LONDON Flows of European Union foreign direct investment showed strong growth last year as the 15-nation group continued to be a net investor in the rest of the world.

Increases were recorded in both extra-EU investment to nonmember countries, up 12 percent to euro 304 billion ($265bn) compared with 1999, and even more in intra-EU investment, up 27 percent to euro 463bn, according to initial estimates by Eurostat.

Inward investment from outside the EU also grew from euro 98bn in 1999 to euro 125bn last year, with the us accounting for over 78 percent.

Among member states, the biggest foreign investor in both the EU and the rest of the world was the UK followed by France. The two countries accounted for over half of the EU's foreign investment.

The main destination for foreign investment in the 15-nation group in 2000 was Germany, which over took both the UK and the combined Belgium-Luxembourg Economic Union.