The growth rate of Australian investment in this country slowed in the year to March, but the amount invested from across the Tasman still rose by nearly $7.8 billion.
Figures published today by Statistics New Zealand show Australia remains far ahead of other countries as the main source
of foreign investment in this country.
Australia is also well ahead as the destination for New Zealand investment abroad.
In the year to March, foreign investment in this country totalled $275.7 billion, from $254.2 billion the previous year.
Of the latest figure, Australia accounted for $87.5b or 31.7 per cent, up from $79.7b or 31.4 per cent the year before.
The $7.8b increase in the year to March 2008 was smaller than the rises of $10.9b in the March 2007 year and $12.9b the year before that.
Investment from the United States increased to $47.6b in the latest year from $41.5b, while that from Britain was up to $44.3b from $38b.
New Zealand's investment abroad rose to $121.9b from $111b, with Australia accounting for $34.1b, or 28 per cent, of it.
Since March 2003, Australian investment in this country has increased from 23.1 per cent of the total, while investment from New Zealand across the Tasman is up from 22.3 per cent.
- NZPA
