372,164
Manufacturing                           156,085
    Food                                  4,354
    Beverages and tobacco
      products                              723
    Textiles, apparel, and
      leather products                    2,458
    Wood products                           413
    Paper                                   641
    Printing and related
      support activities                    830
    Petroleum and coal
      products                           12,096
    Chemicals                            16,963
        Basic chemicals                   4,211
        Resins and synthetic
          rubber, fibers,
          and filaments                   1,687
        Pharmaceuticals and
          medicines                       9,070
        Soap, cleaning com-
          pounds, and toilet
          preparations                      421
        Other                             1,574
    Plastics and rubber
      products                            4,802
    Nonmetallic mineral
      products                            2,224
    Primary and fabricated
      metals                              8,893
        Primary metals                    6,854
        Fabricated metal
          products                        2,040
    Machinery                             9,291
        Agriculture, construc-
          tion, end mining
          machinery                       2,525
        Industrial machinery                991
        Other                             5,775
    Computers and
      Electronic products                37,510
        Computers and
          peripheral equipment            6,118
        Communications
          equipment                      10,274
        Audio and video
          equipment                         (D)
        Semiconductors and
          other electronic
          components                      8,483
        Navigational,
          measuring, and
          other instruments                 878
        Magnetic and optical
          media                             (D)
    Electrical equipment,
      appliances, and
      components                          2,911
    Transportation
      equipment                          50,879
        Motor vehicles, bodies
          and trailers, and
          parts                          48,215
        Other                             2,664
    Furniture and                            86
      related products
    Miscellaneous
      manufacturing                       1,012
Wholesale trade                         206,668
    Motor vehicles and
      motor vehicle parts
      and supplies                          (D)
    Professional and
      commercial equip-
      ment and supplies                  19,861
    Electrical goods                     31,225
    Other durable goods                  28,618
    Petroleum and
      petroleum products                 24,175
    Other nondurable
      goods                                 (D)
Retail trade                                (D)
    Food and beverage
      stores                                (D)
    Other                                 3,917
Information                                 240
    Publishing industries                   127
    Motion picture and
      sound recording
      industries                            (D)
    Broadcasting and
      telecommunications                    (D)
        Broadcasting, cable
          networks, and
          program
          distribution                        0
        Telecommunications                  (D)
    Information services
      and data processing
      services                                0
Finance (except depository
  Institutions) and
  Insurance                                   4
    Finance, except depo-
      sitory institutions                     4
    Insurance carriers
      and related
      activities                              0
Real estate and rental
  and leasing                               639
    Real estate                              34
    Rental and leasing
                                            605
Professional, scientific,
  end technical services                    367
    Architectural,
      engineering, and
      related services                      (D)
    Computer systems
      design and related
      services                              (D)
    Management, scien-
      tific, and technical
      consulting                              0
    Other                                    45
Other industries                            (D)
    Agriculture, forestry
      fishing and
      hunting                               156
    Mining                                  501
    Utilities                             2,876
    Construction                             16
    Transportation and
      warehousing                            17
    Management of nonbank
      companies and
      enterprises                             2
    Administration,
      support, and waste
      management                              1
    Haalth care and
      social assistance                     (D)
    Accommodation and
      food services                           4
        Accommodation                         4
        Food services and
          drinking places                     0
    Miscellaneous services                   19

* Less than $500,000.

(D) Suppressed to avoid disclosure of data of individual companies

NOTE. Estimates for 2000 are revised.

Table 10.2 Selected Data of Nonbank U.S. Affiliates by Industry of
Affiliate, 2001

                                           Millions of dollars

                                                              Expendi-
                                                 Gross       tures for
                                               Property,     property,
                                    Total      plant, and    plant, and
                                   assets      equipment     equipment

                                     (1)          (2)           (3)

      All Industries              5,466,000     1,200,064       144,139
Manufacturing                     1,151,660       547,751        57,726
    Food                             59,196        23,019         2,023
    Beverages and
      tobacco products               18,542         6,067           575
    Textiles, apparel,
      and leather products            8,368         5,410           452
    Wood products                     2,287         1,058            71
    Paper                            32,625        22,256         1,587
    Printing and related
      support activities              9,842         6,473           433
    Petroleum and coal
      products                       53,607        45,763         3,714
    Chemicals                       263,557       123,960        10,680
        Basic chemicals              56,544        46,819         2,821
        Resins and synthetic
          rubber, fibers, and
          filaments                  33,066        22,670         2,647
        Pharmaceuticals and
          medicines                 102,459        31,874         3,805
        Soap, cleaning
          compounds, and
          toilet preparations        47,035         9,365           637
        Other                        24,452        13,232           768
    Plastics and
      rubber products                35,659        25,292         1,978
    Nonmetallic mineral
      products                       62,018        46,893         4,050
    Primary and
      fabricated metals              61,158        41,783         2,599
        Primary metals               38,709        30,269         1,695
        Fabricated metal
          products                   22,448        11,514           904
    Machinery                        95,222        25,158         2,838
        Agriculture, construc-
          tion, and mining
          machinery                  21,518         4,791           422
        Industrial machinery          8,739         3,684           493
        Other                        64,966        16,684         1,923
    Computers and
      electronic products           111,804        38,958         5,860
        Computers and peri-
          pheral equipment            6,237         2,294           330
        Communications
          equipment                  42,961         9,859         1,638
        Audio and video
          equipment                     (D)           (D)           197
        Semiconductors and
          other electronic
          components                 38,059        16,350         1,896
        Navigational,
          measuring, and other
          instruments                16,424         7,007         1,664
        Magnetic and optical
          media                         (D)           (D)           135
    Electrical equipment,
      appliances, and
      components                    118,087        25,062         4,034
    Transportation equipment        206,515       105,915        16,330
        Motor vehicles, bodies
          and trailers, and
          parts                     189,907       102,870        15,997
        Other                        16,608         3,045           333
    Furniture and
      related products                1,270           684            95
    Miscellaneous
      manufacturing                  11,905         3,999           409
Wholesale trade                     411,476       183,044        23,896
    Motor vehicles and
      motor vehicle parts
      and supplies                   74,125        33,532         7,476
    Professional and
      commercial equipment
      and supplies                   29,307         8,915         1,141
    Electrical goods                 50,995        16,023         1,643
    Other durable goods              48,438        11,116         1,316
    Petroleum and
      petroleum products            114,506           (D)           (D)
    Other nondurable
      goods                          94,105           (D)           (D)
Retail trade                         83,705        40,971         4,983
    Food and beverage
      stores                         37,354        25,096         3,133
    Other                            46,351        15,875         1,851
Information                         334,134        68,564        15,234
    Publishing industries            59,148         6,752           902
    Motion picture and
      sound recording
      industries                     54,164         4,720           637
    Broadcasting and
      telecommunications            178,253        48,888        12,120
        Broadcasting, cable
          networks, and
          program distribution       31,592         3,379           519
        Telecommunications          146,661        45,508        11,600
    Information services
      and data processing
      services                       42,569         8,204         1,576
Finance (except depository
  Institutions) and
  Insurance                       2,922,634        71,290        13,840
    Finance, except depo-
      sitory institutions         1,678,033        25,255         6,751
    Insurance carriers
      and related activities      1,244,600        46,035         7,089
Real estate and rental
  and leasing                       118,683        94,670         8,483
    Real estate                     100,606        86,813         7,034
    Rental and leasing
      (except real estate)           18,077         7,857         1,449
Professional, scientific,
  and technical services             60,319        12,341         1,512
    Architectural, enginee-
      ring, and related
      services                       10,417         2,695           204
    Computer systems
      design and related
      services                       14,802         4,813           766
    Management, scienti-
      fic, and technical
      consulting                      3,606           471            77
    Other                            31,493         4,362           465
Other industries                    383,390       181,433        18,465
    Agriculture,
      forestry, fishing and
      hunting                         6,563         4,484           440
    Mining                           52,772        46,135         4,242
    Utilities                        54,333        38,434         4,822
    Construction                     26,365        14,293         2,864
    Transportation and
      warehousing                    47,169        35,898         2,302
    Management of
      nonbank companies
      and enterprises               106,208           795           371
    Administration,
      support, and waste
      management                     15,947         5,046           327
    Health care and
      social assistance              13,424         3,591           263
    Accommodation and
      food services                  46,420        24,991         2,293
        Accommodation                37,170        22,040         1,980
        Food services and
          drinking places             9,251         2,951           313
    Miscellaneous
      services                       14,189         7,766           541

                                        Millions of dollars

                                                 Net       Gross
                                    Sales      income     product

                                     (4)         (5)        (6)

      All Industries              2,354,136    -42,902    486,553
Manufacturing                       952,003    -22,025    225,483
    Food                             49,269        -74     11,362
    Beverages and
      tobacco products               15,056        386      5,305
    Textiles, apparel,
      and leather products            8,933       -245      2,664
    Wood products                     2,284        -27        647
    Paper                            22,588       -411      7,149
    Printing and related
      support activities             11,701       -102      4,522
    Petroleum and coal
      products                       95,232      3,951     14,870
    Chemicals                       174,681       -630     44,412
        Basic chemicals              38,872     -1,646      9,886
        Resins and synthetic
          rubber, fibers, and
          filaments                  29,307       -488      4,376
        Pharmaceuticals and
          medicines                  65,083      2,144     19,290
        Soap, cleaning
          compounds, and
          toilet preparations        25.025       -195      6,644
        Other                        16,394       -445      4,217
    Plastics and
      rubber products                35,178       -945     10,655
    Nonmetallic mineral
      products                       43,140      1,359     15,643
    Primary and
      fabricated metals              63,091         83     17,014
        Primary metals               39,857       -556      9,869
        Fabricated metal
          products                   23,234        638      7,145
    Machinery                        72,510     -1,592     21,325
        Agriculture, construc-
          tion, and mining
          machinery                  14,170       -276      3,063
        Industrial machinery          8,504       -970      2,084
        Other                        49,836       -347     16,178
    Computers and
      electronic products            98,870    -19,162     21,566
        Computers and peri-
          pheral equipment           13,545       -574      1,492
        Communications
          equipment                  31,583    -12,198      5,309
        Audio and video
          equipment                   6,057       -237      1,141
        Semiconductors and
          other electronic
          components                 36,490     -6,638      8,160
        Navigational,
          measuring, and other
          instruments                 9,056         48      4,769
        Magnetic and optical
          media                       2,140        436        695
    Electrical equipment,
      appliances, and
      components                     49,658     -1,509     12,777
    Transportation equipment        198,389     -2,472     32,166
        Motor vehicles, bodies
          and trailers, and
          parts                     185,518     -2,450     28,747
        Other                        12,872        -22      3,420
    Furniture and
      related products                2,020         80        525
    Miscellaneous
      manufacturing                   9,403       -715      2,881
Wholesale trade                     653,230      8,227     86,241
    Motor vehicles and
      motor vehicle parts
      and supplies                  129,589      2,381      9,978
    Professional and
      commercial equipment
      and supplies                   44,316       -721      6,608
    Electrical goods                 90,411     -1,637     11,073
    Other durable goods              84,354       -262      9,525
    Petroleum and
      petroleum products            182,075      5,619     30,667
    Other nondurable
      goods                         122,485      2,846     17,390
Retail trade                        137,142       -989     30,131
    Food and beverage
      stores                         75,608        754     17,655
    Other                            61,535     -1,743     12,476
Information                          98,779    -19,709     18,372
    Publishing industries            28,976     -4,059      7,698
    Motion picture and
      sound recording
      industries                     11,633       -363      2,073
    Broadcasting and
      telecommunications             45,443    -12,434      4,263
        Broadcasting, cable
          networks, and
          program distribution       10,904     -1,362      2,196
        Telecommunications           34,539    -11,073      2,068
    Information services
      and data processing
      services                       12,727     -2,853      4,338
Finance (except depository
  Institutions) and
  Insurance                         253,305     -4,705     33,264
    Finance, except depo-
      sitory institutions            98,940     -4,888     16,499
    Insurance carriers
      and related activities        154,364        183     16,765
Real estate and rental
  and leasing                        24,197      2,395     11,255
    Real estate                      17,501      2,216      8,264
    Rental and leasing
      (except real estate)            6,696        179      2,991
Professional, scientific,
  and technical services             45,396     -3,395     15,178
    Architectural, enginee-
      ring, and related
      services                        7,799       -640      2,396
    Computer systems
      design and related
      services                        8,331     -1,987      2,450
    Management, scienti-
      fic, and technical
      consulting                      7,636        368      5,234
    Other                            21,631     -1,136      5,099
Other industries                    190,084     -2,701     67,628
    Agriculture,
      forestry, fishing and
      hunting                         2,940        -34        939
    Mining                           22,195        673     10,792
    Utilities                        35,049        506      5,623
    Construction                     33,739       -141      6,751
    Transportation and
      warehousing                    31,918        358     12,356
    Management of
      nonbank companies
      and enterprises                   953     -2,188     -3,400
    Administration,
      support, and waste
      management                     22,423     -1,052     15,511
    Health care and
      social assistance               9,837       -268      4,413
    Accommodation and
      food services                  23,242        -87     11,382
        Accommodation                10,533       -143      5,189
        Food services and
          drinking places            12,709         56      6,193
    Miscellaneous
      services                        7,788       -469      3,261

                                  Millions                  Millions
                                     of                         of
                                   dollars                   dollars

                                                               U.S.
                                                             exports
                                  Compensa-    Thousands     of goods
                                   tion of        of        shipped by
                                  employees    employees    affiliates

                                     (7)          (8)          (9)

      All Industries               350,575      6,371.9      163,641
Manufacturing                      160,926      2,569.8       99,394
    Food                             6,874        153.0        2,364
    Beverages and
      tobacco products               2,162         37.3        1,472
    Textiles, apparel,
      and leather products           1,962         49.6          910
    Wood products                      531         17.7          299
    Paper                            4,770         78.6        2,039
    Printing and related
      support activities             3,750         69.6          395
    Petroleum and coal
      products                       2,973         26.5        1,732
    Chemicals                       30,337        385.2       16,935
        Basic chemicals              6,487         79.2        5,714
        Resins and synthetic
          rubber, fibers, and
          filaments                  2,647         41.6        1,954
        Pharmaceuticals and
          medicines                 13,678        151.8        6,344
        Soap, cleaning
          compounds, and
          toilet preparations        4,387         66.2        1,009
        Other                        3,138         46.5        1,913
    Plastics and
      rubber products                8,594        161.2        3,103
    Nonmetallic mineral
      products                       8,993        165.7        1,460
    Primary and
      fabricated metals             12,429        211.7        5,588
        Primary metals               7,087        103.1        3,393
        Fabricated metal
          products                   5,342        108.6        2,206
    Machinery                       18,699        309.9        8,572
        Agriculture, construc-
          tion, and mining
          machinery                  2,753         49.4        2,104
        Industrial machinery         2,131         32.7        1,310
        Other                       13,815        227.8        5,159
    Computers and
      electronic products           19,407        256.6       17,421
        Computers and peri-
          pheral equipment           1,707         26.6        2,386
        Communications
          equipment                  8,083         72.5        4,682
        Audio and video
          equipment                    915         13.3          (D)
        Semiconductors and
          other electronic
          components                 5,102         83.4        6,224
        Navigational,
          measuring, and other
          instruments                3,177         49.8          (D)
        Magnetic and optical
          media                        425         11.0           27
    Electrical equipment,
      appliances, and
      components                    11,731        198.8        6,060
     Transportation equipment       25,157        389.2       29,788
        Motor vehicles, bodies
          and trailers, and
          parts                     22,180        339.6       27,386
        Other                        2,977         49.7        2,401
    Furniture and
      related products                 327         14.6          105
    Miscellaneous
      manufacturing                  2,228         44.7        1,128
Wholesale trade                     41,671        596.6       58,099
    Motor vehicles and
      motor vehicle parts
      and supplies                   4,692         56.5        2,720
    Professional and
      commercial equipment
      and supplies                   5,146         80.8        4,697
    Electrical goods                 9,145        108.2        9,493
    Other durable goods              6,974        123.6       10,258
    Petroleum and
      petroleum products             5,648         72.9       13,514
    Other nondurable
      goods                         10,067        154.7       17,416
Retail trade                        20,024        776.5        1,443
    Food and beverage
      stores                        10,759        444.9            3
    Other                            9,265        331.6        1,439
Information                         21,270        307.4          (D)
    Publishing industries            8,007        101.9          467
    Motion picture and
      sound recording
      industries                     1,712         37.6          165
    Broadcasting and
      telecommunications             6,440         94.2          (D)
        Broadcasting, cable
          networks, and
          program distribution       1,420         17.8            0
        Telecommunications           5,020         76.4          (D)
    Information services
      and data processing
      services                       5,112         73.7          (D)
Finance (except depository
  Institutions) and
  Insurance                         36,503        336.5          (*)
    Finance, except depo-
      sitory institutions           21,147        133.8          (*)
    Insurance carriers
      and related activities        15,356        202.7            0
Real estate and rental
  and leasing                        2,730         44.6          (D)
    Real estate                      1,358         19.8            4
    Rental and leasing
      (except real estate)           1,372         24.7          (D)
Professional, scientific,
  and technical services            14,208        202.4          405
    Architectural, enginee-
      ring, and related
      services                       2,687         45.7          311
    Computer systems
      design and related
      services                       3,487         43.1           56
    Management, scienti-
      fic, and technical
      consulting                     2,654         41.3            1
    Other                            5,381         72.2           38
Other industries                    53,244      1,538.1        3,370
    Agriculture,
      forestry, fishing and
      hunting                         610          14.0          338
    Mining                          5,113          63.2        2,373
    Utilities                       2,114          27.0          (D)
    Construction                    5,810          91.2          140
    Transportation and
      warehousing                   8,731         248.0          (D)
    Management of
      nonbank companies
      and enterprises                 402           3.4          (*)
    Administration,
      support, and waste
      management                   15,821         573.1           26
    Health care and
      social assistance             3,594          89.2          231
    Accommodation and
      food services                 8,498         359.6          (*)
        Accommodation               3,153         108.7          (*)
        Food services and
          drinking places           5,344         250.9            0
    Miscellaneous
      services                      2,551          69.5           25

                                  Millions of
                                    dollars

                                  U.S. imports
                                    of goods
                                   shipped to
                                   affiliates

                                      (10)

      All Industries                369,488
Manufacturing                       144,995
    Food                              3,953
    Beverages and
      tobacco products                  718
    Textiles, apparel,
      and leather products            2,044
    Wood products                       699
    Paper                               614
    Printing and related
      support activities                669
    Petroleum and coal
      products                       12,317
    Chemicals                        20,704
        Basic chemicals               3,531
        Resins and synthetic
          rubber, fibers, and
          filaments                   2,906
        Pharmaceuticals and
          medicines                  11,936
        Soap, cleaning
          compounds, and
          toilet preparations           615
        Other                         1,717
    Plastics and
      rubber products                 4,714
    Nonmetallic mineral
      products                        2,233
    Primary and
      fabricated metals               8,525
        Primary metals                6,799
        Fabricated metal
          products                    1,725
    Machinery                         8,773
        Agriculture, construc-
          tion, and mining
          machinery                   2,556
        Industrial machinery          1,680
        Other                         4,537
    Computers and
      electronic products            24,184
        Computers and peri-
          pheral equipment            6,033
        Communications
          equipment                   5,909
        Audio and video
          equipment                     (D)
        Semiconductors and
          other electronic
          components                  6,569
        Navigational,
          measuring, and other
          instruments                   910
        Magnetic and optical
          media                         (D)
    Electrical equipment,
      appliances, and
      components                      3,056
    Transportation equipment         50,651
        Motor vehicles, bodies
          and trailers, and
          parts                      48,008
        Other                         2,643
    Furniture and
      related products                  108
    Miscellaneous
      manufacturing                   1,031
Wholesale trade                     213,468
    Motor vehicles and
      motor vehicle parts
      and supplies                   79,576
    Professional and
      commercial equipment
      and supplies                   18,884
    Electrical goods                 39,824
    Other durable goods              27,397
    Petroleum and
      petroleum products             24,530
    Other nondurable
      goods                          23,258
Retail trade                          5,114
    Food and beverage
      stores                            340
    Other                             4,774
Information                             242
    Publishing industries               (D)
    Motion picture and
      sound recording
      industries                        (D)
    Broadcasting and
      telecommunications                  2
        Broadcasting, cable
          networks, and
          program distribution            0
        Telecommunications                2
    Information services
      and data processing
      services                            4
Finance (except depository
  Institutions) and
  Insurance                               4
    Finance, except depo-
      sitory institutions                 4
    Insurance carriers
      and related activities              0
Real estate and rental
  and leasing                           455
    Real estate                          34
    Rental and leasing
      (except real estate)              421
Professional, scientific,
  and technical services                313
    Architectural, enginee-
      ring, and related
      services                          (D)
    Computer systems
      design and related
      services                          (D)
    Management, scienti-
      fic, and technical
      consulting                          0
    Other                                44
Other industries                      4,897
    Agriculture,
      forestry, fishing and
      hunting                           162
    Mining                              513
    Utilities                         3,827
    Construction                         62
    Transportation and
      warehousing                        14
    Management of
      nonbank companies
      and enterprises                     2
    Administration,
      support, and waste
      management                          1
    Health care and
      social assistance                 304
    Accommodation and
      food services                       3
        Accommodation                     3
        Food services and
          drinking places                 0
    Miscellaneous
      services                            9

* Less than $500,000.

(D) Suppressed to avoid disclosure of data of individual companies

NOTE. Estimates for 2001 are preliminary.

Table 11.1 Selected Data of Nonbank U.S. Affiliates by Country of
Ultimate Beneficial Owner, 2000

                                          Millions of dollars

                                                             Expendi-
                                                Gross       tures for
                                              property,     property,
                                   Total      plant, and    plant, and
                                  assets      equipment     equipment

                                    (1)          (2)           (3)

      All countries              4,893,942     1,175,628       149,131
Canada                             439,527       103,684         9,834
    Europe                       3,320,104       731,385        97,144
    Austria                          9,346         1,677           172
    Belgium                         35,399        11,435           994
    Denmark                         10,547         3,373           291
    Finland                         16,481         7,641         1,234
    France                         483,679       120,767        17,736
    Germany                        578,863       153,630        24,910
    Ireland                         24,063        10,294           698
    Italy                           36,123        11,772         1,110
    Liechtenstein                      728           438            40
    Luxembourg                       3,831         2,251           214
    Netherlands                    586,538       100,941         8,358
    Norway                           7,740         3,073           492
    Spain                            6,757         2,471           522
    Sweden                          66,739        13,367         1,996
    Switzerland                    697,514        37,318         4,526
    United Kingdom                 750,566       248,688        33,704
    Other                            5,189         2,248           146
Latin America and Other
  Western Hemisphere               143,642        48,671         5,724
    South and Central America       37,864        18,772         1,207
      Brazil                         3,217         1,667           120
      Mexico                        19,470         6,460           629
      Panama                         1,729         1,222            84
      Venezuela                     12,033         8,974           309
      Other                          1,415           449            65
    Other Western Hemisphere       105,778        29,900         4,517
      Bahamas                        1,011           651           (D)
      Bermuda                       58,971        19,763         2,596
      Netherlands Antilles           6,324         3,802           (D)
      United Kingdom Islands,
        Caribbean                   39,289         5,578         1,229
      Other                            182           106            12
Africa                              11,512         2,514           233
    South Africa                    10,449         1,986           189
    Other                            1,064           528            44
Middle East                         29,754        11,492         1,072
    Israel                           4,277           977            68
    Kuwait                           2,050         1,868            32
    Lebanon                          1,263         1,212            69
    Saudi Arabia                    17,061         3,986           541
    United Arab Emirates             2,782         2,333           186
    Other                            2,321         1,115           176
Asia and Pacific                   703,036       246,270        30,194
    Australia                       68,482        17,802         2,740
    China                            1,111           616            41
    Hong Kong                       28,733         9,759         2,090
    Indonesia                          481           350            14
    Japan                          557,173       190,143        22,749
    Korea, Republic of              15,625         6,788           702
    Malaysia                         1,747           901            80
    New Zealand                        742            80            12
    Philippines                        283           192            18
    Singapore                       12,219         7,011           685
    Taiwan                          14,867        11,351         1,014
    Other                            1,574         1,277            48
United States                      246,367        31,612         4,930
Addenda:
    European Union (15) (1)      2,611,826       690,013        92,031
    OPEC (2)                        35,291        17,649         1,103

                                       Millions of dollars

                                               Net       Gross
                                   Sales      income    product

                                    (4)        (5)        (6)

      All countries              2,334,692    34,593    516,664
Canada                             171,745    -1,671     41,196
    Europe                       1,417,127    28,070    344,720
    Austria                          3,983      -371        317
    Belgium                         22,897       265      5,641
    Denmark                          6,881        42      1,366
    Finland                         17,210        44      3,243
    France                         195,304     1,901     55,413
    Germany                        319,583     3,117     55,257
    Ireland                         16,953       274      5,688
    Italy                           22,304      -832      4,866
    Liechtenstein                      976         6        270
    Luxembourg                       4,158       164        732
    Netherlands                    256,375     5,053     47,728
    Norway                          12,210        88      1,673
    Spain                            4,159         4        843
    Sweden                          42,504      -235     11,052
    Switzerland                    126,434     3,434     41,951
    United Kingdom                 359,302    15,146    108,337
    Other                            5,892       -31        343
Latin America and Other
  Western Hemisphere               104,999      -879     26,213
    South and Central America       54,329       639     10,291
      Brazil                         5,956        70        579
      Mexico                        16,327        27      2,937
      Panama                         1,247        20        529
      Venezuela                     29,217       553      6,111
      Other                          1,582       -31        135
    Other Western Hemisphere        50,670    -1,518     15,921
      Bahamas                          981      -321        (D)
      Bermuda                       35,714      -805     11,799
      Netherlands Antilles           4,203        92        (D)
      United Kingdom Islands,
        Caribbean                    9,588      -482      1,750
      Other                            184        -2         83
Africa                               5,175       150      1,090
    South Africa                     4,852       189      1,045
    Other                              323       -39         45
Middle East                         15,877       502      3,116
    Israel                           2,736      -256        439
    Kuwait                             693        10        207
    Lebanon                            765       132        313
    Saudi Arabia                     8,833       374        911
    United Arab Emirates               568       232        334
    Other                            2,281        10        912
Asia and Pacific                   578,095     3,285     88,863
    Australia                       30,756       -11      7,513
    China                            1,154        -1        239
    Hong Kong                        8,547    -2,020        502
    Indonesia                          474       -17        140
    Japan                          479,937     5,803     73,289
    Korea, Republic of              34,259       137      2,767
    Malaysia                         1,135       -27        332
    New Zealand                      1,464        18        134
    Philippines                        143        10         35
    Singapore                        5,535        19      1,486
    Taiwan                          13,678      -595      2,209
    Other                            1,013       -32        217
United States                       41,674     5,136     11,465
Addenda:
    European Union (15) (1)      1,273,417    24,587    300,649
    OPEC (2)                        40,002     1,153      7,747

                                 Millions                  Millions of
                                    of                       dollars
                                  dollars
                                                           U.S. exports
                                 Compensa-    Thousands      of goods
                                  tion of        of         shipped by
                                 employees    employees     affiliates

                                    (7)          (8)           (9)

      All countries               332,164      6,524.6       164,673
Canada                             33,769        672.5         9,239
    Europe                        222,328      4,427.7        88,527
    Austria                           697         13.5           325
    Belgium                         3,703        154.8           (D)
    Denmark                         1,053         19.2           555
    Finland                         2,387         40.4         1,446
    France                         38,682        654.8        15,670
    Germany                        42,578        728.4        31,976
    Ireland                         3,602         68.0           (D)
    Italy                           3,753         89.8         1,612
    Liechtenstein                     199          3.7            76
    Luxembourg                        316         10.2           482
    Netherlands                    25,402        614.5         7,334
    Norway                          1,366         33.4           (D)
    Spain                             592         14.0           206
    Sweden                          8,837        234.3         4,087
    Switzerland                    32,765        563.7         6,020
    United Kingdom                 56,130      1,177.4        16,929
    Other                             267          7.5            47
Latin America and Other
  Western Hemisphere               13,932        277.4         9,266
    South and Central America       3,581         80.0         3,267
      Brazil                          308          5.3           (D)
      Mexico                        2,110         57.0           (D)
      Panama                          432          6.9           126
      Venezuela                       604          7.6           403
      Other                           127          3.2           129
    Other Western Hemisphere       10,351        197.3         6,000
      Bahamas                         (D)            I           (D)
      Bermuda                       7,187        135.8           (D)
      Netherlands Antilles            (D)            J           (D)
      United Kingdom Islands,
        Caribbean                   1,411         34.2           (D)
      Other                            38          0.9             7
Africa                                669         10.6           532
    South Africa                      627          9.4           484
    Other                              42          1.1            48
Middle East                         2,162         52.5           754
    Israel                            558         10.2           277
    Kuwait                             60          1.8           (D)
    Lebanon                           162          3.9             8
    Saudi Arabia                      573         16.9           (D)
    United Arab Emirates               79          1.9            79
    Other                             730         17.8           (D)
Asia and Pacific                   55,275      1,020.1        54,361
    Australia                       4,557         79.9         1,413
    China                             166          2.5           670
    Hong Kong                         942         34.5           (D)
    Indonesia                         112          2.9             4
    Japan                          45,519        827.7        43,871
    Korea, Republic of              1,222         17.8         6,396
    Malaysia                          287          5.8           (D)
    New Zealand                        72          1.7            64
    Philippines                        15          0.5             3
    Singapore                         940         16.5           367
    Taiwan                          1,269         24.7         1,404
    Other                             171          5.6            17
United States                       4,029         63.9         1,994
Addenda:
    European Union (15) (1)       187,849      3,823.7        81,924
    OPEC (2)                        1,462         31.6           796

                                 Millions of dollars

                                    U.S. imports
                                      of goods
                                     shipped to
                                     affiliates

                                        (10)

      All countries                    372,164
Canada                                  21,151
    Europe                             149,530
    Austria                                804
    Belgium                              1,276
    Denmark                              1,006
    Finland                              3,048
    France                              16,949
    Germany                             58,156
    Ireland                                209
    Italy                                3,567
    Liechtenstein                          302
    Luxembourg                             (D)
    Netherlands                            (D)
    Norway                               1,434
    Spain                                  688
    Sweden                               4,816
    Switzerland                          8,519
    United Kingdom                      24,049
    Other                                  955
Latin America and Other
  Western Hemisphere                    21,037
    South and Central America           17,368
      Brazil                             2,511
      Mexico                             3,308
      Panama                               109
      Venezuela                         10,590
      Other                                851
    Other Western Hemisphere             3,669
      Bahamas                               43
      Bermuda                            1,582
      Netherlands Antilles                  92
      United Kingdom Islands,
        Caribbean                        1,947
      Other                                  4
Africa                                     269
    South Africa                           239
    Other                                   30
Middle East                              1,717
    Israel                                 857
    Kuwait                                 (D)
    Lebanon                                  5
    Saudi Arabia                           (D)
    United Arab Emirates                   (D)
    Other                                  230
Asia and Pacific                       177,174
    Australia                            1,246
    China                                   98
    Hong Kong                            1,436
    Indonesia                               34
    Japan                              151,152
    Korea, Republic of                  19,212
    Malaysia                                23
    New Zealand                            699
    Philippines                             45
    Singapore                              750
    Taiwan                               2,448
    Other                                   29
United States                            1,287
Addenda:
    European Union (15) (1)            138,331
    OPEC (2)                            11,249

(D) Suppressed to avoid disclosure of data of individual companies.

(1.) The European Union (15) comprises Austria, Belgium, Dnemark,
Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the
Netherlands, Portugal, Spain, Sweden, and the United Kingdom.

(2.) OPEC is the Organization of Petroleum Exporting Countries. Its
members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria,
Qatar, Saudi Arabia, the United Arab Emirates, and Venezuela.

NOTES: Size ranges are given in employment cells that are suppressed.
The size ranges are: A--1 to 499; F--500 to 999; G--1,000 to 2,499;
H--2,500 to 4,999; I--5,000 to 9,999; J--10,000 to 24,999: K--25,000 to
49,999; L--50,000 to 99,999; M--100,000 or more.

Estimates for 2000 are revised.

Table 11.2 Selected Data of Nonbank U.S. Affiliates by Country of
Ultimate Beneficial Owner, 2001

                                          Millions of dollars

                                                             Expendi-
                                                Gross       tures for
                                              property,     property,
                                   Total      plant, and    plant, and
                                  assets      equipment     equipment

                                    (1)          (2)           (3)

      All countries              5,466,000     1,200,064       144,139
Canada                             385,328       104,356        10,270
    Europe                       3,732,776       725,027        86,615
    Austria                          4,622         1,717           191
    Belgium                         40,370        11,146           911
    Denmark                         13,888         3,227           380
    Finland                         16,729         8,197           746
    France                         534,536        84,818        10,505
    Germany                        687,828       180,205        25,874
    Ireland                         23,899        10,577           616
    Italy                           36,919        12,060         1,176
    Liechtenstein                      745           452            41
    Luxembourg                       7,446         3,108           235
    Netherlands                    620,025        96,317         9,274
    Norway                           7,748         3,010           308
    Spain                            7,872         2,594           199
    Sweden                          65,477        14,590         1,674
    Switzerland                    818,244        41,239         4,458
    United Kingdom                 841,184       249,271        29,838
    Other                            5,245         2,499           188
Latin America and Other
  Western Hemisphere               250,890        68,353         9,978
    South and Central America       47,577        25,634         2,186
      Brazil                         2,939         1,722           163
      Mexico                        29,957        12,738         1,287
      Panama                         1,750         1,253            87
      Venezuela                     11,815         9,453           582
      Other                          1,116           469            67
    Other Western Hemisphere       203,314        42,719         7,792
      Bahamas                        1,160           692           (D)
      Bermuda                      149,960        31,794         5,832
      Netherlands Antilles           7,557         4,317           (D)
      United Kingdom Islands,
        Caribbean                   44,411         5,774           920
      Other                            226           143           (D)
Africa                               8,145         3,455           257
    South Africa                     7,034         2,931           227
    Other                            1,111           523            29
Middle East                         25,621        19,376         1,512
    Israel                           3,961         1,096           143
    Kuwait                           1,872         1,756           122
    Lebanon                          1,259         1,225            85
    Saudi Arabia                    13,604        11,830           778
    United Arab Emirates             2,880         2,424           235
    Other                            2,046         1,044           150
Asia and Pacific                   656,210       241,133        29,684
    Australia                       68,610        19,261         3,013
    China                            1,500           776            60
    Hong Kong                        9,040         5,698           610
    Indonesia                          208           133            22
    Japan                          536,435       189,660        23,678
    Korea, Republic of              14,742         6,977           825
    Malaysia                         1,706           918            79
    New Zealand                        678            97            10
    Philippines                        285           192            18
    Singapore                        6,207         4,593           380
    Taiwan                          15,077        11,504           940
    Other                            1,723         1,324            50
United States                      407,029        38,364         5,823
Addenda:
    European Union (15) (1)      2,903,404       679,725        81,739
    OPEC (2)                        31,268        25,735         1,760

                                       Millions of dollars

                                                Net       Gross
                                   Sales      income     product

                                    (4)         (5)        (6)

      All countries              2,354,136    -42,902    486,553
Canada                             156,413    -18,848     34,648
    Europe                       1,389,403    -18,654    308,241
    Austria                          3,363       -407        500
    Belgium                         25,410        230      6,226
    Denmark                          7,171       -122      1,300
    Finland                         18,139       -541      3,540
    France                         188,096     -5,085     39,975
    Germany                        313,897    -12,786     50,180
    Ireland                         17,656        -48      5,762
    Italy                           22,967       -779      5,389
    Liechtenstein                      956         -3        276
    Luxembourg                       4,240        308       1029
    Netherlands                    244,594      1,964     44,685
    Norway                           9,689       -159      1,477
    Spain                            4,679       -328        769
    Sweden                          41,001       -852     10,494
    Switzerland                    127,686     -4,425     36,080
    United Kingdom                 353,895      4,474    100,338
    Other                            5,966        -96        472
Latin America and Other
  Western Hemisphere               138,681     -7,725     33,724
    South and Central America       64,180        -89     13,893
      Brazil                         6,093        -16        497
      Mexico                        29,809       -825      6,303
      Panama                         1,194         -9        510
      Venezuela                     25,635        794      6,445
      Other                          1,449        -34        138
    Other Western Hemisphere        74,501     -7,635     19,831
      Bahamas                          973       -348        277
      Bermuda                       57,834     -7,353     14,079
      Netherlands Antilles             (D)        (D)      3,383
      United Kingdom Islands,
        Caribbean                      (D)        (D)      2,002
      Other                            (D)        (D)         91
Africa                               5,559         22      1,126
    South Africa                     5,297         39      1,090
    Other                              262        -16         37
Middle East                         32,251        928      8,819
    Israel                           2,876       -383        412
    Kuwait                             624         48        220
    Lebanon                            754        106        307
    Saudi Arabia                    25,585      1,106      6,782
    United Arab Emirates               569         97        320
    Other                            1,842        -46        778
Asia and Pacific                   576,886     -5,424     87,368
    Australia                       31,243     -3,601      8,251
    China                            2,126        -16        417
    Hong Kong                        7,713        -51      1,462
    Indonesia                          202         18         54
    Japan                          481,598         99     71,663
    Korea, Republic of              31,420       -642      1,723
    Malaysia                         1,261        -79        348
    New Zealand                      1,506        -47         80
    Philippines                        136          8         35
    Singapore                        5,164       -346        891
    Taiwan                          13,341       -711      2,156
    Other                            1,177        -55        288
United States                       54,944      6,798     12,627
Addenda:
    European Union (15) (1)      1,246,772    -14,036    270,131
    OPEC (2)                        52,829      2,052     13,856

                                 Millions                  Millions of
                                    of                       dollars
                                  dollars
                                                           U.S. exports
                                 Compensa-    Thousands      of goods
                                  tion of        of         shipped by
                                 employees    employees     affiliates

                                    (7)          (8)           (9)

      All countries               350,575      6,371.9       163,641
Canada                             30,818        562.2         9,497
    Europe                        230,967      4,251.0        86,263
    Austria                           701         12.8           328
    Belgium                         4,080        145.6           580
    Denmark                         1,124         17.9           474
    Finland                         2,899         48.7         1,527
    France                         33,733        578.6        16,011
    Germany                        50,147        734.8        30,173
    Ireland                         3,774         66.9           662
    Italy                           4,220        101.3         1,503
    Liechtenstein                     212          3.6            75
    Luxembourg                        342          8.7           458
    Netherlands                    26,520        571.9         6,717
    Norway                          1,330         20.8           451
    Spain                             730         14.8           175
    Sweden                          9,070        248.8         3,866
    Switzerland                    33,427        546.8         7,216
    United Kingdom                 58,283      1,120.7        15,985
    Other                             374          8.2            62
Latin America and Other
  Western Hemisphere               23,812        456.3        10,587
    South and Central America       6,086        166.1         3,255
      Brazil                          314          5.1           (D)
      Mexico                        4,530        143.8           (D)
      Panama                          443          6.6           127
      Venezuela                       676          7.7           343
      Other                           122          2.9           127
    Other Western Hemisphere       17,727        290.1         7,332
      Bahamas                         241          6.4            22
      Bermuda                      13,856        225.4         6,293
      Netherlands Antilles          1,971         22.6           (D)
      United Kingdom Islands,
        Caribbean                   1,614         34.8           (D)
      Other                            45          0.9             8
Africa                                750         11.0           639
    South Africa                      711         10.0           589
    Other                              39          1.1            50
Middle East                         2,599         48.2           846
    Israel                            583          9.3           293
    Kuwait                             50          1.3           (D)
    Lebanon                           161          3.6             8
    Saudi Arabia                    1,045         17.9           (D)
    United Arab Emirates               77          1.8            81
    Other                             684         14.2            80
Asia and Pacific                   56,428        965.1        54,017
    Australia                       4,767         80.4         1,715
    China                             331          5.9           797
    Hong Kong                         854         20.8           217
    Indonesia                          21          0.7             5
    Japan                          46,390        786.8        43,725
    Korea, Republic of              1,165         15.7         5,779
    Malaysia                          322          5.8            62
    New Zealand                        80          1.7            60
    Philippines                        17          0.5             3
    Singapore                         901         16.1           271
    Taiwan                          1,328         23.8         1,369
    Other                             251          6.9            14
United States                       5,200         78.1         1,792
Addenda:
    European Union (15) (1)       195,786      3,676.1        78,467
    OPEC (2)                        1,903         29.8           813

                                 Millions of dollars

                                    U.S. imports
                                      of goods
                                     shipped to
                                     affiliates

                                        (10)

      All countries                    369,488
Canada                                  16,596
    Europe                             145,454
    Austria                                709
    Belgium                              1,096
    Denmark                                966
    Finland                              2,650
    France                              19,154
    Germany                             55,981
    Ireland                                205
    Italy                                4,107
    Liechtenstein                          291
    Luxembourg                           1,692
    Netherlands                         16,496
    Norway                               1,371
    Spain                                  773
    Sweden                               4,171
    Switzerland                          8,461
    United Kingdom                      26,366
    Other                                  965
Latin America and Other
  Western Hemisphere                    18,547
    South and Central America           14,902
      Brazil                             2,532
      Mexico                             3,409
      Panama                                64
      Venezuela                            (D)
      Other                                (D)
    Other Western Hemisphere             3,646
      Bahamas                               34
      Bermuda                            1,937
      Netherlands Antilles                 111
      United Kingdom Islands,
        Caribbean                        1,555
      Other                                  8
Africa                                     254
    South Africa                           247
    Other                                    7
Middle East                              7,801
    Israel                                 (D)
    Kuwait                                   7
    Lebanon                                  4
    Saudi Arabia                           (D)
    United Arab Emirates                    55
    Other                                  150
Asia and Pacific                       179,590
    Australia                            1,328
    China                                  308
    Hong Kong                            1,555
    Indonesia                                3
    Japan                              153,342
    Korea, Republic of                  19,253
    Malaysia                                21
    New Zealand                            714
    Philippines                             44
    Singapore                              607
    Taiwan                               2,356
    Other                                   29
United States                            1,245
Addenda:
    European Union (15) (1)            134,383
    OPEC (2)                            14,754

(D) Suppressed to avoid disclosure of data of individual companies.

(1.) The European Union (15) comprises Austria, Belgium, Denmark
Finland, France, Germany, Greece, Ireland, Italy, Luxembourg, the
Netherlands, Portugal, Spain, Sweden, and the United Kingdom.

(2.) OPEC is the Organization of Petroleum Exporting Countries. Its
members are Algeria, Indonesia, Iran, Iraq, Kuwait, Libya, Nigeria,
Qatar, Saudi Arabia, the United Arab Emireles, and Venezuela.

NOTES. Estimates for 2001 are preliminary.

Chart 2. Investing-Country Shares of the Gross
Product of All Nonbank U.S. Affiliates, 2001

Percent

Canada           (7.1%)
France           (8.2%)
Germany          (10.3%)
Japan            (14.7%)
Netherlands      (9.2%)
Switzerland      (7.4%)
United Kingdom   (20.6%)
Other            (22.4%)

Acknowledgments

The 2001 annual survey of foreign direct investment in the United States was conducted under the supervision of Joseph E Cherry III, with contributions by Chester C. Braham, Erica Carson-Brown, Hien X. Dang, Constance T. Deve, Charles R. Gravitz, Lonnie Hunter, Kristina Kaminski, Edna A. Ludden, Betty K. Maddy, Isabel L. McConnell, Demetria A. McCormick, Gregory L. McCormick, Sidney A. Moskowitz, Joseph N. Poist III, Clarence D. Smith, Marie P. Smith, John R. Starnes, and Christopher J. Stein.

Computer programming for data estimation and the generation of data tables was provided by Diane Young and Neeta Kapoor.

(1.) The estimates of gross product of U.S. affiliates are conceptually consistent with those of total U.S. GDP, or gross product originating, by industry (see the box "Key Terms"). For gross product and for the other data items on affiliate operations, the estimates cover the operations of each affiliate irrespective of the percentage of foreign ownership. All of the estimates are on a fiscal year basis; an individual affiliate's fiscal year 2001 is its financial reporting year that ended in calender year 2001.

The estimates of gross product and the other data items for affiliate operations for 2001 are preliminary. The estimates for 2000 are revised; for most of the key data items, the revisions to the totals ranged from--0.4 percent to 1.5 percent.

(2.) According to data from BEA's survey of new foreign investments, outlays by foreign direct investors to acquire or establish businesses in the United States fell from a record $335.6 billion in 2000 to $147.1 billion in 2001 (these outlays continued to decline in 2002, to $52.6 billion, which was the lowest level since 1994); see Thomas W. Anderson, "Foreign Direct Investment in the United States: New Investment in 2002," SURVEY OF CURRENT BUSINESS 83 (June 2003): 55-62.

(3.) For the U.S. economy as a whole, the current-dollar value of gross product in manufacturing decreased 6 percent in 2001; however, manufacturing accounted for less than a fifth of total private-industry gross product. See table 1 in Robert J. McCahill and Brian C. Moyer, "Gross Domestic Product by Industry for 1999-2001," SURVEY 82 (November 2002): 32.

(4.) Because U.S. affiliates tend to be concentrated in less labor-intensive sectors of the economy (such as manufacturing), their share of U.S. employment has consistently been lower than their share of U.S. gross product.

(5.) Because of the presumption of foreign control, majority ownership is viewed by many as the preferred basis for selecting firms for the analysis of the role of foreign multinational enterprises in host-country production, employment, and trade. For an extensive discussion of the concepts of foreign ownership and control, see Robert E. Lipsey, "Foreign Direct Investment and the Operations of Multinational Firms: Concepts, History, and Data" in Handbook of International Trade, ed. Kwan Choi and James Harrigan (Oxford, United Kingdom: Basil Blackwell, 2003).

(6.) Affiliates' shares of exports and imports have consistently been much larger than their shares of GDP and employment because of the high trade orientation of affiliates in manufacturing and wholesale trade.

(7.) The rate of change in U.S. private-industry GDP serves as a convenient benchmark against which the increase in U.S.-affiliate gross product can be evaluated. However, the two growth rates are not strictly comparable, because the growth rate of U.S. affiliate gross product partly reflects transfers in ownership that do not represent increased production for the whole economy. Similarly, changes in U.S.-affiliate employment, exports, and imports partly reflect changes in ownership and so are not strictly comparable with the corresponding changes for the whole economy.

(8.) For majority-owned affiliates, the top three rankings were the same as those for all nonbank affiliates.

(9.) Outlays by British direct investors to acquire or establish businesses in the United States decreased 85 percent, from $110 billion in 2000 to $17 billion in 2001. See table 4 in Anderson, "New Investment in 2002" 57.

(10.) Each U.S. affiliate is classified in the industry that accounts for the largest portion of its sales. Many U.S. affiliates are involved in a variety of business activities; changes in the mix of these activities will cause an affiliate's industry classification to change when the changes are expected to be sustained.

(11.) It should be noted that while the U.S. affiliate in an inverted corporate structure is owned by a foreign parent company, that company, in turn, generally is largely or wholly owned by U.S. persons--namely, the U.S. affiliate's former stockholders. (In an inversion, a U.S. corporation's stockholders typically exchange their stock in the corporation for stock in a newly created foreign corporation, which then becomes the owner of the U.S. corporation. Often, ownership of any foreign affiliates of the U.S. corporation would also be transferred to the new foreign corporation, largely to shelter the earnings of the affiliates from U.S. taxes.)

(12.) The estimates of shares are based on employment data by industry of sales; this basis approximates the establishment-based disaggregation of the corresponding data for all U.S. businesses. See the box "Using Employment Data to Estimate Affiliate Shares of the U.S. Economy by Industry?"

(13.) Data are available for industries defined according to the North American Industry Classification System (NAICS) beginning in 1997. On a NAICS basis, the affiliate share of employment in manufacturing had increased every year since 1997, from 12.4 percent in 1997 to 14.1 percent in 2000, before decreasing in 2001. (For years prior to 1997, the definition of manufacturing used to classify data by industry is based on the Standard Industrial Classification rather than NAICS, so the shares for those years are not comparable with the shares for 1997 forward.)

Key Terms

The following key terms are used to describe U.S. affiliates of foreign companies and their operations.

US. affiliate. A U.S. business enterprise in which there is foreign direct investment--that is, in which a single foreign person owns or controls, directly or indirectly, 10 percent or more of the voting securities of an incorporated U.S. business enterprise or an equivalent interest in an unincorporated U.S. business enterprise. "Persons" is broadly defined to include any individual, corporation, branch, partnership, associated group, association, estate, trust, or other organization and any government (including any corporation, institution, or other entity or instrumentality of a government). A "foreign person" is any person that resides outside the United State--that is, outside the 50 States, the District of Columbia, the Commonwealth of Puerto Rico, and all U.S. territories and possessions.

Majority-owned U.S. affiliate. A U.S. affiliate that is owned more than 50 percent by foreign direct investors.

Foreign parent. The first person outside the United States in a U.S. affiliate's ownership chain that has a direct investment interest in the affiliate.

Ultimate beneficial owner (UBO). That person, proceeding up a U.S. affiliate's ownership chain, beginning with and including the foreign parent, that is not owned more than 50 percent by another person. Unlike the foreign parent, the UBO of an affiliate may be located in the United States. The UBO of each U.S. affiliate is identified to ascertain the person that ultimately owns or controls the U.S. affiliate and that therefore ultimately derives the benefits from ownership or control.

Foreign parent group. Consists of (1) the foreign parent, (2) any foreign person, proceeding up the foreign parent's ownership chain, that owns more than 50 percent of the person below it, up to and including the UBO, and (3) any foreign person, proceeding down the ownership chain(s) of each of these members, that is owned more than 50 percent by the person above it.

Gross product. The contribution to U.S. gross domestic product, which is the market value of the goods and services produced by labor and property located in the United States. Gross product, often referred to as "value added;' can be measured as gross output (sales or receipts and other operating income plus inventory change) minus intermediate inputs (purchased goods and services). Alternatively, it can be measured as the sum of the costs incurred (except for intermediate inputs) and the profits earned in production. The gross product estimates presented in this article were prepared by summing cost and profit data collected in the annual and benchmark surveys of foreign direct investment in the United States.

The estimates of gross product of U.S. affiliates are conceptually consistent with BEA's estimates of U.S. GDP by industry; both sets of estimates are measured as the sum of the costs incurred (except for intermediate inputs) and the profits earned in production. However, there are a few minor differences in measurement that are small relative to total affiliate gross product and thus have a negligible effect on the affiliate shares of private-industry GDP in table 1.

Data on Foreign Direct Investment in the United States

BEA collects three broad sets of data on foreign direct investment in the United States (FDIUS): (1) Financial and operating data of U.S. affiliates, (2) data on U.S. businesses newly acquired or established by foreign direct investors (new investment data), and (3) international transactions (balance of payments) and direct investment position data. This article presents the financial and operating data. The new investment data were published in "Foreign Direct Investment in the United States: New Investment in 2002" in the June 2003 issue of the SURVEY OF CURRENT BUSINESS. The international transactions and direct investment position data were published in the articles "The International Investment Position of the United States at Yearend 2002" "U.S. International Transactions, First Quarter 2003," and "Direct Investment Positions for 2002: Country and Industry Detail," in the July 2003 SURVEY.

Each of the three data sets focuses on a distinct aspect of FDI-US. The financial and operating data provide a picture of the overall activities of the U.S. affiliates; the new investment data provide information about U.S, businesses that are newly acquired or established by fore indirect investors, regardless of whether the invested funds were raised in the United States or abroad; and the international transactions and direct investment position data cover foreign investors' transactions with, and positions in, both new and existing U.S. affiliates. (l)

Financial and operating data of US. affiliates. The data on the overall operations of U.S. affiliates are collected in BEA's annual and benchmark surveys of FDIUS. (Benchmark surveys, which are BEA's most comprehensive surveys of foreign direct investment in terms of both coverage of companies and subject matter, are conducted once every 5 years.) The data cover U.S. affiliates' balance sheets and income statements, employment and compensation of employees, trade in goods, research and development expenditures, sources of finance, and selected data by state. In addition, the gross product of affiliates is estimated from data reported in these surveys.

Except in benchmark survey years, these data, unlike the new investment data, cover only nonbank affiliates. The financial and operating data for affiliates are on a fiscal year basis. The data cover the entire operations of the U.S. affiliate irrespective of the percentage of foreign ownership.

New investment data. The data on outlays by foreign direct investors to acquire or establish affiliates in the United States are collected on a calendar year basis in BEA's survey of new FDIUS. In addition, the new investment survey collects selected data on the operations of the newly acquired or established affiliates. For newly acquired affiliates, these data are for (or as of the end of) the most recent fiscal year preceding the acquisition, and for newly established businesses, they are projected for (or as of the end of) the first year of operation. The data cover the entire operations of the business irrespective of the percentage of foreign ownership.

International transactions and direct investment position data. These data are collected in the quarterly survey of FDIUS. The data cover the U.S. affiliate's transactions and positions with its foreign parent or other members of its foreign parent group, so these data focus on the foreign parent's share, or interest, in the affiliate rather than on the affiliate's overall size or level of operations. The major items included in the U.S. international transactions (balance of payments) accounts are direct investment financial flows, direct investment income, royalties and license fees, and other services transactions with the foreign parent group.

(1.) For a more detailed discussion of the differences between these three sets of data, see Alicia M. Quijano, "A Guide to BEA Sta6stics on Foreign Direct Investment in the United States," SURVEY 70 (February 1990): 29-37. This guide is available on BEA's Web site at <www.bea.gov/bea/ail.htm>.

For a comparison of the data on affiliate operations with the data on new investment, see the appendix "Sources of Data" in Mahnaz Fahim-Nader and William J. Zeile, "Foreign Direct Investment in the United States: New Investment in 1994 and Affiliate Operations in 1993," SURVEY 75 (May 1995): 68-70.

Using Employment Data to Estimate Affiliate Shares of the U.S. Economy by Industry

In this article, data on employment are used to estimate affiliate shares of the U.S. economy by North American Industry Classification System (NAICS) industry because these data can be disaggregated by industry of sales, a basis that approximates the disaggregation of the data for all U.S. businesses by industry of establishment. (1) Thus, the data on affiliate employment can be used to calculate the affiliate shares of the U.S. economy at a greater level of industry detail than can be calculated using the gross product estimates or other data, which can only be disaggregated on the basis of industry of affiliate. (2)

In the classification by industry of sales, the data on affiliate employment (and sales) are distributed among all of the industries in which the affiliate reports sales. As a result, employment classified by industry of sales should approximate that classified by industry of establishment (or plant), because an affiliate that has an establishment in an industry usually also has sales in that industry. (3)

In contrast, in the classification by industry of affiliate, all of the operations data (including the employment data) for an affiliate are assigned to that affiliate's "primary" industry--that is, the industry in which it has the most sales. (4) As a result, any affiliate operations that take place in secondary industries will be classified as operations in the primary industry.

(1.) The data for all U.S. businesses used to compute the affiliate shares of employment by NAICS industry are from the Census Bureau (see table 5, footnote 1).

(2.) Establishment-level data from a joint project of BEA and the Bureau of the Census can be used to calculate affiliate shares at an even greater level of detail. Affiliate shares based on establishment data for six-digit manufacturing and five-digit nonmanufacturing NAICS industries for 1997 are shown in Foreign Direct Investment in the United States: Establishment Data for 1997 (Washington, DC: U.S. Government Printing Office, March 2003) and on BEA's Web site at <www.bea.gov>. Similar data on a Standard Industrial Classification basis are available for both manufacturing and nonmanufacturing industries for 1987 and 1992 and for manufacturing industries only for 1988-91. The data for foreign-owned manufacturing establishments are analyzed in a number of SURVEY articles that can be accessed at BEA's Web site at www.bea.doc.gov/bea/ail.htm>.

(3.) However, this is not the case if one establishment of an affiliate pro rides all of its output to another establishment of that affiliate. For example, if an affiliate operates both a metal mine and a metal-manufacturing plant and if the entire output of the mine is used by the manufacturing plant, all of the affiliate's sales would be in metal manufacturing, and none, in metal mining. Thus, when the mining employment is distributed by industry of sales, all of it would be classified in manufacturing even though the industry of the establishment is mining.

(4.) An affiliate's primary industry is based on a breakdown of the affiliate's sales by BEA International Surveys Industry classification code.