According to initial investment from Eurostat, the European Communities Statistical Office, the flows of EU foreign direct investment (FDI) reached a volume of EUR 490 billion in 1999, a rise of 41% over 1998 (347 billion). In the opposite direction, investments made within the EU reached USD 300 billion in 1999, an increase of around 30% over 1998 where they reached USD 218 billion. The table below shows the distribution of FDI to and from the EU in 1999, in millions of euros. EU flows abroad: i) out of the EUR 490 billion, close to half (240 billion) have been carried out within the EU, showing a more pronounced undertaking than previously seen for the Community market (for 1998,the figures where respectively, EUR 346 and EUR 133 billion); ii) the United Kingdom is the largest investor in the EU with an volume of investment of EUR 158 billion followed by France (101 billion), Germany (88 billion) and the Netherlands (43 billion); iii) the strong growth in FDI by the EU in 1999 is mainly explained by a strong increase in flows starting in France that have tripled compared to the previous year (101 billion in 1999 against 34 billion in 1998), as well as from the United Kingdom (158 billion against 86 billion) and, to a less extent, from Spain (33 billion against 17 billion); Flows to the EU: i) intra-Community FDI now represents two thirds of the total FDI: EUR 203 billion have been invested be the Member States within the EU against a total of EUR 300 billion in 1999 while in 1998 only EUR 110 billion was invested be the Member States in the EU out of total of EUR 217 billion; ii) the most notable increases has been seen towards Sweden (56 billion in 1999 against 16 billion in 1998), in Ireland (17 Billion against 16 billion) and in Germany (49 billion against 19 billion). Eurostat indicates that the EU has invested EUR 161 billion in the United States, or an increase of 20% compared with 1998 (128 billion). On the other hand, the American investors have invested 68 billion in the EU Member States against 60 in 1998, or an increase of close to 15%.