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1301.0 - Year Book Australia, 2003  
Previous ISSUE Released at 11:30 AM (CANBERRA TIME) 24/01/2003   
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Contents >> International Accounts and Trade >> Levels of foreign investment in Australia & Aust. investment abroad

In table 30.14, levels of investment are categorised by direction (Australian investment abroad and foreign investment in Australia), type of investment (direct, portfolio, financial derivatives, other and reserve assets) and instrument.

Direct investment is a category of international investment that reflects the objective of obtaining a lasting interest by a resident in one economy in an enterprise in another economy, and implies a significant degree of influence by the investor in the management of the enterprise. A direct investment relationship is established when an investor, who is a resident in one economy, holds 10% or more of the ordinary shares or voting stock of an enterprise (direct investment enterprise) in another economy. The portfolio investment category covers investment in equity and debt securities (other than direct investment and reserve assets).

The items Australian investment abroad and foreign investment in Australia in table 30.14 do not equate with foreign assets and liabilities respectively in table 30.12. The difference is due to netting of assets and liabilities in regard to direct investment, both abroad and in Australia. Claims by direct investment enterprises on their direct investors, separately identified in table 30.14, are netted off in that table against liabilities to direct investors. These items are not netted off in table 30.12.

At 30 June 2002, Australian investment abroad totalled $453.9b, down $8.3b (1.8%) on the level a year earlier. This drop was the net effect of a $28.4b decrease in direct investment abroad, a $9.2b increase in portfolio investment assets, a $6.2b increase in financial derivative assets, a $5.2b increase in other investment assets and a $0.5b decrease in reserve assets.

Foreign investment in Australia totalled $844.4b at 30 June 2002, up $21.2b (2.6%) on June 2001. This rise was due to a $9.8b increase in direct investment in Australia, a $2.4b decrease in portfolio investment liabilities, a $7.3b increase in financial derivative liabilities and a $6.4b increase in other investment liabilities.


30.14 LEVELS OF AUSTRALIAN INVESTMENT ABROAD AND FOREIGN INVESTMENT IN AUSTRALIA - At 30 June

1997
1998
1999
2000
2001
2002
$m
$m
$m
$m
$m
$m

Levels of Australian investment abroad
-221,545
-290,293
-313,359
-410,484
-462,154
-453,877
Direct investment abroad(a)
-88,999
-125,580
-129,465
-178,284
-181,788
-153,371
Equity capital and reinvested earnings
-87,860
-124,085
-128,988
-179,786
-179,189
-152,256
Other capital
-1,139
-1,494
-477
1,502
-2,599
-1,115
Claims on affiliated enterprises
-4,620
-5,050
-5,496
-6,496
-12,250
-9,788
Liabilities to affiliated enterprises
3,481
3,555
5,020
7,998
9,651
8,673
Portfolio investment assets
-61,164
-71,962
-87,196
-126,738
-150,041
-159,269
Equity securities
-47,691
-56,254
-67,025
-102,271
-119,058
-126,103
Debt securities
-13,474
-15,708
-20,171
-24,467
-30,983
-33,166
Financial derivative assets
-9,265
-14,357
-15,529
-18,658
-23,802
-30,030
Other investment assets
-39,326
-54,134
-57,215
-58,856
-68,571
-73,772
Trade credits
-8,188
-9,658
-10,106
-9,984
-9,620
-9,924
Loans and other assets
-26,293
-37,427
-39,587
-41,779
-48,538
-52,002
Currency and deposits
-4,844
-7,049
-7,522
-7,093
-10,413
-11,845
Reserve assets
-22,791
-24,260
-23,954
-27,948
-37,951
-37,435
Levels of foreign investment in Australia
511,700
587,231
635,014
736,989
823,187
844,404
Direct investment in Australia(b)
150,827
162,371
174,478
195,679
201,060
210,909
Equity capital and reinvested earnings
130,190
138,943
152,753
171,305
171,009
177,649
Other capital
20,637
23,428
21,725
24,373
30,051
33,260
Claims on direct investors
-4,743
-5,680
-6,785
-7,542
-11,746
-9,701
Liabilities to direct investors
25,380
29,107
28,510
31,916
41,797
42,961
Portfolio investment liabilities
289,182
332,038
348,145
405,857
468,119
465,747
Equity securities
86,888
110,552
134,226
159,452
174,800
161,474
Debt securities
202,294
221,485
213,919
246,405
293,319
304,273
Financial derivative liabilities
10,221
15,040
17,826
21,431
23,591
30,910
Other investment liabilities
61,470
77,783
94,565
114,022
130,418
136,838
Trade credits
5,974
7,221
7,685
7,317
6,921
6,143
Loans
31,632
34,144
41,361
54,311
54,185
62,403
Currency and deposits
21,542
33,356
35,347
39,508
56,172
56,871
Other liabilities
2,322
3,061
10,172
12,886
13,139
11,421

(a) Net direct investment abroad, after deduction of liabilities to direct investment enterprises abroad.
(b) Net direct investment in Australia, after deduction of claims of Australian direct investment enterprises on direct investors.

Source: Balance of Payments and International Investment Position, Australia (5302.0).


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