<ARTICLE> 6
<CIK> 0001056707
<NAME> DREYFUS INVESTMENT PORTFOLIOS

   <NUMBER> 012
   <NAME> JAPAN PORTFOLIO
<MULTIPLIER> 1000

                             
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          DEC-31-2000
<PERIOD-END>                               JUN-30-2000
<INVESTMENTS-AT-COST>                             2205
<INVESTMENTS-AT-VALUE>                            2380
<RECEIVABLES>                                      119
<ASSETS-OTHER>                                     105
<OTHER-ITEMS-ASSETS>                                 0
<TOTAL-ASSETS>                                    2604
<PAYABLE-FOR-SECURITIES>                           105
<SENIOR-LONG-TERM-DEBT>                              0
<OTHER-ITEMS-LIABILITIES>                           13
<TOTAL-LIABILITIES>                                118
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                          2094
<SHARES-COMMON-STOCK>                              166
<SHARES-COMMON-PRIOR>                              160
<ACCUMULATED-NII-CURRENT>                         (17)
<OVERDISTRIBUTION-NII>                               0
<ACCUMULATED-NET-GAINS>                            233
<OVERDISTRIBUTION-GAINS>                             0
<ACCUM-APPREC-OR-DEPREC>                           176
<NET-ASSETS>                                      2486
<DIVIDEND-INCOME>                                    6
<INTEREST-INCOME>                                    2
<OTHER-INCOME>                                       0
<EXPENSES-NET>                                      17
<NET-INVESTMENT-INCOME>                           (10)
<REALIZED-GAINS-CURRENT>                           236
<APPREC-INCREASE-CURRENT>                          119
<NET-CHANGE-FROM-OPS>                              345
<EQUALIZATION>                                       0
<DISTRIBUTIONS-OF-INCOME>                          (8)
<DISTRIBUTIONS-OF-GAINS>                             0
<DISTRIBUTIONS-OTHER>                                0
<NUMBER-OF-SHARES-SOLD>                              7
<NUMBER-OF-SHARES-REDEEMED>                        (1)
<SHARES-REINVESTED>                                  0
<NET-CHANGE-IN-ASSETS>                             432
<ACCUMULATED-NII-PRIOR>                              1
<ACCUMULATED-GAINS-PRIOR>                          (3)
<OVERDISTRIB-NII-PRIOR>                              0
<OVERDIST-NET-GAINS-PRIOR>                           0
<GROSS-ADVISORY-FEES>                               11
<INTEREST-EXPENSE>                                   0
<GROSS-EXPENSE>                                     43
<AVERAGE-NET-ASSETS>                              2303
<PER-SHARE-NAV-BEGIN>                            12.84
<PER-SHARE-NII>                                  (.06)
<PER-SHARE-GAIN-APPREC>                           2.21
<PER-SHARE-DIVIDEND>                             (.05)
<PER-SHARE-DISTRIBUTIONS>                          .00
<RETURNS-OF-CAPITAL>                               .00
<PER-SHARE-NAV-END>                              14.94
<EXPENSE-RATIO>                                   .008