Southeast Asia has been upping its investment into New Zealand, with an FDI that grew to 4.4 billion NZ dollars, up from 2.8 billion last year.
According to Statistics New Zealand, this growth is mainly a result of FDI from Singapore.
Jason Attewell, balance of payments manager, explained: “In the latest year, Singapore replaced Japan as the fourth-largest inward investor to New Zealand.”
Still, Australia remains the country with the greatest direct investment in New Zealand. With stocks valued at 63.3 billion NZ dollars, Australia is followed by the United States and Britain. New Zealand’s outward direct investment has been decreasing, however.
“Over the last five years, the value of New Zealand’s portfolio investment has increased by almost a third, whereas direct investment into overseas subsidiaries still sits at a very similar level,” Attewell said.
New Zealand’s total investment abroad is largely put into Australia, with stocks of 48.2 billion NZ dollars.