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North Rhine-Westphalia is number one in Germany in terms of foreign capital: With 28.7 percent (EUR 187.7 billion), the state accounted for the highest share of all 16 federal states in terms of direct investments in Germany (EUR 654.2 billion) at the end of 2008. NRW is particularly attractive for financial investors.
Source: Deutsche Bundesbank 4/2010, position: end of 2008
Yet even without pure financial investment, NRW is still by far the most important investment location in Germany. This is shown by the rankings for direct investments, excluding purely financial investments, with NRW currently running to EUR 138.7 million, equivalent to a national share of 29.0 percent.
(Source: Deutsche Bundesbank 4/2010)
If Luxembourg is disregarded on the grounds of its special status as a tax haven, then the Netherlands the biggest investor in North Rhine-Westphalia, accounting for 22.8 percent of the direct investment volume in the state, followed by the Netherlands (10.0 %) and the USA (8.8 %).
Source: Deutsche Bundesbank 4/2010, as of end of 2008, special case Luxemburg: mainly financial investments