Table 1.—Alternative Direct Investment Position Estimates, 1997 and 1998

[Millions of dollars]

Valuation method	Position at yearend 1997/r/	Changes in 1998 (decrease (-))			Position at yearend 1998/p/
Valuation method	Position at yearend 1997/r/	Total	Capital flows	Valuation adjustments	Position at yearend 1998/p/
U.S. direct investment abroad:
Historical cost	865,531	115,034	121,644	-6,610	980,565
Current cost	1,004,228	119,213	132,829	-13,616	1,123,441
Market value	1,784,494	356,034	132,829	223,205	2,140,528
Foreign direct investment in the United States:
Historical cost	693,207	118,549	188,960	-70,411	811,756
Current cost	764,045	114,672	193,375	-78,703	878,718
Market value	1,642,365	551,737	193,375	358,362	2,194,102

p Preliminary.

r Revised.