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China remained the third largest investor. Chinese investment rose by 8% from $2,953 million at the end of 1988 to $3,178 million at the end of 1989.
The United Kingdom remained the fourth largest investor. British investment in manufacturing fell, however by 7%, from $2,357 million at the end of 1988 to $2,200 million at the end of 1989.
The total number of companies containing overseas investment fell by 3%, from 605 at the end of 1988 to 589 at the end of 1989, and the total number of overseas investments by 1%, from 680 to 672.
Investment Trends in Leading Industries
The electronics industry still contained more overseas investment than any other industry in the manufacturing sector, but its relative importance declined. The value of overseas investment in the electronics industry dropped by 9% from $9,532 million in 1988 to $8,637 million at the end of 1989. The industry's share of total overseas investment fell from 36% in 1988 to 29% in 1989.
Other important industries with substantial investment were electrical products, textiles and clothing and chemical products.
At the end of 1988, the value of overseas investment in the electrical products industry was $2,336 million, 9% of total Overseas investment. Overseas investment in the electrical
products industry rose by 48% to $3,446 million at the end of 1989, accounting for 12% of total overseas investment in 1989.
At the end of 1988, the value of overseas investment in the textiles and clothing industry was $2,741 million, 10% of total overseas investment. In 1989 the value of overseas investment in the textiles and clothing industry rose slightly by 2% to $2,789 million, and the industry's share of total overseas investment fell slightly to 9%.
At the end of 1988, the value of overseas investment in the chemical products industry was $2,189 million, 8% of total overseas investment. Overseas investment increased by 6% to $2,316 million at the end of 1989, and continued to account for 8% of total investment.