Corporate takeovers by foreign firms in Canada, especially in the resource sector, pushed foreign direct investment holdings here past the half-trillion dollar mark for the first time, Statistics Canada said today.

“Foreign direct investment acquisitions activity surpassed that realized during the high-tech bubble of 2000,” the federal government agency said, as 2007’s total hit $500.9 billion.

Foreign companies sent the bulk of their investment — 55% — in Canada into the manufacturing and oil and gas industries. Financial, insurance and management industries combined amounted to 22.7%.

While foreign money flowed in last year, Canadian direct investments outside of the country declined for only the second time since 1986. Canadian holdings amounted to $514.5 billion, a decrease of $15.4 billion from 2006.

The only other decline was seen in 2003, and Statistics Canada said the rise of the Canadian dollar played a significant role in both cases.

Overall, Canada’s net direct investment position, which is the difference between Canadian direct investment abroad and foreign direct investment in Canada, narrowed in 2007 to $13.7 billion. This was the smallest surplus since this account moved out of deficit in 1997. The surplus was down from $92.2 billion in 2006.