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Caledonia","NCL",1,..,..,..,..,..,..,..,..,..,..,..,..,..,..,..,..,.., "New Zealand","NZL",2939,1199,-149,2875,2484,177,1319,561,3659,1255,273,1178,234,-68,1850,105,-933,-597, "Nicaragua {44}","NIC",206,..,53,83,115,11,..,42,23,..,..,..,..,..,..,..,..,.., "Nigeria","NGA",10,..,..,-5,15,18,12,..,..,-2,..,..,..,..,..,1000,..,.., "Norway","NOR",-1476,5276,-4661,1571,3237,7321,12,1449,-1758,-1005,-246,1745,217,-458,-712,474,221,-43, "Oman","OMN",20,-125,-6,..,..,28,-55,-8,7,..,..,15,..,78,..,..,..,.., "Pakistan","PAK",384,..,159,103,..,6,2259,80,1124,..,..,5,22,..,1,..,..,.., "Panama","PAN",759,-120,250,-25,125,-2064,117,563,-3,9,73,6,..,..,..,..,15,.., "Papua New Guinea","PNG",11,82,0,..,-328,106,41,257,31,39,36,2,..,28,..,..,..,.., "Paraguay","PRY",..,..,..,67,65,..,11,2,27,..,..,..,..,..,..,..,..,.., "Peru","PER",692,156,402,527,45,641,115,867,607,883,3075,62,174,15,..,..,..,.., "Philippines","PHL",629,230,541,1809,291,1193,1904,4103,272,1054,786,111,404,49,15,161,45,25, "Poland","POL",1059,273,3073,3168,9198,3575,1324,763,971,975,346,189,1396,61,..,4,..,.., "Portugal","PRT",-1872,1625,-350,-259,323,-1223,-4095,-526,697,-186,-80,342,166,13,195,754,11,9, "Puerto Rico","PRI",882,-7,118,108,49,6,..,..,..,..,..,..,142,..,..,..,..,.., "Qatar","QAT",-192,-15,0,..,-2,..,..,..,-42,..,..,12,..,43,..,..,..,.., "Romania","ROU",2200,492,105,56,536,447,1284,391,94,229,181,..,..,..,..,..,..,.., "Russian Federation","RUS",3113,-884,646,1668,533,128,-154,2679,-148,100,-182,303,15,..,59,..,..,.., "Rwanda {45}","RWA",10,..,..,2,..,2,..,..,..,..,..,..,..,..,..,..,..,.., "Saint Kitts and Nevis {46}","KNA",..,..,..,..,..,..,..,..,78,..,..,..,..,..,..,..,..,.., "Samoa {47}","WSM",..,..,-5,..,..,..,..,..,..,..,..,..,..,..,..,..,..,.., "Saudi Arabia","SAU",-78,-473,-2020,-39,-1548,-3,-217,-334,-324,-1663,-630,-182,-76,..,..,2,..,.., "Senegal {48}","SEN",..,..,..,..,6,66,..,107,..,..,..,..,..,..,..,..,..,.., "Serbia and Montenegro {49}","YUG",38,..,..,..,..,..,..,..,..,..,..,..,..,..,..,..,..,.., "Seychelles {50}","SYC",..,-7,..,..,..,..,..,..,..,..,..,..,..,..,..,..,..,.., "Sierra Leone {51}","SLE",2,..,..,13,..,..,..,..,0,..,..,34,..,..,..,..,..,.., "Singapore","SGP",-10448,-3252,-2390,-11646,-7315,-1762,-62,-2594,-1425,346,-819,-488,-18,-333,705,-650,253,14, "Slovakia","SVK",200,160,3347,1103,1825,-383,54,37,96,2,82,21,..,..,..,..,..,.., "Slovenia","SVN",110,-14,1439,367,-10,10,..,133,30,18,41,0,..,..,..,..,..,.., "Solomon Islands {52}","SLB",..,..,..,..,..,..,..,..,..,..,1,..,..,..,..,..,..,.., "South Africa","ZAF",-385,995,986,9322,-5222,-3813,-583,-103,-416,47,-4009,1154,-1225,-191,-146,-5,-24,-298, "Spain","ESP",-25349,-428,2627,-2540,-17195,-19611,-9331,-3964,-1995,797,-213,914,3686,2600,-255,275,140,727, "Sri Lanka","LKA",..,76,0,..,2,14,70,275,35,126,8,30,..,..,1,..,..,.., "St. Lucia {53}","LCA",6,..,..,..,..,..,..,..,..,..,..,..,..,..,..,..,..,.., "Sudan {54}","SDN",136,768,25,..,..,..,..,..,..,..,..,..,8,..,..,..,..,.., "Suriname","SUR",..,..,..,3,..,..,..,..,..,..,..,..,..,-2,..,..,..,.., "Swaziland {55}","SWZ",33,..,..,5,..,..,..,387,..,..,..,..,..,..,37,..,..,.., "Sweden","SWE",5010,-107,-4617,-1592,-8447,49762,-4859,-4298,1805,4019,2898,-79,642,-405,-8083,-795,-2912,-769, "Switzerland","CHE",-788,2977,-5718,-6384,-29894,-16578,-33771,-7029,-5591,-6144,-9793,-2162,-4390,-461,66,-1805,-7177,40, "Syrian Arab Rep {56}","SYR",7,..,0,..,..,3,..,..,..,..,..,..,..,..,..,..,..,.., "Taiwan","TWN",-312,169,406,2332,-494,1429,-605,168,46,-81,-14,16,-129,..,-1374,-455,38,-29, "Tajikistan {57}","TJK",..,..,4,..,..,..,..,..,..,..,..,..,..,..,..,..,..,.., "Tanzania","TZA",..,2,1,120,412,..,23,1,17,2,12,21,..,..,..,..,..,.., "Thailand","THA",1051,-122,160,257,2564,1857,3166,579,54,18,77,4,496,20,52,-269,..,.., "Trinidad and Tobago","TTO",18,87,40,..,-5,..,-5,205,..,..,2,2,-224,17,..,-24,..,.., "Tunisia","TUN",3,..,186,45,301,-12,402,..,..,-11,..,..,..,..,..,..,..,.., "Turkey","TUR",24,275,389,1019,134,-20,67,101,14,169,37,35,116,9,113,56,59,.., "Uganda","UGA",-250,..,20,..,32,..,11,29,55,..,..,..,..,..,..,..,..,.., "Ukraine","UKR",41,191,..,114,21,136,-23,1,30,66,..,..,..,..,..,..,..,.., "United Arab Emirates","ARE",-27,-36,-1,73,2,-455,-77,54,-153,..,-257,..,..,-1,-48,..,-124,.., "United Kingdom","GBR",10800,-25556,-16262,-43205,-202393,-81575,-4018,-18665,-4839,6751,-14868,-10212,-4218,4519,3228,-11715,-4422,-14086, "United States","USA",-28083,-12726,-5196,88841,165081,131624,72126,839,7325,-4106,16199,-1427,804,11630,27069,29961,39723,23354, "Uruguay","URY",60,9,..,36,26,..,11,..,..,16,-80,5,-8,..,..,18,..,.., "Uzbekistan {58}","UZB",199,21,11,2,..,4,..,..,4,..,..,9,..,..,..,..,..,.., "Vanuatu","VUT",..,..,..,..,4,..,..,..,..,-9,..,..,..,..,..,..,..,.., "Venezuela","VEN",1345,164,..,-42,2095,267,1872,1133,1001,235,327,-384,-80,1991,-109,-89,-7,.., "Viet Nam","VNM",74,14,..,4,19,59,..,36,-5,1,1,..,-6,..,..,..,..,.., "Virgin Islands","VIR",..,..,..,..,-205,-27,..,..,..,..,..,..,..,..,..,..,..,.., "Yemen","YEM",..,..,..,..,..,-37,..,..,..,..,..,..,..,..,..,..,..,.., "Yugoslavia (former)","",80,840,..,2,..,..,..,45,..,0,..,..,88,62,..,..,..,.., "Zambia","ZMB",48,..,..,53,90,1,150,173,12,18,..,..,..,..,..,..,..,.., "Zimbabwe","ZWE",7,..,-3,-305,5,24,-16,2,3,1,-15,..,38, Footnotes "1 -- Afghanistan" " Data are for cross-border purchases only; sales are equal to zero, or sales data are unavailable." "2 -- Albania" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "3 -- Angola" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "4 -- Antigua and Barbuda" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "5 -- Armenia" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "6 -- Aruba" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "7 -- Azerbaijan" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "8 -- Belarus" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "9 -- Bosnia and Herzegovina" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "10 -- Burkina Faso" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "11 -- Cameroon" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "12 -- Cape Verde" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "13 -- Congo" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "14 -- Cook Islands" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "15 -- Equatorial Guinea" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "16 -- Eritrea" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "17 -- Ethiopia" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "18 -- French Polynesia" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "19 -- Georgia" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "20 -- Greenland" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "21 -- Grenada" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "22 -- Guinea" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "23 -- Guyana" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "24 -- Haiti" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "25 -- Honduras" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "26 -- Iran, Islamic Rep" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "27 -- Iraq" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "28 -- Kyrgyzstan" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "29 -- Lao People's Dem Rep" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "30 -- Liberia" " Data are for cross-border purchases only; sales are equal to zero, or sales data are unavailable." "31 -- Libyan Arab Jamahiriya" " Data are for cross-border purchases only; sales are equal to zero, or sales data are unavailable." "32 -- Madagascar" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "33 -- Malawi" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "34 -- Mali" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "35 -- Marshall Islands" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "36 -- Mauritania" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "37 -- Micronesia, Fed States" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "38 -- Moldova, Rep" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "39 -- Mongolia" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "40 -- Mozambique" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "41 -- Myanmar" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "42 -- Nauru" " Data are for cross-border purchases only; sales are equal to zero, or sales data are unavailable." "43 -- Nepal" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "44 -- Nicaragua" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "45 -- Rwanda" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "46 -- Saint Kitts and Nevis" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "47 -- Samoa" " Data are for cross-border purchases only; sales are equal to zero, or sales data are unavailable." "48 -- Senegal" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "49 -- Serbia and Montenegro" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "50 -- Seychelles" " Data are for cross-border purchases only; sales are equal to zero, or sales data are unavailable." "51 -- Sierra Leone" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "52 -- Solomon Islands" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "53 -- St. Lucia" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "54 -- Sudan" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "55 -- Swaziland" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "56 -- Syrian Arab Rep" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "57 -- Tajikistan" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." "58 -- Uzbekistan" " Data are for cross-border sales only; purchases are equal to zero, or purchase data are unavailable." Source "United Nations Conference on Trade and Development (UNCTAD). 2005. World Investment Report 2005: Transnational Corporations and the Internationalization of R&D. Annex Table ""B.4. Cross-border M&As, by region/economy of seller/purchaser, 2002-2004.” New York and Geneva: UNCTAD.Available on-line at http://www.unctad.org/en/docs/wir2005_en.pdf." "Full data set available in tables “7.2. Cross-border M&A sales, by region/economy of seller, 1987-2004” and “8.2. Cross-border M&A purchases, by region/economy of purchaser, 1987-2004.”" "Available on-line at http://www.unctad.org/Templates/Page.asp?intItemID=3277." "" Technical Notes "Definition:" "Cross-border Mergers and Acquisitions (M&As) are defined as the joining of two firms or the takeover of one firm by another when the parties involved are based in different national economies. In some instances, M&As between foreign affiliates and firms located within the same country are included. Data are presented here as the net inflows of M&A capital (sales - purchases) and are in millions of US dollars. Positive values indicate a greater total amount of sales and negative values indicate a greater total amount of purchases in any particular year." "" "Please also refer to the World Investment Report 2005 Methodological Notes: Definitions and Sources for more information." "" "Years Covered and Frequency of Update: " "Data presented here are for the years 1987-2004." "The United Nations Conference on Trade and Development (UNCTAD) updates its Cross-Border Mergers and Acquisitions database as part of the annual release of its World Investment Report. " "" "Methodology:" "WRI calculates net inflows by subtracting the total value of purchases of firms within a country from total value of sales made by firms within that country. Please note that WRI, for presentation purposes of this data set, indicates a nil value or value exactly equal to 0 with “..”; data points recorded as “0” follow the typical practice of EarthTrends (see the General Notes), but are never exactly equal to a 0 value." "" "UNCTAD receives its data on cross-border mergers and acquisitions purchases and sales from Thomson Financial Securities Data Company. Data are reported at the time of transaction (deal closure) and recorded by both the government of the target firm and that of the purchasing firm. Only transactions involving the acquisition of an equity stake greater than 10% are reported. Unlike the calculation of foreign direct investment, divestments are not subtracted from the total value of transactions." "" "For more information, please see either the full World Investment Report 2005 or the World Investment Report Statistical Annex." "" "Data Reliability:" "Cross-border M&A values are reported based on the year that a deal closes, not at the time a deal is announced. M&A values may be paid out over more than one year. " "" "Data are accepted ""as is"" from national surveys. Some underreporting of data may occur, though as all transactions are registered in both the country of the purchasing firm and the targeting firm, this is likely to be uncommon. Intraregional M&A cross-border activity is included in the regional aggregates. Regional and global totals represent a sum of available data and may therefore be incomplete." ""