According to the latest estimates published by UNCTAD (United Nations Conference on Trade and Development), global foreign direct investment (fdi) inflows are estimated to have risen by 6% to USD 612 billion, from USD 580 bn in 2003. As in 2003, flows to developed countries slumped, but that decline was offset by rising flows to developing countries and central and Eastern Europe. Not only did this put an end to the global fdi downturn that had begun in 2001, it also meant that investment flows to developing countries and central and Eastern Europe surpassed their previous records. Developing countries now account for an estimated 42% of world fdi, compared with an average of 27% during 2001-2003. In 2004, fdi to developed countries totalled USD 321 bn, compared with 380 bn in 2003, and fdi to developing countries over the same period totalled USD 255 bn (compared with only 173 bn in 2003). By region: 1) EU countries saw a huge slump in global fdi, from USD 308 bn in 2003 to 165 bn in 2004. Germany in particular saw investment fall by USD 13 bn in 2003 to -49 bn because of exceptional circumstances. The UK is the only EU Member State to experience a rise (by 21 to 55 bn). 2) The United States is the world's biggest magnet for fdi, with USD 121 bn in 2004 (it was beaten by China in 2003). 2004 saw a sharp rise in fdi to the United States following a decline each year since 2001 (159 bn) to only 30 bn in 2003. 3) Africa is doing slightly better among the developing countries and regions (20 bn in 2004, up from 15 bn in 2003). Latin America and the Caribbean experienced an increase (69 bn, up from 51 bn), as did the countries of central and Eastern Europe (36 bn, up from 27 bn). Fdi flows to Asia and the Pacific rose from 55% from 107 bn in 2003 to 166 bn.