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Balance of Payments and Int'l Investment Position

Balance of Payments and International Investment Position (Additional Information on International Investment): Year ended 31 March 2004 Embargoed until 10:45am — 13 August 2004 No Change to New Zealand's Top Three Investment Partners

Latest Statistics New Zealand analysis shows that New Zealand's most important international investment relationships continue to be with Australia, the United States of America and the United Kingdom. These three countries are the source of over half of the foreign investment in New Zealand, and are also the destination of over half of New Zealand's investment abroad.

Together, these three countries were the source of 63.3 percent of the $193.6 billion of foreign investment in New Zealand at 31 March 2004 (they accounted for 61.8 percent at 31 March 2003).

Other countries identified as continuing significant sources of foreign investment in New Zealand at 31 March 2004 were Germany, Hong Kong, Italy, Japan, the Netherlands, Singapore, and Switzerland. Together, these countries contributed 15.3 percent ($29.6 billion) of the total foreign investment in New Zealand at 31 March 2004. This is similar to the 15.6 percent contribution of one year ago for these countries.

At 31 March 2004, New Zealand investment abroad totalled $86.1 billion. Of this, 53.4 percent ($46.0 billion) was invested in Australia and the United States, the same proportion of New Zealand's investment abroad at 31 March 2003. At 31 March 2004, a further 17.7 percent (15.2 billion) was invested in Germany and the United Kingdom. Other countries where New Zealand continues to have significant investments are Switzerland, Japan, and Singapore, which together accounted for 8.1 percent ($7.0 billion) of New Zealand's total investment abroad.

Direct investment relationships are a key feature of the investment relationship between New Zealand and Australia (direct investment is where an ownership relationship of 10 percent or more is established). Of New Zealand's $20.8 billion total investment in Australia at 31 March 2004, 37.6 percent ($7.8 billion) was direct investment in Australia. On the same date, of the total Australian investment in New Zealand of $51.3 billion, 57.4 percent was direct investment from Australia.

Statistics showing the New Zealand industries that have international financial assets and liabilities were also released today. The finance and insurance industry continues to be the industry that holds the largest proportion of New Zealand's overseas assets (62.5 percent), and is also the industry that has the most significant proportion of overseas liabilities (52.3 percent). New Zealand's manufacturing industry is the next most significant holder of overseas assets (13.0 percent) and also has the next largest proportion of overseas liabilities (12.4 percent).

Brian Pink Government Statistician

ENDS

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