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5352.0 - International Investment Position, Australia: Supplementary Country Statistics, 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 20/07/2004   
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NOTES


CHANGES IN THIS ISSUE

There have been revisions to the international investment position (IIP) data. The revisions are the result of improved reporting and the identification and correction of errors.


The estimates in this publication are presented on a calendar year basis. This change allows for better analysis in terms of international comparisons as data for most other countries are available on a calendar year basis.


This issue includes the addition of ten countries to the list of countries separately identified.

  • Austria, Denmark, Finland, Norway and Spain, previously included in Europe n.e.s.
  • Bermuda, British Virgin Islands and Cayman Islands, previously included in Central America and Caribbean
  • India and United Arab Emirates previously included in Asia n.e.s.

Argentina and Brazil have been removed from America n.e.s.


In the previous issue, data were presented for financial years commencing with 1996-97. In this issue, data are presented for the three calandar years 2001, 2002 and 2003. However, annual time series of data from 1991-92 to 2001-02 as well as for the calendar years 2001 to 2003 are available as Data Cubes on this site.



ABOUT THE PUBLICATION

International Investment Position, Australia: Supplementary Country Statistics (cat. no. 5352.0) presents statistics on Australia’s international investment position by selected countries, which supplements the quarterly publication, Balance of Payments and International Investment Position, Australia (cat. no. 5302.0). For foreign investment in Australia (liabilities), it includes details of country of investor, investment stocks (level of investment), flows (transactions) and associated income. For Australian investment abroad (assets), similar detail is provided in respect of country of investment. The non-transaction changes which occur due to exchange rate effects, other price effects and other changes in the levels of these assets and liabilities that are not due to transactions are not shown in this publication but do contribute to the level of investment.


The statistics are presented as time series for the years 2001, 2002 and 2003 inclusive and are consistent with those published in the March quarter 2004 issue of Balance of Payments and International Investment Position, Australia (cat. no. 5302.0).



ROUNDING

Discrepancies may occur between totals in this publication and the same aggregates from other sources, and between sums of component items and totals due to rounding.



INQUIRIES

For further information about these and related statistics, contact the National Information and Referral Service on 1300 135 070 or Sandra Waters on Canberra (02) 6252 7129.



SUMMARY COMMENTARY


ANALYSIS OF RESULTS


INTERNATIONAL INVESTMENT POSITION

Australia’s net international investment position at 31 December 2003 was $469.9 billion, an increase of $44.6 billion on the previous year.


Level of foreign investment in Australia

The level of foreign investment in Australia increased by $81.6 billion in 2003 to reach $978.1 billion at 31 December 2003. Portfolio investment accounted for $549.9 billion (56%), direct investment for $243.5 billion (25%), financial derivatives for $48.6 billion (5%) and other investment liabilities for $136.2 billion (14%). Of the portfolio investment liabilities, debt securities accounted for $355.0 billion (65%) and equity securities for $194.9 billion (35%).


The leading investor countries at 31 December 2003 were:

  • United States of America ($297.3 billion or 30%)
  • United Kingdom ($258.8 billion or 26%)
  • Japan ($44.8 billion or 5%)
  • Hong Kong (SAR of China) ($32.7 billion or 3%)
  • Singapore ($22.1 billion or 2%)
  • Netherlands ($20.4 billion or 2%)
  • New Zealand ($19.6 billion or 2%).

In addition, the level of borrowing raised on international capital markets (e.g. Eurobonds) was $88.7 billion or 9%.


The following graph illustrates the percentage share, by leading countries, of the total level of foreign investment in Australia at 31 December 2003.

FOREIGN INVESTMENT IN AUSTRALIA, LEVELS, 31 December 2003
Graph: FOREIGN INVESTMENT IN AUSTRALIA, LEVELS, 31 December 2003



Level of Australian investment abroad

The level of Australian investment abroad reached $508.2 billion at 31 December 2003, an increase of $37.0 billion on the previous year. Direct investment abroad accounted for $169.5 billion (33%), portfolio investment for $171.5 billion (34%), other investment for $79.1 billion (16%), financial derivatives for $43.8 billion (9%) and reserve assets for $44.3 billion (9%). Equity has been the main form of Australian investment abroad during the period. At $299.3 billion, equity represented 59% of the total level of investment at 31 December 2003.


The leading destination countries as at 31 December 2003 were:

  • United States of America ($211.0 billion or 42%)
  • United Kingdom ($82.6 billion or 16%)
  • New Zealand ($37.1 billion or 7%)
  • Japan ($21.9 billion or 4%)
  • Netherlands ($12.7 billion or 2%)
  • Singapore ($11.9 billion or 2%)
  • Hong Kong (SAR of China) ($11.7 billion or 2%)
  • France ($11.4 billion or 2%).

Users should note that the country of attribution is where the first investment is made. Some companies have subsidiaries abroad (e.g. in the United States of America) where the subsidiary may undertake further investment abroad (e.g. in South America). See also the 'care to be exercised' section of the Explanatory Notes.


The following graph illustrates the percentage share, by leading countries, of the total level of Australian investment abroad at 31 December 2003.

AUSTRALIAN INVESTMENT ABROAD, LEVELS, 31 December 2003
Graph: AUSTRALIAN INVESTMENT ABROAD, LEVELS, 31 December 2003




FINANCIAL ACCOUNT TRANSACTIONS

The balance on financial account for the year ended 31 December 2003 recorded a net inflow (surplus) of $44.7 billion. This result is up $13.4 billion on the net inflow of $31.3 billion recorded for the previous year.


Foreign investment in Australia - Transactions

Foreign investment in Australia recorded a net inflow of $96.7 billion for the year ended 31 December 2003, an increase of $19.8 billion on the net inflow of $76.9 billion for the previous year.


The leading investor countries were:

  • United States of America ($47.9 billion or 50%)
  • United Kingdom ($14.4 billion or 15%)
  • Netherlands ($4.3 billion or 4%)
  • Germary ($2.0 billion or 2%).

Countries which withdrew large levels of investment in Australia in 2003 were:
  • Hong Kong (SAR of China) ($12.7 billion or -13%)
  • Singapore ($4.9 billion or -5%).

In addition, issues of borrowing raised on international capital markets (e.g. Eurobonds) were $21.7 billion or 22%.


The following graph illustrates the percentage share, by leading countries, of total financial transactions for foreign investment in Australia during the year ended 31 December 2003.

FOREIGN INVESTMENT IN AUSTRALIA, TRANSACTIONS, 2003
Graph: FOREIGN INVESTMENT IN AUSTRALIA, TRANSACTIONS, 2003



Australian investment abroad - Transactions

Australian investment abroad recorded a net outflow of $52.0 billion for the year ended 31 December 2003, an increase of $6.4 billion on the net outflow of $45.6 billion for the previous year.


The leading destination countries were:

  • United States of America ($26.8 billion or 52%)
  • New Zealand ($6.9 billion or 13%)
  • United Kingdom ($3.8 billion or 7%)
  • France ($2.5 billion or 5%)
  • Japan ($1.7 billion or 3%)
  • Germany ($1.5 billion or 3%).

Countries from which large amounts of Australian investment were withdrawn in 2003 were:
  • Singapore ($1.4 billion or -3%).

The following graph illustrates the percentage share, by leading countries, of total financial transactions for Australian investment abroad during the year ended 31 December 2003.

AUSTRALIAN INVESTMENT ABROAD, TRANSACTIONS, 2003
Graph: AUSTRALIAN INVESTMENT ABROAD, TRANSACTIONS, 2003



INCOME

Income debits totalled $37.6 billion for the year ended 31 December 2003. This result is an increase of $1.2 billion on the income debits in the previous year. The main countries to which income accrued for the year ended 31 December 2003 were:
  • United States of America ($9.4 billion or 25%)
  • United Kingdom ($6.1 billion or 16%)
  • Japan ($3.1 billion or 8%)
  • Switzerland ($1.3 billion or 3%)
  • Netherlands ($1.2 billion or 3%)
  • Hong Kong (SAR of China) ($1.1 billion or 3%).

Income credits totalled $14.7 billion for the year ended 31 December 2003. This result is down $0.3 billion on the income credits in the previous year. The main countries from which income accrued for the year ended 31 December 2003 were:
  • United States of America ($5.4 billion or 37%)
  • New Zealand ($2.3 billion or 16%)
  • United Kingdom ($2.2 billion or 15%).

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