Accessible Version
Globalization and the Geography of Capital Flows Accessible Data
Figure 1a: U.S. holdings of common stock, Residence basis
$ Billions
| Year | AFE | EME | Fin. centers |
|---|---|---|---|
| 2003 | 1272.7 | 302.5 | 431.0 |
| 2004 | 1561.4 | 372.7 | 563.0 |
| 2005 | 1986.7 | 562.0 | 675.1 |
| 2006 | 2526.7 | 797.7 | 841.2 |
| 2007 | 2864.1 | 1066.5 | 1025.5 |
| 2008 | 1522.1 | 477.0 | 542.2 |
| 2009 | 2038.7 | 883.6 | 782.5 |
| 2010 | 2307.5 | 1124.0 | 895.4 |
| 2011 | 2054.8 | 927.2 | 804.4 |
| 2012 | 2392.0 | 1120.2 | 974.9 |
| 2013 | 3072.7 | 1132.6 | 1510.2 |
| 2014 | 2947.1 | 1221.3 | 1575.4 |
| 2015 | 2993.6 | 1087.2 | 1677.9 |
| 2016 | 3081.0 | 1186.3 | 1650.4 |
| 2017 | 3981.4 | 1673.6 | 2196.5 |
Figure 1b: U.S. holdings of common stock, Nationality basis
$ Billions
| Year | AFE | EME | Fin. centers | U.S. |
|---|---|---|---|---|
| 2003 | 1275 | 288.1 | 261.3 | 181.9 |
| 2004 | 1565.7 | 366 | 321.7 | 243.7 |
| 2005 | 1997.1 | 562.4 | 382 | 282.3 |
| 2006 | 2553 | 807.5 | 458 | 347.1 |
| 2007 | 2908.3 | 1125.6 | 476.4 | 445.8 |
| 2008 | 1547.3 | 511.9 | 282.9 | 199.4 |
| 2009 | 2082.6 | 952.5 | 355.9 | 313.8 |
| 2010 | 2356.7 | 1218.6 | 367.6 | 384 |
| 2011 | 2098.9 | 1014.4 | 338.9 | 334.2 |
| 2012 | 2427.7 | 1216.1 | 444.9 | 398.4 |
| 2013 | 3107.1 | 1281 | 669.4 | 658 |
| 2014 | 2992.6 | 1393.8 | 620.5 | 736.9 |
| 2015 | 3027.2 | 1299.4 | 611.4 | 820.7 |
| 2016 | 3110.8 | 1373.2 | 540.5 | 893.2 |
| 2017 | 4029.4 | 2099 | 731.5 | 991.6 |
Figure 1c: U.S. holdings of common stock, Difference between nationality and residence basis holdings
$ Billions
| Year | AFE | EME | Fin. centers | U.S. |
|---|---|---|---|---|
| 2003 | 2.3 | -14.4 | -169.7 | 181.9 |
| 2004 | 4.3 | -6.7 | -241.3 | 243.7 |
| 2005 | 10.4 | 0.4 | -293.1 | 282.3 |
| 2006 | 26.3 | 9.8 | -383.2 | 347.1 |
| 2007 | 44.2 | 59.1 | -549.1 | 445.8 |
| 2008 | 25.2 | 34.9 | -259.3 | 199.4 |
| 2009 | 43.9 | 68.9 | -426.6 | 313.8 |
| 2010 | 49.2 | 94.6 | -527.8 | 384 |
| 2011 | 44.1 | 87.2 | -465.5 | 334.2 |
| 2012 | 35.7 | 95.9 | -530 | 398.4 |
| 2013 | 34.4 | 148.4 | -840.8 | 658 |
| 2014 | 45.5 | 172.5 | -954.9 | 736.9 |
| 2015 | 33.6 | 212.2 | -1066.5 | 820.7 |
| 2016 | 29.8 | 186.9 | -1109.9 | 893.2 |
| 2017 | 48 | 425.4 | -1465 | 991.6 |
Note: Legend entries are ordered from top to bottom. On Figure 1c, for 2003 through 2006, the bars for AFE and EME are small.
Source: Authors' estimates based on Treasury International Capital data. Data only include securities that were considered "foreign" on a residence basis.
Figure 2a: U.S. holdings of corporate bonds, Residence basis
$ Billions
| Year | AFE | EME | Fin. centers |
|---|---|---|---|
| 2003 | 334.9 | 58.7 | 165.8 |
| 2004 | 382.7 | 66.9 | 227.1 |
| 2005 | 422.7 | 74.6 | 238.6 |
| 2006 | 546.5 | 78.6 | 347.8 |
| 2007 | 647.5 | 90.6 | 478.8 |
| 2008 | 513 | 81.2 | 368.1 |
| 2009 | 660.4 | 100.5 | 453.2 |
| 2010 | 708.6 | 124.2 | 440.7 |
| 2011 | 829.8 | 144.6 | 468.5 |
| 2012 | 878.5 | 183.7 | 512.2 |
| 2013 | 936 | 192.6 | 535.9 |
| 2014 | 971.7 | 239.8 | 630.7 |
| 2015 | 882.1 | 208.5 | 648.8 |
| 2016 | 882.5 | 223.6 | 727.1 |
| 2017 | 1025.3 | 254.9 | 817.9 |
Figure 2b: U.S. holdings of corporate bonds, Nationality basis
$ Billions
| Year | AFE | EME | Fin. centers | U.S. |
|---|---|---|---|---|
| 2003 | 363.3 | 71.9 | 57.7 | 66.5 |
| 2004 | 424.4 | 83.6 | 64.6 | 104 |
| 2005 | 465.2 | 95 | 69.9 | 105.8 |
| 2006 | 619.3 | 110.3 | 83.8 | 159.5 |
| 2007 | 737.7 | 132.2 | 96 | 251.1 |
| 2008 | 574.9 | 113.2 | 79.8 | 194.4 |
| 2009 | 731.6 | 148 | 112.2 | 222.3 |
| 2010 | 768.1 | 186.9 | 138.2 | 180.3 |
| 2011 | 888 | 218.4 | 126 | 210.6 |
| 2012 | 943.5 | 278.7 | 157 | 195.1 |
| 2013 | 995.7 | 293 | 159.1 | 216.7 |
| 2014 | 1036.8 | 345.8 | 172.9 | 286.8 |
| 2015 | 947.8 | 287.1 | 159.9 | 344.6 |
| 2016 | 972.4 | 309 | 168.1 | 383.6 |
| 2017 | 1109.9 | 356.3 | 197.4 | 434.4 |
Figure 2c: U.S. holdings of corporate bonds, Difference between nationality and residence basis holdings
$ Billions
| Year | AFE | EME | Fin. centers | U.S. |
|---|---|---|---|---|
| 2003 | 28.4 | 13.2 | -108.1 | 66.5 |
| 2004 | 41.7 | 16.7 | -162.5 | 104 |
| 2005 | 42.5 | 20.4 | -168.7 | 105.8 |
| 2006 | 72.8 | 31.7 | -264 | 159.5 |
| 2007 | 90.2 | 41.6 | -382.8 | 251.1 |
| 2008 | 61.9 | 32 | -288.3 | 194.4 |
| 2009 | 71.2 | 47.5 | -341 | 222.3 |
| 2010 | 59.5 | 62.7 | -302.5 | 180.3 |
| 2011 | 58.2 | 73.8 | -342.5 | 210.6 |
| 2012 | 65 | 95 | -355.2 | 195.1 |
| 2013 | 59.7 | 100.4 | -376.8 | 216.7 |
| 2014 | 65.1 | 106 | -457.8 | 286.8 |
| 2015 | 65.7 | 78.6 | -488.9 | 344.6 |
| 2016 | 89.9 | 85.4 | -559 | 383.6 |
| 2017 | 84.6 | 101.4 | -620.5 | 434.4 |
Note: Legend entries are ordered from top to bottom.
Source: Authors' estimates based on Treasury International Capital data. Data only include securities that were considered "foreign" on a residence basis.
Figure 3a: U.S. holdings of foreign corporate bonds, Brazil and Mexico
$ Billions
| Year | Brazil | Mexico | ||
|---|---|---|---|---|
| nationality | residence | nationality | residence | |
| 2003 | 6.7 | 3.1 | 12.3 | 9.7 |
| 2004 | 8.7 | 3.3 | 12.8 | 9.8 |
| 2005 | 8.8 | 3.9 | 13.5 | 11.4 |
| 2006 | 11.5 | 3.4 | 13.7 | 11.3 |
| 2007 | 13.2 | 3.6 | 14.6 | 12 |
| 2008 | 11.5 | 3.2 | 10.4 | 8.7 |
| 2009 | 18.7 | 4.1 | 11.9 | 10.3 |
| 2010 | 27.1 | 8.7 | 17.7 | 16.4 |
| 2011 | 36.5 | 11.8 | 23.5 | 22.7 |
| 2012 | 49.8 | 17 | 33 | 32.9 |
| 2013 | 50.4 | 15.1 | 40.4 | 39.8 |
| 2014 | 55.4 | 18.2 | 48.2 | 48.9 |
| 2015 | 35.4 | 9.7 | 45.4 | 45.6 |
| 2016 | 34.3 | 7.9 | 52.5 | 52.8 |
| 2017 | 40.3 | 8 | 58.5 | 58.6 |
Figure 3b: U.S. holdings of foreign corporate bonds, China and Russia
$ Billions
| Year | China, mainland | Russia | ||
|---|---|---|---|---|
| nationality | residence | nationality | residence | |
| 2003 | 0.6 | 0.1 | 1.3 | 0.8 |
| 2004 | 1 | 0.6 | 3.4 | 0.8 |
| 2005 | 2 | 1.1 | 5.3 | 0.9 |
| 2006 | 1.9 | 0.8 | 9.7 | 0.8 |
| 2007 | 2.3 | 1.1 | 14.9 | 0.8 |
| 2008 | 2.7 | 1.2 | 10.1 | 0.7 |
| 2009 | 2.4 | 0.3 | 12.2 | 0.1 |
| 2010 | 4 | 0.7 | 16.6 | 0.1 |
| 2011 | 5.3 | 0.4 | 19 | 0.4 |
| 2012 | 7.6 | 0.4 | 27.1 | 0.8 |
| 2013 | 11.3 | 0.5 | 24.7 | 0.8 |
| 2014 | 22.6 | 1.3 | 15.3 | 0.2 |
| 2015 | 22.1 | 2.6 | 10.7 | 0.3 |
| 2016 | 18.5 | 1 | 9 | 0.3 |
| 2017 | 26 | 1.7 | 8.7 | 0.4 |
Source: Authors' estimates based on Treasury International Capital data. Data only include securities that were considered "foreign" on a residence basis.
Figure 4a: U.S. holdings of fund shares and other equity, Residence basis
$ Billions
| Year | AFE | EME | Fin. centers |
|---|---|---|---|
| 2003 | 37.4 | 17.5 | 18.2 |
| 2004 | 20.4 | 19.9 | 23 |
| 2005 | 27.2 | 28.3 | 38.5 |
| 2006 | 38.4 | 34.8 | 90.2 |
| 2007 | 92.8 | 74.1 | 125 |
| 2008 | 64.4 | 48.9 | 93.8 |
| 2009 | 87.3 | 93.3 | 110 |
| 2010 | 104.2 | 92.9 | 123 |
| 2011 | 113.6 | 66.6 | 534.7 |
| 2012 | 160.3 | 80.3 | 594.1 |
| 2013 | 154.7 | 66.1 | 536.6 |
| 2014 | 160.2 | 66.6 | 756 |
| 2015 | 140.7 | 51.9 | 804.8 |
| 2016 | 161.2 | 73.7 | 993.8 |
| 2017 | 155.4 | 81.6 | 1029.6 |
Figure 4b: U.S. holdings of fund shares and other equity, Nationality basis
$ Billions
| Year | AFE | EME | Fin. centers | U.S. |
|---|---|---|---|---|
| 2003 | 39.7 | 19.7 | 7.6 | 6.1 |
| 2004 | 23.2 | 22.7 | 8.2 | 9.2 |
| 2005 | 34.6 | 31.1 | 13.3 | 14.9 |
| 2006 | 52.2 | 41.6 | 32.4 | 37.2 |
| 2007 | 114.5 | 87.9 | 30.4 | 59.1 |
| 2008 | 79.1 | 58.7 | 21.9 | 47.4 |
| 2009 | 103.7 | 106.4 | 26.8 | 53.6 |
| 2010 | 119.3 | 108.8 | 28 | 64 |
| 2011 | 207.3 | 121.1 | 58.4 | 328.2 |
| 2012 | 256.2 | 147.3 | 62.4 | 368.9 |
| 2013 | 240 | 122.8 | 63.8 | 330.8 |
| 2014 | 284.3 | 146.3 | 87.5 | 464.7 |
| 2015 | 291.5 | 132.8 | 71.9 | 501.3 |
| 2016 | 342.9 | 166.5 | 103.5 | 615.8 |
| 2017 | 319.1 | 199.3 | 93.3 | 654.9 |
Figure 4c: U.S. holdings of fund shares and other equity, Difference between nationality and residence basis holdings
$ Billions
| Year | AFE | EME | Fin. centers | U.S. |
|---|---|---|---|---|
| 2003 | 2.3 | 2.2 | -10.5 | 6.1 |
| 2004 | 2.8 | 2.9 | -14.8 | 9.2 |
| 2005 | 7.4 | 2.9 | -25.2 | 14.9 |
| 2006 | 13.8 | 6.8 | -57.8 | 37.2 |
| 2007 | 21.7 | 13.8 | -94.6 | 59.1 |
| 2008 | 14.7 | 9.8 | -71.9 | 47.4 |
| 2009 | 16.4 | 13.2 | -83.2 | 53.6 |
| 2010 | 15.1 | 15.9 | -95 | 64 |
| 2011 | 93.6 | 54.5 | -476.3 | 328.2 |
| 2012 | 95.9 | 66.9 | -531.7 | 368.9 |
| 2013 | 85.4 | 56.7 | -472.9 | 330.8 |
| 2014 | 124.2 | 79.7 | -668.5 | 464.7 |
| 2015 | 150.7 | 80.9 | -732.9 | 501.3 |
| 2016 | 181.7 | 92.9 | -890.3 | 615.8 |
| 2017 | 163.7 | 117.7 | -936.3 | 654.9 |
Note: Legend entries are ordered from top to bottom. On Figure 4c, for 2003 through 2006, the bars for AFE and EME are small.
Source: Authors' estimates based on Treasury International Capital data. Data only include securities that were considered "foreign" on a residence basis.
Last Update:
September 06, 2019