Foreign direct investment, net outflows (% of GDP) - Country Ranking

Definition: Foreign direct investment refers to direct investment equity flows in an economy. It is the sum of equity capital, reinvestment of earnings, and other capital. Direct investment is a category of cross-border investment associated with a resident in one economy having control or a significant degree of influence on the management of an enterprise that is resident in another economy. Ownership of 10 percent or more of the ordinary shares of voting stock is the criterion for determining the existence of a direct investment relationship. This series shows net outflows of investment from the reporting economy to the rest of the world, and is divided by GDP.

Source: International Monetary Fund, Balance of Payments database, supplemented by data from the United Nations Conference on Trade and Development and official national sources.

See also: Thematic map, Time series comparison

Find indicator:
Rank Country Value Year
1 Cayman Islands 569.46 2017
2 Ireland 24.67 2018
3 Hong Kong SAR, China 15.44 2018
4 Singapore 9.98 2018
5 Switzerland 6.69 2018
6 Uruguay 5.60 2018
7 Togo 4.84 2018
8 France 4.54 2018
9 Thailand 4.05 2018
10 Germany 4.03 2018
11 Brunei 3.93 2015
12 Azerbaijan 3.75 2018
13 United Arab Emirates 3.64 2018
14 Japan 3.20 2018
15 Canada 3.07 2018
16 Saudi Arabia 2.92 2018
17 Sweden 2.60 2018
18 Liberia 2.58 2018
19 Korea 2.40 2018
20 Spain 2.31 2018
21 Slovak Republic 2.19 2018
22 Kuwait 2.11 2018
23 Luxembourg 1.94 2018
24 Montenegro 1.94 2018
25 Russia 1.89 2018
26 Lebanon 1.87 2018
27 Qatar 1.84 2018
28 Panama 1.83 2018
29 Finland 1.79 2018
30 Czech Republic 1.79 2018
31 Georgia 1.66 2018
32 Israel 1.65 2018
33 Malaysia 1.59 2018
34 Colombia 1.55 2018
35 Lithuania 1.52 2018
36 United Kingdom 1.51 2018
37 Bulgaria 1.47 2018
38 Lesotho 1.43 2012
39 Italy 1.33 2018
40 Grenada 1.29 2018
41 South Africa 1.23 2018
42 Philippines 1.19 2018
43 Cabo Verde 1.12 2018
44 Costa Rica 0.97 2018
45 The Bahamas 0.96 2018
46 Venezuela 0.94 2014
47 Honduras 0.90 2018
48 Oman 0.90 2018
49 Mexico 0.86 2018
50 Madagascar 0.85 2018
51 Slovenia 0.81 2018
52 Brazil 0.75 2018
53 Côte d'Ivoire 0.74 2018
54 Croatia 0.73 2018
55 Trinidad and Tobago 0.72 2018
56 China 0.71 2018
57 Serbia 0.71 2018
58 St. Lucia 0.69 2018
59 Barbados 0.67 2018
60 Namibia 0.65 2018
61 Chile 0.65 2018
62 Libya 0.65 2018
63 Botswana 0.65 2018
64 Solomon Islands 0.65 2018
65 Indonesia 0.61 2018
66 Mauritius 0.59 2018
67 Nicaragua 0.57 2018
68 Morocco 0.56 2018
69 São Tomé and Principe 0.56 2018
70 Antigua and Barbuda 0.53 2018
71 Algeria 0.51 2018
72 Cambodia 0.51 2018
73 Burkina Faso 0.49 2018
74 Niger 0.47 2018
75 Turkey 0.47 2018
76 Dem. Rep. Congo 0.44 2018
77 Palau 0.42 2018
78 India 0.42 2018
79 Romania 0.42 2018
80 Greece 0.41 2018
81 Norway 0.36 2018
82 Nigeria 0.35 2018
83 Argentina 0.35 2018
84 Suriname 0.33 2018
85 Mali 0.32 2018
86 Moldova 0.31 2018
87 Senegal 0.30 2018
88 Guatemala 0.30 2018
89 Bahrain 0.29 2018
90 New Zealand 0.27 2018
91 Austria 0.25 2018
92 Dominican Republic 0.24 2018
93 Vietnam 0.24 2018
94 Benin 0.23 2018
95 Mongolia 0.21 2018
96 Rwanda 0.19 2018
97 Kenya 0.19 2018
98 Zambia 0.17 2018
99 Bosnia and Herzegovina 0.16 2018
100 Australia 0.16 2018
101 Egypt 0.13 2018
102 Vanuatu 0.13 2018
103 Paraguay 0.13 2018
104 Ghana 0.12 2018
105 Denmark 0.12 2018
106 Congo 0.12 2018
107 Poland 0.12 2018
108 Ukraine 0.09 2018
109 Portugal 0.09 2018
110 Zimbabwe 0.09 2018
111 Tunisia 0.09 2018
112 Iraq 0.08 2018
113 Jamaica 0.08 2018
114 Malawi 0.08 2018
115 Guinea-Bissau 0.08 2018
116 Sri Lanka 0.08 2018
117 Mauritania 0.07 2018
118 Belarus 0.07 2018
119 Kiribati 0.06 2018
120 Armenia 0.06 2018
121 Belize 0.04 2018
122 Afghanistan 0.03 2018
123 Iceland 0.02 2018
124 Iran 0.02 2017
125 Yemen 0.01 2018
126 Peru 0.01 2018
127 Dominica 0.01 2018
128 Bangladesh 0.01 2018
129 Angola 0.01 2018
130 Syrian Arab Republic 0.01 2007
131 Samoa 0.00 2018
132 Uzbekistan 0.00 2018
133 Pakistan 0.00 2018
134 Uganda 0.00 2018
135 Guyana 0.00 2018
136 Lao PDR 0.00 2018
137 Burundi 0.00 2018
138 Turkmenistan 0.00 2017
138 Central African Republic 0.00 2015
138 Tanzania 0.00 2017
138 Haiti 0.00 2018
138 Somalia 0.00 2017
138 Nauru 0.00 2015
138 Timor-Leste 0.00 2018
138 Tuvalu 0.00 2017
138 Equatorial Guinea 0.00 2015
138 Sierra Leone 0.00 2018
138 Comoros 0.00 2014
138 Chad 0.00 2015
150 Guinea 0.00 2018
151 Jordan -0.02 2018
152 Ecuador -0.02 1989
153 Kyrgyz Republic -0.02 2018
154 Cameroon -0.02 2018
155 Albania -0.04 2018
156 St. Kitts and Nevis -0.05 2018
157 Fiji -0.07 2018
158 Mozambique -0.10 2018
159 Bolivia -0.22 2018
160 Eswatini -0.24 2018
161 The Gambia -0.34 2018
162 Gabon -0.37 2018
163 Tajikistan -0.38 2018
164 United States -0.38 2018
165 North Macedonia -0.48 2018
166 St. Vincent and the Grenadines -0.59 2018
167 Estonia -0.71 2018
168 Tonga -0.90 2018
169 Macao SAR, China -0.90 2018
170 Latvia -0.99 2018
171 Papua New Guinea -1.46 2018
172 El Salvador -1.58 2018
173 Kazakhstan -2.63 2018
174 Eritrea -3.95 2000
175 Seychelles -4.22 2018
176 Belgium -11.27 2018
177 Cyprus -23.06 2018
178 Netherlands -24.78 2018
179 Malta -46.25 2018
180 Hungary -49.23 2018

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Development Relevance: Private financial flows - equity and debt - account for the bulk of development finance. Equity flows comprise foreign direct investment (FDI) and portfolio equity. Debt flows are financing raised through bond issuance, bank lending, and supplier credits.

Limitations and Exceptions: FDI data do not give a complete picture of international investment in an economy. Balance of payments data on FDI do not include capital raised locally, an important source of investment financing in some developing countries. In addition, FDI data omit nonequity cross-border transactions such as intra-unit flows of goods and services. The volume of global private financial flows reported by the World Bank generally differs from that reported by other sources because of differences in sources, classification of economies, and method used to adjust and disaggregate reported information. In addition, particularly for debt financing, differences may also reflect how some installments of the transactions and certain offshore issuances are treated. Data on equity flows are shown for all countries for which data are available.

Statistical Concept and Methodology: Data on equity flows are based on balance of payments data reported by the International Monetary Fund (IMF). Foreign direct investment (FDI) data are supplemented by the World Bank staff estimates using data from the United Nations Conference on Trade and Development (UNCTAD) and official national sources. The internationally accepted definition of FDI (from the sixth edition of the IMF's Balance of Payments Manual [2009]), includes the following components: equity investment, including investment associated with equity that gives rise to control or influence; investment in indirectly influenced or controlled enterprises; investment in fellow enterprises; debt (except selected debt); and reverse investment. The Framework for Direct Investment Relationships provides criteria for determining whether cross-border ownership results in a direct investment relationship, based on control and influence. Distinguished from other kinds of international investment, FDI is made to establish a lasting interest in or effective management control over an enterprise in another country. A lasting interest in an investment enterprise typically involves establishing warehouses, manufacturing facilities, and other permanent or long-term organizations abroad. Direct investments may take the form of greenfield investment, where the investor starts a new venture in a foreign country by constructing new operational facilities; joint venture, where the investor enters into a partnership agreement with a company abroad to establish a new enterprise; or merger and acquisition, where the investor acquires an existing enterprise abroad. The IMF suggests that investments should account for at least 10 percent of voting stock to be counted as FDI. In practice many countries set a higher threshold. Many countries fail to report reinvested earnings, and the definition of long-term loans differs among countries. BoP refers to Balance of Payments.

Aggregation method: Weighted average

Periodicity: Annual

General Comments: Note: Data starting from 2005 are based on the sixth edition of the IMF's Balance of Payments Manual (BPM6).