Table 10.—Newly Acquired or Established Nonbank Foreign Affiliates by Major Area and Industry of Affiliate, 1997

	Number of newly acquired and established affiliates			Millions of dollars		Thousands of employees
	Total	Acquired	Established	Total assets	Sales	Thousands of employees
All areas, all industries	489	241	248	129,189	41,129	227.7
By major area
Canada	28	18	10	4,389	1,361	13.4
Europe	265	145	120	84,115	28,115	115.8
Latin America and Other Western Hemisphere	99	36	63	18,113	3,892	16.2
Africa	8	4	4	5,626	4,097	54.0
Middle East	2	2	0	79	71	0.6
Asia and Pacific	87	36	51	16,867	3,593	27.8
International/1/	0	0	0	0	0	0.0
Addenda/2/:
High-wage country sample	284	151	133	93,889	29,974	127.8
Low-wage country sample	115	59	56	25,639	9,933	89.0
Non-sample countries	90	31	59	9,661	1222	10.9
By major industry
Petroleum	20	10	10	7,076	656	2.0
Manufacturing	173	120	53	18,892	12,171	92.7
Food and kindred products	10	4	6	2,589	1,800	11.1
Chemicals and allied products	33	22	11	3,698	1,530	15.3
Primary and fabricated metals	32	27	5	2,088	953	10.8
Industrial machinery and equipment	31	25	6	3,777	2,367	16.4
Electronic and other electric equipment	14	5	9	485	633	5.8
Transportation equipment	14	8	6	2,438	2,016	11.5
Other manufacturing	39	29	10	3,818	2,872	21.7
Wholesale trade	55	32	23	3,640	4,798	6.1
Finance (except depository institutions), insurance, and real estate	126	30	96	45,588	2,966	6.7
Services	51	14	37	5,050	2,226	20.6
Other industries	64	35	29	48,943	18,312	99.7

1. See footnote 1 to table 9.

2. The distinction between "high-wage" countries and "low-wage" countries is based on estimates of average hourly wages of production workers of majority-owned foreign affiliates (MOFA's) in manufacturing; the estimates were derived from data collected in the 1994 benchmark survey of U.S. direct investment abroad. To ensure the significance of the data underlying this distinction, the analysis is restricted to host countries in which employment by manufacturing MOFA's totalled at least 10,000 employees in 1994.

NOTE.—The data in this table cover only newly acquired or established foreign affiliates. They exclude data for consolidated units of existing foreign affiliates that were acquired or established during the year.